by Deb Schmidt
- Know what you’re worth both in the industry and within your organization.
- Determine what you hope to accomplish from this negotiation.
- Make sure you’ll be talking to the decision-maker and learn everything you can about that individual.
SET GOALS AND LIMITS —
- Goals should be few, specific and realistic.
- Distinguish between your negotiation goals and your personal goals.
- Your limits define what you are willing to give up in order to get what you want.
- Don’t state your limits early in the negotiation or you may paint yourself into a corner.
MAINTAIN EMOTIONAL DISTANCE —
- Emotional distance gives you the opportunity to objectively review the negotiation process.
- Stop for a coffee or restroom break to pause the process for 10 minutes. This benefits both parties by keeping the negotiation more focused and effective.
- In high stress situations you can ask for a night to sleep on the decision or run it by someone like your partner or spouse.
KNOW WHEN AND HOW TO CLOSE —
- Watch the other person’s body language for signs of receptivity.
- Close as early in the negotiation as possible.
- Ask “what if” questions to get buy-in. (What if we could increase your employee retention by five percent?)
- “No” is a close. Maintain a positive attitude and sincere enthusiasm in spite of the outcome.