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Expert: Why do entrepreneurs fail? They choose the wrong idea.
The importance of having a sound business idea for a startup is essential, but identifying the ideas most likely to go from concept to venture is challenging. Statistics show that about 34 percent of startups fail within the first two years and 56% within the first four years. Most failures are due, in part, to the pursuit of ideas that are poorly selected and/or tested. “Inexperienced entrepreneurs have improved odds of succeeding over the long run if their first idea is sound,” says Dan Cohen, director of Wake Forest University’s Center for Entrepreneurship. “A key to that success is to generate 100 ideas and then evaluate and select the best one. That first win builds confidence for the next.” - Dan Cohen Cohen’s new teaching method, IDEATE, has been proven to help develop higher-quality, more innovative ideas. He is available to discuss ways fledgling entrepreneurs can refine their ideas — from product or service development to customer testing to securing investors to marketing and sales. He can also discuss why starting a business is easier today than it has ever been and what characteristics people share who are drawn to opportunities, innovation and entrepreneurship. Dan Cohen and Wake Forest’s Center for Entrepreneurship were prominently featured in the Winston-Salem Journal’s Business & Innovation section Spotting valuable ideas. IDEATE was one of four finalists for the 2018 Excellence in Entrepreneurship Teaching and Pedagogical Innovation Award from the Global Consortium of Entrepreneurship Centers — winning recognition from among more than 100 submissions. Most recently, Wake Forest University was a finalist for the Model Emerging Entrepreneurship Program Award at the United States Association for Small Business and Entrepreneurship (USASBE) Conference focused on entrepreneurship education. Broadcast Television and Radio Studio Information Wake Forest operates a fully-equipped, professional television and radio studio to connect experts with global news media. Video interviews can be coordinated through LTN Global Communications’ Smartcloud IP video transport service that provides regular high-quality video transport connections to most major broadcast networks. Audio interviews are coordinated through ipDTL, an IP codec used for remote radio broadcasts as well as voice-overs. ipDTL replaces classic ISDN audio codecs and has backward compatibility. Details available here.
This Valentine’s Day, give the gift of great conversation
When is the last time you and your partner made time to talk? Or, more important, made time to really listen to one another. The newness of getting to know our partner – that interest we had in the beginning of a relationship – begins to take a back seat to the everyday busyness of life. And while the days, months and years pass by, it is easy to assume that the one we love is essentially the same person with the same needs, interests, values and goals. "People think that ‘change is the only constant’ doesn’t apply to our relationships. We forget that we are always growing and learning new things about ourselves and so is our partner,” says Wake Forest University communication professor Jennifer Priem. “As we and our partners grow, we need to learn how to best make adjustments in our relationship so that our relationships grow with us. That happens when we listen.” Priem studies relationships and conducts research that explores the connection between supportive conversations and physiological signs of stress reduction. She recently launched a blog on Psychology Today, Stressing Communication, and is sharing a series of posts called, “Conversations That Will Save Your Relationship.” Priem offers these tips to help set the stage for meaningful conversation. Ask your partner if it’s a good time talk. “After work or when your partner is tired is usually not the best time to talk,” says Priem. “If your partner says ‘no’ it doesn’t mean forever. Rather than force a conversation because you’re ready, wait for a time that will be good for you both to engage.” When it is time to talk, listen first. Be a supportive listener. Don’t allow yourself to be distracted by your cell phone, other things happening around the conversation, or tangential thoughts that pop into your mind. Listen to understand, rather than to respond. Try not to interrupt your partner. Wait to respond until your partner has completed his or her thought. It may be that by waiting to respond, you will learn something new that will change how you respond. Conversations don’t require “work,” says Priem, but they do require that we recognize how we maintain our relationships, assess if it is in line with what is best for us and our partner, and adjust our strategies to create the best possible relationship over time. Priem is available for phone, email and broadcast interviews. Broadcast Television and Radio Studio Information Wake Forest operates a fully-equipped, professional television and radio studio to connect experts with global news media. Video interviews can be coordinated through LTN Global Communications’ Smartcloud IP video transport service that provides regular high-quality video transport connections to most major broadcast networks. Audio interviews are coordinated through ipDTL, an IP codec used for remote radio broadcasts as well as voice-overs. ipDTL replaces classic ISDN audio codecs and has backward compatibility. Details available here.
