Are you a born negotiator? Not many of us are. Even if you are good at it, how successful are you when you are negotiating for yourself in situations that are critical to you, your business, and your career as opposed to for your company or your clients?
I know as soon as the negotiation affects me personally, arriving at a compromise is not as easy as when I am arranging a new car lease or buying something from a street vendor. In each of those two situations, I can walk away. I will probably never see or deal with that person again. Neither my emotions nor my ego are invested in the results.
What about negotiations that deal with compensation, employment or client contracts, staffing an important project, or being part of a team? These are personal. The results can reflect on our ability to perform well. The results represent how we define ourselves and the value our employers or clients assign to us. How good are you in these and other situations that are more personal?
The definition of negotiation is a discussion aimed at reaching an agreement. The best possible result would be an agreement that benefits both parties involved. But have you ever been involved in a negotiation where you felt that your “give up” was greater than the other side? If this sounds familiar, ask yourself:
1. Did I ask for enough? Whether it’s asking for increased compensation, a higher fee, improved benefits, more time, additional help, new title or promotion, sometimes a small voice in your head warns you of overreaching, asking for more than you can get or deserve. If this is the case, you have already lost the negotiation before you sit down at the table. Managing your expectations realistically are necessary, but just make sure that you are not limiting yourself because of fear.
2. Did I have enough information? Did I do enough research on my topic? If it’s compensation or fee structure, did I do my homework on comparables? Did I understand the firm psychology and culture? Information provides you with the bargaining strength you need to ask for what you deserve. It also serves as validation for your ask.
3. Did I know what I really wanted the outcome to be? What did I specifically ask for? You need to define what you are willing to give up. What is absolutely non-negotiable? When you walk into that room know how much you can give up without feeling that you are being taken advantage of.
4. Did I communicate my arguments effectively, did I make a clear case? Did I communicate how the other side can benefit if I prevail? Always try to see it from the other side so you can understand their position and make sure your pitch is designed so that their needs are taken into consideration.
5. Did I handle the objections well? Preparation is key to anticipating what the objections might be so you can come up with the right answers that strengthen your case.
Are there other ways you prepare for these types of negotiations? We would love to hear them.
Utilizing her experience of over 25 years Mary Rosenbaum empowers careerists and entrepreneurs to gain greater clarity and more effectively communicate their unique promise of value. Strong leadership means leading with your strengths. Get her free report Top Strategies for Getting Visible and Getting Ahead.
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