888-983-1617 [email protected]

Memphis Business Journal: Why Manners – and Southern Etiquette – Can Make a Difference in Business

I enjoyed writing an article for the Memphis Business Journal about the importance of manners in the business world and the effect they can have on a person’s career.

Read the article in the Memphis Business Journal.

Read the article in PDF.

As a Southerner by birth, I grew up in a culture where manners were of paramount importance.

When interacting with authority figures and peers, I came to understand the social benefits of maintaining proper eye contact, saying “please” and “thank you,” and having a firm handshake.

Yet, out in the professional world, I’ve been struck by how the continued value of these and other niceties isn’t commonly discussed. According to some studies, social skills are 85 percent responsible for personal success, as opposed to 15 percent from learned technical skills.

Out of the 10 U.S. cities boasting the highest levels of business growth, seven are located right here in the South, according to a recent CNBC article. The past five years have seen huge levels of business and employment growth in Southern cities, including Nashville, Orlando, and Charleston, South Carolina.

I don’t think this is a coincidence. Although our region’s economic success certainly can’t be attributed to solely etiquette, as a Southern business owner, I feel that it has played a part in businesses deciding to establish themselves here.

With civility seemingly on the decline in our world, it’s worth thinking about how we can incorporate this general attitude of courtesy into both our work and personal lives.

Respect in the Negotiation Process

First impressions are everything. When you treat a business partner with a lack of respect during the process of making a deal, you shouldn’t count on the relationship continuing. But, by bringing a different attitude to the negotiation process — treating it as an opportunity for both sides to solve a problem rather than as a situation where only one side wins — you have the potential to build a relationship that extends beyond a single deal and may result in a more mutually beneficial agreement.

In my experience, those who adopt the attitude of a hard bargainer are being short-sighted, trying to extract some kind of immediate value from a deal instead of seeing it as the first step in a lasting partnership. Naturally, you have to prioritize your interests in any negotiation, but empathizing with what the other party hopes to achieve can make a huge difference in the way you relate to each other.

I saw this dynamic play out recently with a client, a family-owned business that was up for sale. One buyer stood out from the others by the level of consideration he showed toward the family, which was understandably concerned with continuing its legacy. The buyer’s approach took into account the benefits of maintaining a strong, lasting relationship, while keeping his own business interests in mind. In the end, both parties felt the sale was a positive experience.

Balancing Work and Life

Some business owners may disagree with me, but I believe that the time we spend away from work is as valuable as the time we spend building our businesses. It may not always seem wise to leave work undone just so you can make it home for a family dinner. But, there’s a good argument to be made that the Southern tradition of keeping a healthy work/life balance has the long-term benefit of setting up the next generation for success.

I’m not advocating giving short shrift to business matters. However, there is real value to leaving the office at 5 p.m., staying largely offline during dinner and through the evening, and letting your home life be your primary focus until the next morning.

A major part of Southern civility is our continued devotion to passing on our values to each successive generation, both in our families and through nonprofits. By putting time and effort into this, we raise up a new generation that will eventually enter adulthood with an understanding of how Southern etiquette can be applied to their personal lives and business relationships.

5 Tactics to Boost Your Lower Middle Market Investment Banking Deal Origination

If you’re a lower middle market investment banker hoping to boost your investment banking deal origination, here are five suggestions of where to start.

Crucial Items To Be Considered When Selling a Business

Ask Us Anything Dear Oaklyn Consulting, What are some crucial items to be considered when selling a business? And do you help clients purchase as well as sell?   From Oaklyn Consulting A crucial first step toward the successful sale of a business is to do what...

Help Me Find the Right Leader to Continue Our Nonprofit’s Mission

Ask Us Anything Dear Oaklyn Consulting, I need advice. My husband and I started a nonprofit three years ago. We have secured funding and have been able to make an immediate impact in our community. However, we’ve experienced some health challenges and don’t have the...

How to Improve Your Investment Banking Deal Flow

Learn the four major key areas where investment bankers can improve their investment banking deal flow. Start optimizing your business operations today.

Why Hiring an Investment Banker is the Right Move for First-time Founders Trying to Exit

The value of your firm is influenced by the comparables for recently sold firms like yours. In this episode, Frank Williamson, Founder & CEO at Oaklyn Consulting, shares details about comps, valuation, and the benefits of an investment banker. Listen to the full...

The Road to a Successful Exit: Timing, Advisors, and Process

Exiting your business is a multi-step process that requires strategic planning and the right team at the right time. This session breaks down the timeline of an exit, from assessing your firm’s worth and preparing marketing materials to managing buyer interest and...

What Role Does an Investment Banker Play in Mergers or Acquisitions?

The exact role of investment banking in M&A can be confusing. Click here to understand where and when to leverage investment banking in M&A.

5 Questions You Must Ask Your Investment Banker

Hiring an investment banker isn’t something a person does every day. Learn the questions you should ask and the info you should get now.

What Does an Investment Banker Do and Why Do I Need One?

If you’re considering selling your business, you probably have questions. You may not know what investment bankers do or if you need one. Learn more now.

How We Help Investment Bankers Say Yes More Often

In investment banking, credibility is everything. If you’ve developed a reputation for successfully executing deals, having deep industry knowledge and being a trustworthy partner, your investment banking expertise might be highly sought after. While it’s great to...