Expert on Virginia Constitution available to comment on gubernatorial removal, succession issues
John Dinan, a Wake Forest University politics and international affairs professor who specializes in the study of state constitutions and is the author of the book The Virginia State Constitution, can answer questions about the process in Virginia for removing a governor from office and what happens if a governor is removed or resigns. Removing a governor from office The Virginia Constitution provides two pathways for removing a governor from office. First, the Virginia Constitution allows for impeachment in cases of "malfeasance in office, corruption, neglect of duty, or other high crime or misdemeanor." Similar to the process in place at the national level, it takes a majority vote in the house to impeach an official and a two-thirds vote in the senate for conviction and removal from office. Second, in a provision that roughly tracks the 25th Amendment to the U.S. Constitution and was intended to apply to cases of physical or mental disability, a governor can be deemed "unable to discharge the powers and duties of his office,” as determined either by the attorney general, senate president pro tem, and house speaker acting together or by a majority vote of all members of the legislature. Such a determination triggers a process that ultimately requires a three-fourths vote in the house and senate to remove a governor on the ground of inability to discharge the powers and duties of the office. Succession to the office of governor When a governor leaves office before the end of the term, he is succeeded by the lieutenant governor. In case the lieutenant governor’s office is vacant, the attorney general would become governor. In case the office of attorney general is vacant, the house speaker would become governor. In any of these situations, someone assuming the office of governor mid-term would not be prohibited from running for and serving another full term in office, despite Virginia’s prohibition on a governor serving consecutive terms. Succession to the office of lieutenant governor In the event the lieutenant governor succeeds the governor and therefore the lieutenant governor’s office becomes vacant, the senate president pro tem would discharge the duties of the lieutenant governor, while continuing to serve in the senate. The governor is then permitted to appoint someone to fill the vacancy in the lieutenant governor’s office, with this appointee serving until the next scheduled general election (November 2019), when an election would be held to fill out the remainder of the original term. Succession to the office of attorney general In the event of a vacancy in the office of attorney general, the position would be filled by a person selected by a majority vote of all members of the legislature, as long as the legislature is in session, and that person would then serve the remainder of the original term. If the legislature is in recess, then the position would be filled temporarily by an appointee of the governor and that person would serve until the legislature is next in session and would select someone to fill out the term. Broadcast Television and Radio Studio Information Wake Forest operates a fully-equipped, professional television and radio studio to connect experts with global news media. Video interviews can be coordinated through LTN Global Communications’ Smartcloud IP video transport service that provides regular high-quality video transport connections to most major broadcast networks. Audio interviews are coordinated through ipDTL, an IP codec used for remote radio broadcasts as well as voice-overs. ipDTL replaces classic ISDN audio codecs and has backward compatibility. Details available here.
