One of the most challenging things to do as an employee is asking your boss for a raise.  Many people don’t enjoy negotiating and feel uncomfortable asking for more money.  However, securing a raise is critical if you want to achieve financial success.  If you have been putting in extra hours, meeting or exceeding performance goals, and creating positive results for your company then it might be time to ask for a raise.  Remember the old adage, “nothing ventured, nothing gained” and go for it! Here’s how you to plan the perfect pitch in order to negotiate the pay you deserve.

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Most consumers agree that they hate nothing as much as shopping for a car. Car salesmen have a reputation for squeezing every last dime out of their customers and they are actually pretty good at it.  Why…because car salesmen are excellent negotiators.  They negotiate all day every day so when you step on the lot, you better come prepared so you can find leverage against these experienced negotiators.    The next time you step onto a car lot, try a few of these negotiating tactics and you just might find yourself driving home in the car of your dreams. Continue reading →

We have all been in a situation where we are trying to reason with an incredibly difficult person.  It can be frustrating to say the least.  They might act aggressive or try to control the conversation and sometimes can be a bit confrontational.  While it is may seem impossible to reason with an unreasonable person, you can defuse the situation by staying calm and with the right communication techniques,v8 you just might find that you have turned that aggression into cooperation.  Below are just a few tips on how to negotiate with difficult individuals.  Continue reading →

For many people, the thought of negotiating is enough to cause a stomachache to ensue.  Negotiation can be uncomfortable, nerve-wracking, and unpleasant for those who are shy or introverted. Then, however, there are those who can strike up a conversation with anyone and have the ability to sweet talk their way out of just about any situation. They are confident, likable, and have incredible communication skills.  These people might be considered natural born negotiators.  Luckily for these people, there are plenty of high-paying jobs that allow them to exercise this valuable skill on a daily basis.  Here are just a few of the best jobs for natural negotiators. Continue reading →

So many aspects of our lives are influenced by negotiations and yet so many people spend time learning what it takes to become great at this skill.  Some people who have spent years perfecting this skill are attorneys.  Law is a profession that requires an innate ability to read people and know how to react to what they are saying.  After all, they have to negotiate for a living.  Since negotiation plays such a crucial role in an attorney’s profession, they have learned plenty of tips and tricks along the way.  These same tricks can be utilized in the business world to build better relationships, negotiate salary, make better purchases, and handle disagreements.  Here are just a few important negotiating strategies that are utilized by attorneys.  Continue reading →

It’s not something we think about every day but the fact is our global society is highly dependent on effective negotiations.  Negotiation stops wars and signs treaties.  Negotiations are the foundation of humanitarian initiatives.  Negotiation is what builds corporations and drives our economic growth.  We rarely think about the impact negotiation has on our country and how it has impacted the world throughout history.  The following master negotiators have made some of the most pertinent decisions that changed the course of history. Continue reading →

The ability to negotiate well is an art that encompasses several key components such as clear thinking, effective communication, the ability to listen, and the ability to see alternate points of view. Each of these skills requires clarity of mind in order to verbalize your thoughts as well as a capacity for empathy so that you can remove your ego from the negotiation. Meditation allows a person to enhance all of these skills. Therefore, if you want to make the most of your next negotiation, you might consider meditating beforehand. Continue reading →

If you are going to be successful in the corporate world you need to get comfortable asking for what you want. Most people, however, are extremely uncomfortable negotiating and asking for things they need. People avoid asking for things for fear of rejection. They are worried that they will come across as too aggressive or that they will offend the other party. That said you will never get what you want unless you ask for it. If there is something you need, be it a pay raise, a promotion, or a deal with a client, you need to step up and get ready to negotiate for it. Here are a few tips to help you get the most out of a negotiation.

Assume You Will Get It
When you remove the fear of rejection, you become more confident. You have the ability to take the emotion out of it and focus on a win-win solution. Assuming you will get what you want enables you to make more thoughtful decisions and earn more respect in the negotiation.

Practice Your Pitch
We are all familiar with the saying “practice makes perfect.” While there is no guarantee that practicing your sales pitch will get you the close, it will certainly increase your chances. Familiarize yourself with the information and enter the negotiation prepared to go for the win. The more knowledgeable you are and the more prepared you are, the better your chances of getting what you want.

Sell Yourself
Never walk into a negotiation asking for what you want. Instead, be prepared to explain why you deserve it. There is a huge difference between saying “I need a raise” versus “ I have hit my goals for the past 6 months and I think my work has proved that I am worth more than what I am currently making.” This puts the ball in the manager’s court and forces him to provide an explanation or to concede with a pay raise.

Know the Other Side
In any negotiation, it is important to know what the other party wants. You have a lot more leverage if you can provide what the other person needs. Negotiations are about creating win-win solutions so you need to make sure you know what it is that your counterpart is looking for. If you want a raise, be prepared to promise results and revenue. If you are looking to close a deal with a client, make sure you give them what they need if they are willing to pay your price. The best negotiators are the ones who know how to listen to the other party.

