You're listening to Business English Pop, the business English podcast for professionals on the move.
This episode on relationship building is part of an ongoing series on negotiation skills.
There's an old saying in business it's easy to make money once, but it's hard to keep making money for a long time.
In other words, I may be able to make a deal with you this one time, but unless we establish a relationship based on a long-term mutual benefit, you may not answer the phone the next time I call.
In negotiation.
Establishing a good relationship based on trust makes it possible to jointly search for creative solutions to overcome blockage and even to turn conflict into a productive force.
In this episode, both Peter and Maxine are owners of local telecommunication services that provide mobile phone users with ringtones and games.
Peter's company, Textacular, has a significant presence in Denmark.
Meanwhile, Maxine's company, Gamester, is based in northern Germany.
Peter is working on a plan to sell his business to a large European-wide telecom service provider.
In an effort to increase his company's value so that he can get more money for it.
Peter wants to roll up or buy other local services like his.
In today's listening he is having lunch with Maxine to find out whether she might be interested in selling her company.
As the dialogue starts, they have just ordered their food.
While you listen, try to answer the following questions.
The answers will be posted in a few days on our website.
2.
What does Peter say is his and Maxine's biggest overlapping concern?
3.
How does Peter bring up the subject of a possible merger between his and Maxine's company?
So, Sam has said a lot about you.
Only good things, I hope.
Of course.
And I've been looking at the figures, and I must say I'm very impressed with your company.
Thanks.
It's great to finally have the opportunity to meet you.
Likewise.
So, have you eaten here before?
Once or twice.
Can I make a recommendation?
Yes, that'd be great.
Mmm, the food is delicious.
I'm glad you like it.
So, as I mentioned over the phone, I'm hoping we can explore some mutual interests.
Yes, we certainly have overlapping concerns.
Obviously, the big one is how to remain competitive in the face of pan-European providers.
Sure.
The trend is definitely towards consolidation.
The way I see it, we're in this together.
We have everything to gain by banding together.
What did you have in mind?
We're wondering whether you've ever considered joining forces with another regional provider.
The thought certainly crossed our minds.
Well, I'd say we have a lot to talk about.
At this point in his conversation with Maxine, Peter has not actually directly brought up the fact that he wishes to buy her company.
Until now, he has just been focusing on creating a good atmosphere and establishing common interests.
Peter knows that for a merger to succeed, building a good relationship is essential.
So he's being careful to lay out good groundwork, that is, to establish a strong foundation for his partnership with Maxine.
Let's look in detail at some of the positive language and expressions that Peter uses at the beginning of the dialogue.
So, Sam has said a lot about you.
Only good things, I hope.
Of course.
And I've been looking at the figures, and I must say I'm very impressed with your company.
Thanks.
It's great to finally have the opportunity to meet you.
First, Peter mentions a mutual acquaintance, Sam.
Next, he uses two phrases to start off the conversation on the right foot.
That is, to start it off on a positive basis.
First, he flatters Maxine on her business.
He says, I'm very impressed with your company.
Second, he says, it's great to finally have the opportunity to meet you.
Using this kind of language on the first meeting is often an important element in starting off on the right foot.
That is, making a good impression and creating a good atmosphere.
Let's study more phrases that we can use.
We've heard a lot of great things about you.
Your reputation precedes you.
What happens next?
Peter and Maxine order their food and the dialogue fades out while they begin eating.
For more practice on business meals, we can listen to BEP 96, which deals specifically with that topic, including ordering, recommending dishes and paying the bill.
When the dialogue fades back in, Peter is ready to turn the topic of conversation to business.
How does he do that in a positive and productive way?
He emphasizes the interests that he and Maxine share.
Listen again.
So, as I mentioned over the phone, I'm hoping we can explore some mutual interests.
Yes, we certainly have overlapping concerns.
I'm hoping we can explore some mutual interests is a great way of bringing up the topic of possible cooperation, since the emphasis is not only on my own aims, but rather on common goals.
This kind of language helps establish a feeling of shared benefit.
Considering the other party's benefit expresses a you attitude.
Instead of focusing on myself, I start off by considering you.
You attitude that is taking a genuine interest in the other person is useful in establishing trust and building rapport in a relationship.
Let's listen to some more examples of using a you attitude to explore mutual needs.
What directions are you taking your business?
What would be an ideal outcome for you?
What are the top five things you value most in a business relationship?
What do you like most about your current supplier and what would you like to change?
What are you hoping to achieve in the next year?
What are your medium and long-term goals?
After Peter has turned the conversation to business by exploring mutual needs, how does the dialogue continue?
Maxine agrees with Peter that they have overlapping or shared interests.
Yes, we certainly have overlapping concerns.
Obviously, the big one is how to remain competitive in the face of pan-European providers.
Having opened the topic of business, Peter and Maxine now emphasize a common interest that will form the basis of his relationship with Maxine.
How to remain competitive in the face of pan-European providers.
Pan means all.
Providers means companies that provide a service, such as Peter's and Maxine's companies.