Record freezing temperatures and global warming – let our experts explain
This week has seen temperatures drop to record lows. Across the mid-west, a polar vortex coupled with biting winds saw temperatures plunge below minus 50 degrees Fahrenheit. As the word has been focusing on climate change, its causes and effects – this week stands as a stellar example of the impacts of global warming. Despite the tweets and trolls of prominent politicians somehow aligning a deep freeze as a counter argument for climate change the evidence is becoming more clear - with global warming, comes warnings far more worrisome. Dr. Pamela Grothe, an Assistant Professor in the Department of Earth and Environmental Sciences at the University of Mary Washington, was recently quoted in the Guardian about how global warming is forecasting a grim future at the rate we are going. “Warmer temperatures and associated lower oxygen levels in the ocean are sufficient to explain the observed extinctions we see in the fossil record”, she says. “We are already seeing warming ocean temperatures and lower oxygen in many regions, currently affecting marine ecosystems. If we continue in the trajectory, we are on with current emission rates, this study highlights the potential that we may see similar rates of extinction in marine species as in the end of the Permian.” And is this just the beginning? What other extremes can we expect to see in our weather? Can that trajectory Dr. Grothe reference be turned around or slowed down? And what species are the most vulnerable and what ripple effect will that have on our oceans? There are a lot of questions to be asked – and that’s where the experts from the University of Mary Washington can help. Dr. Pamela Grothe is an assistant professor in the Department of Earth and Environmental Sciences as the University of Mary Washington. She recently completed a Ph.D. in the Paleoclimatology Lab at the Earth and Atmospheric Sciences department at Georgia Institute of Technology. Her current research involves a study of the central Pacific climate and El Niño Southern Oscillation (ENSO) variability over the past 6000 years through the analysis of coral fossil records. She’s an #expert in climate change and is available to speak with media – simply click on her icon to arrange an interview.
Empowered Storytelling Geared Toward Women Is a Winning Combo for Super Bowl Ads, Baylor Expert Says
Television advertisers who have chosen to appeal to women fans and viewers during this weekend’s Super Bowl have committed their millions of dollars to a wise strategy, according to a Baylor University marketing and advertising expert. Tyrha Lindsey-Warren, Ph.D., clinical assistant professor of marketing in Baylor’s Hankamer School of Business, studies consumer behavior and attitudes, multicultural media and advertising, and movies and entertainment. Each year, she and her students analyze the Super Bowl ads. And each year, she said, she sees more ads geared toward women. In fact, AdAge reports that brands like Bumble, Toyota and Procter & Gamble's Olay are featuring women in lead roles in their Super Bowl commercials this year. “That’s smart,” Lindsey-Warren said. “The current and future market power of women – as a whole and by segments – is undeniable and truly cannot be ignored by marketers.” To make her point, she cited research showing that women influence more than 80 percent of all consumer spending; 89 percent of the financial decisions are made by women; and globally, women control more than $20 trillion in world-wide spending. In addition, nearly 24.3 million African American women are brand loyalists and cultural trendsetters who have influence over the $1.2 trillion dollars in black spending power. Forbes reported in 2018 that “women constituted about 49 percent of the 108 million-plus people who watched” that year’s Super Bowl – and paid closer attention to the ads. “Nowadays, whatever brands plan to do during the Super Bowl must be extremely strategic and well planned when commercials go for over $5 million dollars,” Lindsey-Warren said. “With the #metoo and #times up movements as well as the diversity and gender issues in advertising industry and more, I think brands struggle as to how they approach targeting women on such a global stage.” She said brands that use “empowered storytelling” – storytelling that exudes the emotion of empowerment – make a difference. Good examples, she said, are Always’ “Like a Girl” commercial in 2015 and Audi’s “Daughter” commercial in 2017. “In my research, especially among Millennials and Gen Z, this approach is a powerful combination for brands who want to increase purchase intentions for their products or services,” Lindsey-Warren said. “The emotion of empowerment is multidimensional and promotes encouragement and can be extremely motivational,” she said. “When one is empowered, it can