Be Prepared to Walk Away
It is one of the hardest things to do but you must make it clear to the other party that you are willing to walk if the terms are not to your liking. Know your target price and your walk away price before you ever begin the negotiation. This prevents you from agreeing to unreasonable demands and also puts more pressure on the other party to give you what you want.

Know Your Worth
If you want to get what you want out of a negotiation you must first know yourself. Your best bargaining tactic is your self-worth. Make sure you know what you bring to the table and be prepared to effectively communicate that. Take the time to compile a list of strengths, skills, and accomplishments. Present this during your negotiation and make sure your manager knows you provide something that is valuable. Once you have showcased your worth, be prepared to negotiate as if your life depends on it!

Whether you are starting a new job or gunning for a promotion at your current one, it is always important to negotiate salary.  Many people avoid salary negotiation out of fear, but you risk missing out on bigger financial opportunities when you avoid asking for a raise.  Negotiating a better salary is something everyone will be forced to do at some point in their careers, so when the time comes it is important to approach the issue objectively.  Here are a few important things to know and tips for getting the most out of your next salary negotiation.

Know Your Value

If you want to get the pay you deserve, it’s crucial to know what you’re worth before walking into the negotiation.  This means doing some research to find out what the going rate is for a similar position in your industry and geographic area.  Next, you need to make a list of what special skills, talents, and accomplishments you have received so your employer knows exactly what you are bringing to the table.  If you want more money you need to convince them that you deserve it.

Resist Throwing Out the First Number

Oftentimes an employer or hiring manager might ask what your salary requirements are.  If they do, you should say that they are based upon the position and the overall compensation package.  If you throw out a number, you risk getting less than you could have gotten if the employer had a higher number in mind.  Furthermore, the employer is likely to only pay you the minimum amount you require so let the salary ball remain in their court.  If you are forced to give a number, provide a salary range that would be appropriate for that position based on your research.

Avoid Accepting the First Offer

Don’t be afraid to let the employer know that you want 24 hours to consider the offer.  This gives you time to come up with a reasonable counteroffer and it lets the employer know that you aren’t willing to settle.

Understand Your Leverage

Your negotiating power is highly dependent upon your current employment situation.  For example, if you are unemployed and applying for work, be prepared to accept slightly less than what you might want.  If you are going for a promotion or a new job, you have a little more bargaining power because you are not desperate to accept the first offer.

Negotiate More Than Just Money

It’s important to understand that negotiating your salary doesn’t mean money alone.  Your salary is more than just a paycheck.  It encompasses a number of other perks and benefits such as vacation, flex-scheduling, professional training, healthcare, childcare, and tuition reimbursement.  While dollar signs are certainly important, these other forms of compensation should also be considered as part of the negotiation.

Slumps in motivation is normal in sales and usually isn’t cause for much concern.  However, long-term lack of motivation and enthusiasm can lead to reduced profits and major consequences for the company.  While it is true that salespeople are always going to be faced with obstacles the fact is…no desire translates to no motivation.  Salespeople need constant motivation in order to remain positive and enthusiastic about their job and if you want your sales team to succeed they must have a lot of enthusiasm.  If you have noticed a lack of energy from your sales team, here a few things you can do to increase their energy and make them more enthusiastic employees.

Provide Helpful Feedback

Happy employees are confident in their work because they receive regular feedback from their superiors.  It is important to offer advice to your sales reps and critique their performance.  This allows them to make the necessary changes for improvement and ultimately sets them up for success.  Likewise, it is equally as important to recognize great performance and let them know when they have done something well. Making time for your team lets them know that you value them and want to help them succeed.

Encourage Breaks

Salespeople typically make a high volume of calls each day which can be incredibly draining.  With each call they are constantly expected to be ready to answer a slew of questions, prove the value of their product or service, and do so with a positive energy.  That can be difficult even for the best sales reps.  Encouraging your team to take breaks between calls or go for a walk if a call has gone bad can do so much for their morale.    It allows them to be refreshed and ready to go for the next call.

Offer Incentives

Putting in place the right incentives and pay structures can mean the difference between your sales team hitting or missing their goals.  Incentives are a great way to boost enthusiasm and really motivate your sales team to put forth their best performance.  There are several ways to incentivize your sales team.  You could implement commission tiers, whereas the higher the sales the higher the commission percentage.  You can also attach bonuses for specific results.  You could also encourage friendly competition by offering a reward to the sales rep with the highest numbers for the month.  You want to promote motivation in your organization by rewarding your sales team for their hard work.

Foster Continuous Learning

When managing salespeople you need to constantly monitor their knowledge and do everything in your power to ensure that they are continually learning about your industry, products, and services.  When you sales reps feel knowledgeable about what they are selling, they are much more likely to feel confident and enthusiastic about selling it.

Provide Opportunities for Growth

Every sales rep wants to know the path for advancement at the company and the most enthusiastic employees are the ones who are working to get a promotion.  If the opportunity for growth is stagnant, your sales team will put less effort into their jobs.  Therefore, you need to make sure there is a transparent plan for advancement in place.  This will motivate your entire team because they will clearly see the benefits for their hard work.