The Makings Of Value-Driven Negotiation: 4 Key Points To Achieve The Advantage In Business Deals
Ever had a job that didn’t pay enough for the work you accomplished? When did you find out you were overqualified for the position? How long until you decided you deserve a company that treats you fairly?
Most people are taken advantage of in their job because they don’t communicate what they want. If people don’t take the time to express the value of their service, they’re left unappreciated.
At McDonald’s, employees work long hours on a time crunch, and in return, they’re paid a dollar above minimum wage. In 2019, a report was released that stated fast food restaurants have a 100% turnover rate! Do you think McDonald’s employees feel appreciated for what they do?
Many companies try to save as much income as possible, giving employees the short end of the stick. Employees are then left underpaid and unappreciated. Once this happens, it’s difficult not to go after better options for themselves.
Why is it challenging to have others acknowledge your value? Let me give you the million-dollar secret: It’s not about you!
When you’re in an interview, it’s essential to know the worth of what you bring to the table. Clients you’ll meet won’t know your value unless you tell them. By doing this, you’ll command respect by setting the standards your skills deserve.
To find a community of value-driven professionals who can help you receive the most value for your skillset, visit our website or apply to join one of our mastermind groups online.
Winning The Deal
Every person negotiates deals in their daily life, from a kid playing video games asking for five more minutes or a man making his first real estate purchase. With every conversation involving decisions, we must negotiate.
The average person doesn’t know when they are actually negotiating. Worse off, most professionals are clueless about how to begin a discussion. But if you take time to learn the process of how to navigate a conversation to gain success, you’ll not only score the deal, but your client will believe they did too!
In his book Business Made Simple, author Donald Miller says to become a great negotiator, you must follow these four points that will guarantee your success when striking deals.
4 Points Of Value-Driven Negotiating
So, maybe after you’re reading and thinking, “Big A! Every single point you’ve written is what I’ve experienced. I don’t want to undervalue myself anymore. HOW do I negotiate so I can achieve the success I’m aiming for?”
I understand. It’s tough to know what to say and what standards to set in negotiation. But there’s good news: Through understanding, practice, and an encouraging group of people who can support you, you can traverse discussions to meet your goals every time!
1. Two Types Of Negotiations
When a value-driven professional negotiates, they must understand the people who partake in these discussions. Not everyone sees the same way at the same time. Miller says there are two modes for negotiation:
- Competitive, a win/lose attitude
- Collaborative, a win/win solution
Within competitive mode, negotiators don’t need to be pleased with the intended result. They just need you to be displeased. This kind of win/lose attitude is essential because the opposing party will raise the price if they know everyone benefits.
But with a collaborative solution, both parties are happy to benefit together. They mutually determine if the deal is fair and reasonable for each other.
2. Nurture The Relationship
There’s a famous quote that goes, “In business, there’s no room for emotion.” What a bunch of nonsense! Value-driven professionals know that every action we take involves emotions.
Not all negotiations are rational. People have many motivations and various values. Bees don’t care when you take their honey as long you don’t hurt the nest. Value-driven professionals understand how to leverage what people want in a negotiation to achieve success.
As you negotiate, take time to ask yourself what motivates people, and you’ll close more deals.
3. Make The Initial Offer
Some professionals argue whether they should make an initial offer in a deal. But great negotiators know if they do this, they lose the ability to anchor the negotiation. By doing this, every other option revolves around the first offer.
While you have this strategic advantage, you’ll have control of the conversation to accomplish your goals. Regardless if you open first, learn to sway the offers, so you’re comfortable with the results.
4. Don’t Get Too Attached
We’ve all wanted something so much that we’ll compromise to achieve our goals. A great negotiator splits his interests and looks for other options. When we’re in control, we’ll have control of the conversation.
There are many ways to achieve the success you want to see. Focus on what you can control and all the opportunities available to you.
As a value-driven professional, now you know how to gain the advantage in any negotiation and maximize your success. At first, it’s challenging when you start, but it’s simpler than you think. But with faith, patience, and creativity, you’ll negotiate your way towards profitable results.
As you work through this, you’ll need other value-driven professionals who can help you navigate difficult discussions towards your success. Reach out to us at our website and apply to join one of our mastermind groups online.