be an ‘aha’ moment and very transformational in a positive manner. In addition, empowered storytelling is a proactive approach to storytelling that demands you keep the receiver of the story in mind at every stage of the process because, at the end of the day, you want the receiver of the story to be better in some way for having received the empowered narrative they just viewed or experienced.” And when consumers are empowered, they tend to tell others. In the digital space, this looks like sharing videos, posts, quotes and more on social media channels. “Essentially, empowered storytelling gives brands the opportunity to achieve the right balance of entertaining and encouraging and, ultimately, healing by showing that they care for their consumers through the motivational messages and narratives they are producing,” Lindsey-Warren said. ABOUT TYRHA LINDSEY-WARREN, Ph.D. Tyrha Lindsey-Warren, Ph.D., is a marketing scholar, business executive, artist and entrepreneur. As a consumer behavior scholar, her research is rooted in narrative transportation theory (i.e., storytelling) that exudes the emotion of empowerment and its impact on consumer attitudes, behaviors, purchase intention and message recall. She also studies health edutainment, multicultural media and advertising, as well as movies and entertainment. Lindsey-Warren is an expert in effective communications strategies for leaders, multicultural communications and marketing. Her latest research, “An Examination of Television Consumption By Racial and Ethnic Audiences in the U.S.,” was published in the Journal of Advertising Research. She will be discussing this study during panel discussions in New York City and Los Angeles for the Geena Davis Institute on Gender in Media. ABOUT BAYLOR UNIVERSITY Baylor University is a private Christian University and a nationally ranked research institution. The University provides a vibrant campus community for more than 17,000 students by blending interdisciplinary research with an international reputation for educational excellence and a faculty commitment to teaching and scholarship. Chartered in 1845 by the Republic of Texas through the efforts of Baptist pioneers, Baylor is the oldest continually operating University in Texas. Located in Waco, Baylor welcomes students from all 50 states and more than 80 countries to study a broad range of degrees among its 12 nationally recognized academic divisions. ABOUT HANKAMER SCHOOL OF BUSINESS AT BAYLOR UNIVERSITY Baylor University’s Hankamer School of Business provides a rigorous academic experience, consisting of classroom and hands-on learning, guided by Christian commitment and a global perspective. Recognized nationally for several programs, including Entrepreneurship and Accounting, the school offers 24 undergraduate and 13 graduate areas of study. Visit www.baylor.edu/business and follow on Twitter at twitter.com/Baylor_Business.
Why voters prefer moderate leaders in the face of terrorism
From 1970 to 2016, 11,176 people in Europe died from terrorist attacks. These numbers do not include those that were wounded or missing. Terrorist attacks, especially deadly ones, are likely to affect the way people vote. But what is the exact impact of terrorism on voting patterns? Following terrorist attacks, in international elections people are more likely to vote for moderate or centrist political parties as opposed to right and leftist parties, according to a study published by Augusta University researchers Dr. Lance Hunter and Dr. Martha Ginn. The study, published in “Global Policy” on Jan. 3, 2019, analyzed the effect terrorist attacks had on voting patterns for left, right and moderate political parties in elections for more than 50 democracies worldwide. The findings have several implications for public policy. First, it is clear that terrorism affects the political behavior of voters. Therefore, Hunter and Ginn recommend that governments develop and communicate sensible counterterrorism policies in effort to maintain electoral stability. Second, counterterrorism policies that are viewed as overly aggressive in nature or passive are likely to be met with skepticism by voters. This is one possible reason why more moderate and centrist parties experience an increase in votes following terrorist attacks. The party in power loses electoral support during increased terrorist activity. A possible solution to this, Hunter and Ginn said, includes developing sensible, realistic counterterrorism policies that address security concerns while avoiding reactionary policies. Finally, rightist parties suffered the most electorally and lost support following both international and domestic attacks while leftist parties lost support following domestic attacks. Hunter and Ginn suggest that parties should tailor their counterterrorism proposals and messaging depending on the type of attack.
