Negotiating is an art. There are nuances and finely honed techniques and rules to be aware of. Here are a few of them:
Know what you’re doing. Sounds simple, but I’ve seen a lot of instances where I couldn’t believe how much the other side didn’t know. I immediately knew I could have a grand slam and fast, just based on their apparent lack of preparation. My father used to tell me, “Know everything you can about what you’re doing.” He was absolutely right, and I’m giving you the same advice. Follow it.
Remember, it takes a lot of smarts to play dumb. This is a good way to see how much your negotiating partners don’t know. It’s also a good way to see if they are bulldozing you.
Keep them a bit off balance. What they don’t know won’t hurt you, and that may help you down the line. Knowledge is power, so keep as much of it to yourself as possible.
Trust your instincts. There are a lot of situations that will not be black and white in negotiating, so go with your gut. Combine this with your homework and you’ll be ahead of the game.
Don’t be confined by expectations. There are no exact rules, and sometimes I’ve changed course in the middle of negotiations when something new has occurred to me. Remain flexible and open to new ideas, even when you think you know exactly what you want. This attitude has provided me with opportunities that I would not have thought about before.
Know when to say no. This has become instinct for me by now, but I think we all know when that buzzer goes off inside. Pay attention to that signal.
Be patient. I’ve waited for some deals for decades, and it was worth the wait. But make sure what you’re waiting for is worth it to begin with.
To speed up negotiations, be indifferent. That way you’ll find out if the other side is eager to proceed.
Remember that in the best negotiations, everyone wins. This is the ideal situation to strive for. You will also be laying the ground work for future business deals with people who know what integrity is.
In summing up, I can say that negotiation is an art. All the arts require discipline, technique, and a dose of imagination to take them beyond the realm of the ordinary. Don’t be an ordinary negotiator when you can be an extraordinary one. Devote time to this art and it can bring you enormous rewards.
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December 26th, 2007
Posted by
Coldie |
Leadership, Negotiating |
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Recently, I read an article from Careerbuilder.com about the Seven Deadly Workplace Sins. Last time, I gave you my take on Gluttony. Finally, it’s all about Lust.
First of all, it’s not what you’re thinking. Get your mind out of the gutter. When I’m discussing lust in the office, I mean an intense longing for other people’s success or other people’s work instead of your own. (Not an intense longing for the attractive person in the next cubicle.)
Here, they liken the sin of lust in the office to the “grass is always greener” theory. If you are obsessed with what your co-workers are accomplishing or striving for, then it’s guaranteed that your own achievements will pale in comparison.
Don’t become consumed with anything but your own work and your own triumphs. Any other obsession will create a negative environment and foster resentment and just not be constructive.
In the office, the only passion you should have is for your own work and your own victory. Don’t watch anyone else climb the ladder of success. Focus on yourself and you will succeed.
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October 25th, 2007
Posted by
Coldie |
Leadership, Work |
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Recently, I read an article from Careerbuilder.com about the Seven Deadly Workplace Sins. Last time, I gave you my take on Sloth. Today, it’s all about Gluttony.
When it comes to success, it’s hard not to want it all. And, to be honest, I’m not so sure that’s a bad thing. This, to me, is a lot like greed. If you have high aspirations and yearnings for big things, then you work hard and long and fast to get it.
But the caution here is that if you gorge yourself on just one thing - like someone sitting down at an incredibly prepared meal who later can’t push away from the table - then you lose. You become overwhelmed by that one experience and maybe too sluggish to tackle other projects or maybe even other parts of your life.
Some people think my work is my life. That’s true in a sense. But I also have time for a wonderful family and some fun, especially golf. Even then, I do business while I’m out on the links, but I enjoy what I do.
Overindulging in any one thing isn’t healthy - even if it’s work. Find a way to maintain some kind of balance and you’ll succeed.
Next time: Lust
October 22nd, 2007
Posted by
Coldie |
Leadership, Work |
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Recently, I read an article from Careerbuilder.com about the Seven Deadly Workplace Sins. Last time, I gave you my take on Greed. This morning, it’s all about Sloth.
There are few things I hate more than laziness. I work very, very hard and I expect the people who work for me to do the same. So if you’re lazy at work, you will get absolutely nowhere. While you’re sitting back twiddling your thumbs, you will watch everyone else whiz right by you on the fast tracks of their careers.
If you want to succeed, you cannot relax. You can’t do just the minimum, just what it takes to get by. Complacency is ridiculous for anyone who has aspirations of success. Treat every day, every project, every client as if your entire career depends upon how you handle it.
I never take vacations because I can’t handle the time away from my work. I recently read that these days, a high percentage of the people who do take vacations tend to check email and voice mail and call in to the office when they leave. Those are the people I want working for me.
Never be lazy. Never be complacent. When you sit down to do nothing, everyone will race by you.
Next time: Gluttony.
October 17th, 2007
Posted by
Coldie |
Leadership, Work |
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Recently, I read an article from Careerbuilder.com about the Seven Deadly Workplace Sins. Last time, I gave you my take on Anger. Today, it’s all about Greed.
One of my often-quoted sayings is “Greed is good,” so I have mixed feelings about greed being a workplace sin. I believe that you have to be motivated by some sort of insatiability for success. I guess that’s greed in a way. If you’re not driven, you won’t succeed.
Where greed can hurt you is if you want too much too soon and you only consider the short term, forgetting that some time you have to sacrifice the here-and-now in order to plan ahead. It’s worth it in the end when you work hard toward a long-term goal instead of only living in the present.
So, yes, greed is good, because it inspires you and drives you to work hard so you achieve and win and succeed. But don’t let it get in the way of long-term success.
Next time: Sloth
October 14th, 2007
Posted by
Coldie |
Leadership, Work |
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