So Peter is talking about competition from larger Europe-wide companies that sell ringtones and games.
Thus, Peter and Maxine can say that their major overlapping concern is how to remain competitive in the face of larger providers.
Peter and Maxine use these phrases to establish common interests.
Let's review some more types of useful expressions for this purpose.
We have a lot of common ground.
There is great potential for synergy between our two businesses.
Our needs in this area are complementary, don't you think?
How does the dialogue continue to develop?
Maxine agrees with Peter about the threat they jointly face from larger companies, doesn't she?
Sure.
The trend is definitely towards consolidation.
In this context, consolidation refers to smaller companies merging or being bought to form larger companies.
The positive response that Peter is getting from Maxine is, of course, due to his focusing specifically on clear areas of common interest.
Next, Peter takes advantage of this positive response to build on the good atmosphere by emphasizing solidarity.
Solidarity is, as Peter puts it, the feeling that we are in this together.
It is the basis of loyalty and trust.
Listen again.
The way I see it, we are in this together.
We have everything to gain by banding together.
To band together similarly means to form a strong group.
Giving emphasis to feelings of togetherness and solidarity is an effective method of building a strong relationship.
Listen to some more useful language.
Our long-term partnership can only contribute to the success of both our companies.
This is a great chance to forge an even closer and more productive working relationship.
As their conversation continues, it's now Maxine's turn to ask Peter for clarification about what exactly he is thinking of.
What did you have in mind?
We're wondering whether you've ever considered joining forces with another regional provider.
Peter asks Maxine if she has ever considered joining forces.
This is the most direct reference that Peter takes to a merger during the dialogue.
To join forces is an idiom that comes from military language.
The original meaning is to merge armies.
We can use this expression with the preposition with, for example to join forces with someone.
Here are some more examples with this phrase.
Because we faced such fierce competition from larger companies, I suggested joining forces with some of our competitors.
Originally they were on opposite sides, but then, when they faced a common enemy, they joined forces to defeat their competitor.
How does Maxine respond to Peter's suggestion that they should join forces?
The thought certainly crossed our minds.
Well, I'd say we have a lot to talk about. to cross one's mind means to occur to someone.
So Maxine is saying that she had actually already been thinking about possibilities for some sort of merger.
Peter finishes off the dialogue by suggesting a next step.
He says, well, I'd say we have a lot to talk about.
Of course, in a business discussion, it's not enough just to build the relationship.
At some point, we need to take action.
Let's review further expressions for proposing the next step.
This is an area that's worth exploring further.
Let's try to hammer out an agreement.
Why don't we get together next Thursday or Friday to talk?
The next step, I'd say, is to get all the parties around the same table.
Now it's your turn to practice.
First, we'll review the language of exploring each other's needs and establishing common ground.
Imagine you are in discussions with some potential partners.
First, you'll hear a cue prompting you to ask them about their needs.
For example, if you hear, Directions?
Taking your business.
You can ask, What directions are you taking your business?
Next, listen to their reply.
After they have finished, respond by using a phrase we studied for establishing common ground.
For instance, you could say we have a lot of common ground or our needs in this area are complementary.
Don't you think?
Are you ready?
Let's give it a try.
Q. Hoping to achieve.
Next year.
We're looking to expand into new markets.
Ideal outcome for you.
We're hoping to double profits in the next five years.
Q. Directions.
Taking your business.
We're focusing more and more on innovation.
Now let's listen to some example answers.
Q.
What are you hoping to achieve in the next year?
We're looking to expand into new markets.
Yes, there are definitely many areas where our interests are aligned.
Q. Ideal outcome for you.
What would be an ideal outcome for you?
We're hoping to double profits in the next five years.
Well, there is great potential for synergy between our two businesses.
What directions are you taking your business?
We're focusing more and more on innovation.
Our needs in this area are complementary, don't you think?
Next, we'll review some of the useful vocabulary and collocations that we studied in this episode.
You'll hear a series of sentences with a verb blanked out or replaced with a beep.
Repeat the whole sentence saying the missing word.
For example, if you hear It's great to finally have the opportunity to meet you in person.
After each response, we'll play the correct answer.
Let's begin.
I'm for this chance to talk.
Answer.
I'm grateful for this chance to talk.
This is a great chance to... An even closer relationship.
Answer.
This is a great chance to forge an even closer relationship.
By working closely together, we can great things.
Answer.
By working closely together, we can achieve great things.
They joined with each other to defeat their common opponent.
Answer.
They joined forces with each other to defeat their common opponent.
Let's try to out an agreement.
Answer.
Let's try to hammer out an agreement.
That's all for this episode on relationship building.
We've talked about the importance of you attitude, learned useful idioms and studied language and expressions for starting off on the right foot exploring each other's needs, establishing common interests, emphasizing solidarity and suggesting the next step.
There you'll find complete transcripts, vocabulary explanations, and language review exercises.
Also, take a look at our online learning center, which contains a wide range of revision activities.
All that's at www.businessenglishpod.com.
See you next time, and thanks for listening.
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