Many Americans already have enough “stuff,” and the gift-giving season sometimes adds to that collection of things we really don’t need. Instead of always receiving, how can we resolve to be more generous in the New Year? “Whatever our station, however much money or resources we have, we all have something to share and something to give,” says Andy Hogue, Ph.D., senior lecturer in Baylor’s Honors College who teaches a course on philanthropy and the public good. “I like the idea of thinking in terms of a New Year’s resolution, sort of resolving to be more generous and helping people to think in those ways.” Hogue offers four ways individuals and families can develop a spirit of generosity in the New Year. 1) Generosity starts with gratitude. “That is the very first step, just being grateful for what we have, but also realizing that to those given much, much is expected, and to begin thinking about not possessing things but stewarding things,” Hogue said. “Think of the many things we have that might benefit others, whether that is our time, our talents or our finances. There are so many things that we have at our disposal to be able to enrich communities and to help other people. Being able to think in those ways leads us down the path toward generosity and toward sharing.” 2) Generosity is more than just a transaction. “Think of philanthropy, generosity and giving as more than writing a check. Think of it as something that can be transformative and realize that there is no such thing as an unhappy generous person. It’s difficult to be unhappy when we are giving of ourselves.” 3) Generosity is a muscle you have to exercise. “If we can’t give of ourselves when we have limited means, what makes us expect that we would do it when we have more means?” Hogue said. “We all, in some way, are privileged and blessed and have resources that can be put to use for the benefit of someone else.” 4) Generosity can be creative. There are inspired ways to give birthday or Christmas gifts in honor of a family member or friend that bring about a beautiful thing Hogue likes to call the “philanthropy of collaboration.” “Imagine the many things that come together in this one simple act: you, the giver, are enriched by the series of events you set into motion while the person you honor with the gift appreciates your generosity and imagination. The beneficiary of the gift then takes your offering to enrich the lives of others,” Hogue said. It is, however, important to take cues from the person you honor and give a gift in support of the causes they hold dear. “You can go the traditional route – make a donation and give the person a piece of paper (acknowledging the gift) – or there are amazing web-based resources that can help people make very impactful gifts even with limited amounts,” Hogue said. “You give five dollars and with the magic of the Internet, the gift can go towards fighting disease in Africa, providing books for teacher’s classroom or buying someone in a poor country a goat or a cow or a pig that can be a source of generating income.” Baylor is among 19 universities that participate in the Fort Worth-based Philanthropy Lab, a hands-on philanthropy education program that sparks and expands students’ interest and participation in philanthropy. Since fall 2014, Hogue has taught a full-credit class of Baylor students, who have taken on a very tangible task: stewarding and giving away thousands of dollars – a total now more than $600,000 – in partnership with nonprofit organizations. Through this transformational undergraduate experience, Baylor students in the “Philanthropy and Public Good” class provide real funds for real needs in local, state and global communities while cultivating a philanthropic spirit and developing as innovative leaders poised for a lifetime of generosity.
Better Sleep - Not 'All-Nighters' - Helps Students on Final Exams
Students given extra points if they met “The 8-hour Challenge” — averaging eight hours of sleep for five nights during final exams week — did better than those who snubbed (or flubbed) the incentive, according to Baylor University research. “Better sleep helped rather than harmed final exam performance, which is contrary to most college students’ perceptions that they have to sacrifice either studying or sleeping. And you don’t have to be an ‘A’ student or have detailed education on sleep for this to work,” said Michael Scullin, Ph.D., , director of Baylor’s Sleep Neuroscience and Cognition Laboratory and assistant professor of psychology and neuroscience in Baylor’s College of Arts & Sciences. While students who successfully met the sleep challenge received extra points for the “mini-incentive,” the additional credit was not included in the analysis of how well they performed on the finals, emphasized Elise King, assistant professor of interior design in Baylor’s Robbins College of Health and Human Sciences. “They didn’t just perform well because they received extra points,” she said. “Students know that sacrificing sleep to complete school work is not a healthy choice, but they assume they don't have a choice, often remarking that there aren't enough hours in the day for coursework, extracurriculars, jobs, etc. “This removes that excuse.” Research participants included undergraduate interior design students and students in upper-level psychology and neuroscience classes. While the psychology classes emphasized education about sleep, the interior design students did not receive any formal training in sleep. Those who opted to take the challenge wore wristband sleep-monitoring devices for five days to ensure accurate study results. “The students didn’t need the extra credit to perform better, and they weren’t really better students from the get-go,” Scullin said. “If you statistically correct for whether a student was an A, B, C, or D student before their final exam, sleeping 8 hours was associated with a four-point grade boost — even prior to applying extra credit.” The collaborative interior design study — “The 8-Hour Challenge: Incentivizing Sleep During End-of-Term Assessments” — was published in the Journal of Interior Design. Scullin’s study of psychology students — “The 8-Hour Sleep Challenge During Final Exams Week” — was published in Teaching of Psychology. Poor sleep is common during finals as students cut back on sleep, deal with more stress, use more caffeine and are exposed to more bright light, all of which may disrupt sleep. Fewer than 10 percent of undergraduates maintain the recommended average of 8 hours a night or even the recommended minimum of 7 hours, previous research shows. But with incentives, “we can potentially completely reverse the proportion of students meeting minimum sleep recommendations — 7 hours a night — from fewer than 15 percent up to 90 percent,” Scullin said. “Half of students can even meet optimal sleep recommendations of 8 to 9 hours.” Here are the findings of the two studies: PSYCHOLOGY STUDENTS In the study of psychology students, 34 students in two undergraduate courses could earn extra credit if they averaged 8 hours of sleep during final exams week or at least improved upon their sleep from earlier in the semester. The 24 who opted to take the challenge averaged 8.5 hours of sleep, with 17 meeting the goal. On the final exam, students who slept more than 8 hours nightly performed better than those who opted out or slept less than 7.9 hours. The incentive was 8 points — the equivalent of 1 percent on a student’s overall class grade. “It’s worth noting that one student who had a D-plus grade before the final but slept more than 8 hours a week during finals week, remarked that it was the ‘first time my brain worked while taking an exam,’” Scullin said. INTERIOR DESIGN STUDENTS In the interior design study challenge, students earned credit if they averaged 8 or more hours a night but received no grade change if they averaged 7 to 7.9 hours a night. Of the 27 students enrolled in the program, 22 attempted the challenge. Compared with a group of 22 students who did not try for the extra points, very few (9 percent) averaged 8 hours or even 7 hours (14 percent). The 8‐hour challenge increased the percentage of 8‐ and 7‐hour sleepers to 59 percent and 86 percent respectively. Students who took part in the challenge slept an average of 98 minutes more per night compared to students who were not offered the incentive but were monitored. “Critically, the additional sleep did not come at a cost to project performance,” King said. “Students who showed more consistent sleep performed better than those who had less consistent sleep. And students who achieved the challenge performed as well as or better than those who did not take the challenge." In a study of sleep and creativity done in 2017, King and Scullin found that interior design students with highly variable sleep habits — cycling between “all-nighters” and “catch-up” nights — had decreased cognition in attention and creativity, especially with major projects. Design students customarily complete finals projects rather than final exams. “Whether or not they ‘pull an all-nighter,’ when students cut their sleep, the effects are obvious,” King said. “They have trouble paying attention during class, and they aren't as productive during studio time.” She noted that there is a cultural acceptability — at least in design professions — related to sleep deprivation, in part because of the notion of the "tortured artist" who finds inspiration in the wee hours. “Some fields might find it unprofessional, but for many years, in design, sacrificing sleep was viewed as a rite of passage. That's something we're trying to change,” King said. “Even during stressful deadline weeks, students can maintain healthy sleep habits.” “To be successful at the challenge, students need to manage their time better during the day. Getting more sleep at night then allows them to be more efficient the next day,” Scullin said. “By training students in their first year of college, if not earlier, that they can sleep well during finals week without sacrificing performance, we may help to resolve the ‘global sleep epidemic’ that plagues students in America and abroad.” *Co-researcher on the interior design sleep study was Christine Mobley, Ph.D., lecturer at the University of Kentucky.
Chinese scientists are creating CRISPR babies
A daring effort is under way to create the first children whose DNA has been tailored using gene editing. When Chinese researchers first edited the genes of a human embryo in a lab dish in 2015, it sparked global outcry and pleas from scientists not to make a baby using the technology, at least for the present. It was the invention of a powerful gene-editing tool, CRISPR, which is cheap and easy to deploy, that made the birth of humans genetically modified in an in vitro fertilization (IVF) center a theoretical possibility. Now, it appears it may already be happening. According to Chinese medical documents posted online this month, a team at the Southern University of Science and Technology, in Shenzhen, has been recruiting couples in an effort to create the first gene-edited babies. They planned to eliminate a gene called CCR5 in hopes of rendering the offspring resistant to HIV, smallpox, and cholera. He Jiankui leads a team using the gene-editing technology CRISPR in an effort to prevent disease in newborns. The clinical trial documents describe a study in which CRISPR is employed to modify human embryos before they are transferred into women’s uteruses. The scientist behind the effort, He Jiankui, did not reply to a list of questions about whether the undertaking had produced a live birth. Reached by telephone, he declined to comment. However, data submitted as part of the trial listing shows that genetic tests have been carried out on fetuses as late as 24 weeks, or six months. It’s not known if those pregnancies were terminated, carried to term, or are ongoing. [After this story was published, the Associated Press reported that according to He, one couple in the trial gave birth to twin girls this month, though the agency wasn't able to confirm his claim independently. He also released a promotional video about his project.] The birth of the first genetically tailored humans would be a stunning medical achievement, for both He and China. But it will prove controversial, too. Where some see a new form of medicine that eliminates genetic disease, others see a slippery slope to enhancements, designer babies, and a new form of eugenics. Dr. Sullivan serves as professor of pharmacy practice and director of the Center for Bioethics. His research and writing interests include biomedical ethics, moral philosophy, and reproductive ethics. Contact him today for your story! Simply click on his icon to arrange an interview.
How to Negotiate the Best Retail Price: Baylor Expert Shares 11 Tips
Confidence in retail negotiations can lead to confidence in salary talks as well, management expert says In today’s retail climate, where stores struggle to keep up with online competition and customers can compare prices with the ease of their smartphones, the price tag is just a starting point for negotiations, said a negotiation expert at Baylor University. “No longer do you need to pay sticker price for everything you buy. The customer is now empowered to have a say in pricing, and even hourly retail workers are often empowered to give price discounts when requested,” said Emily Hunter, Ph.D., associate professor of management in Baylor University’s Hankamer School of Business, and an expert in negotiation and conflict management. Hunter said negotiations – whether in a retail setting or in the workplace – require confidence. “Many people are hesitant to negotiate because they don’t know how or they are worried about the other person’s reaction (Will they think I’m greedy?),” she said. “But practice can increase your confidence in your ability to negotiate. Rejection is less common than you fear, and retail stores especially are often willing to work with you.” She offered the following tips to increase the chances of greater deals at the check-out counter. Be nice. First and foremost, always be kind and polite when asking for a discount in retail settings, Hunter said. You are much more likely to be successful if someone wants to help you out, as opposed to demanding a discount or raising your voice to puff up your sense of power. It’s not a power play. Instead, negotiating is a matter of give-and-take. Find defects. It is easier to negotiate an item if you can find something wrong with it. Most stores have a policy in place that allows cashiers and salespeople to offer a moderate discount (typically 10-15 percent), but when they offer it, be persistent and politely try to push them for more. “I’ve negotiated a rug because it was on the sales floor and had frayed edges, a metal cabinet with a dent in the back (Who will ever see that? It’s in the back!), and clothing with a slight stain,” Hunter said. “Point out the defect to the person you are negotiating with and ask for half off.” Look for mark-downs. If an item is marked down or “open-box,” then ask for further discounts, Hunter advised. Remember, the store already acknowledged that the item is worth less than original price and they are likely desperate to be rid of it quickly. “Borrow” a coupon during check-out. When making a purchase, Hunter said she is often asked the question: “Do you have a coupon?” Instead of saying no, she said it might save some money to consider another reply. “Whenever I’m asked this question at check-out, I reply, ‘No, do you have one I could use?’ This works more often than you might think and can result in sweet savings. No clipping required,” she said. Prepare yourself – quickly. When you see an item that could be a good opportunity to negotiate, Hunter said it’s best to prepare quickly with three steps. First, set a strong goal for yourself, usually in the form of a steep discount you will request. Second, set a “redline” price, the highest price you are willing to pay. Third, consider your best alternative – which might be purchasing the same item online for less – if negotiations fail. Find a BATNA. “In negotiation lingo, we call your best alternative your BATNA – Best Alternative to a Negotiated Agreement,” Hunter said. “In retail, it’s extremely important to shop around both at other stores and online to see if the same or a similar item is offered elsewhere for less. This can be your bargaining chip to ask for a discount.” She explained that most big-box stores now have a price-matching policy, but it’s worth trying to go beyond the price match and ask for an additional 10 percent discount, particularly if you agree to purchase at that moment. “Think about it from the store’s perspective,” she said. “They want to keep you from buying from major online retailers, so they might agree to a discount.” Ask for a higher discount than you’re seeking. Let’s say you’re seeking $200 off the price of a refrigerator. Hunter said it’s not wise to start your negotiation by asking for $200 off, because you are almost guaranteed to get less than that. “In negotiations, both sides expect some give-and-take, and the retailer is unlikely to accept your first offer,” she said. “Start by asking for $500 off the fridge and see what they say. Even better, back up your offer by pointing out a defect, a cheaper price online for the same product or evidence of a sale at the same store that just ended.” Pretend you own the business. Think from the seller’s perspective, Hunter advised. Consider what the seller wants from you, the customer. Besides the obvious answer of higher sales and profit, simply offering to write a review online could be very helpful, especially for small businesses. “I once got a great deal on a tool cabinet because I offered to write a positive review on the customer experience survey (you know, the one you get on your receipt that few people fill out?). The manager said that would be wonderful because his store performance is assessed partly based on those customer surveys and he really needed a good review that quarter,” Hunter said. Always negotiate furniture. Hunter said the markup on furniture is often extremely high, as much as 80 percent, and that makes furniture a target for negotiation. “I always negotiate when buying everything from mattresses to sofas to end tables,” she said. “Ask for big discounts at first, as you never know how desperate they are to rotate their stock. And try asking for steeper discounts if you buy multiple pieces, or buying a sofa set and getting the coffee table thrown in for free.” Choose your opponent wisely. When you choose to negotiate, make sure you’re dealing with the people who can make the decisions, Hunter said. Sometimes the clerks on the floor might not be the best option, so jump straight to the cashier or the manager to work with someone who has the authority to make a pricing decision. Remember the ultimate goal. Negotiation is not just about saving a few dollars, Hunter said. Instead, it’s about building negotiating skills. “Negotiating in retail settings can be a helpful practice to build your confidence to negotiate more important items such as salary and work projects,” she said. “While negotiating salary and other relationship-based issues at work differs quite a bit from the strategies described here, the first step is having the confidence to ask.” ABOUT EMILY HUNTER, PH.D. Emily Hunter, Ph.D., associate professor of management in Baylor University's Hankamer School of Business, teaches negotiation and conflict management. Her research on employee work-family issues, workday breaks and deviant behavior has appeared in academic journals such as Journal of Applied Psychology, Journal of Management and Journal of Organizational Behavior. She is also the co-author of "Organized Innovation: A Blueprint for Renewing America's Prosperity." ABOUT BAYLOR UNIVERSITY Baylor University is a private Christian University and a nationally ranked research institution. The University provides a vibrant campus community for more than 17,000 students by blending interdisciplinary research with an international reputation for educational excellence and a faculty commitment to teaching and scholarship. Chartered in 1845 by the Republic of Texas through the efforts of Baptist pioneers, Baylor is the oldest continually operating University in Texas. Located in Waco, Baylor welcomes students from all 50 states and more than 80 countries to study a broad range of degrees among its 12 nationally recognized academic divisions. ABOUT BAYLOR’S HANKAMER SCHOOL OF BUSINESS Baylor University’s Hankamer School of Business provides a rigorous academic experience, consisting of classroom and hands-on learning, guided by Christian commitment and a global perspective. Recognized nationally for several programs, including Entrepreneurship and Accounting, the school offers 24 undergraduate and 13 graduate areas of study. Visit www.baylor.edu/businessand follow on Twitter at twitter.com/Baylor_Business.