I'm reading a really interesting book called "Getting More: How to Negotiate to Achieve Your Goals in the Real World", by a Wharton professor named Stuart Diamond.
Stuart talks about how to achieve more and achieve better "positions in life". From a free coffee to a multi-billion dollar deal to a simple discount on a T-shirt. Let's be honest, we all want more.
I have been working with business development for almost 2,5 years and a good part of my day is related to negotiating something. Whether with Sendgrid engineers, partners in the initiatives I participate in, or deals I'm working on.
I did not go to Stanford, MIT, or some renowned MBA. Sometimes I felt highly intimidated by some calls because of that. Until a time came when I had to make decisions and force some things into a deal. I achieved success in negotiation and today this is Sendgrid's 3rd largest customer conversion channel. Knowing how to negotiate is really very important.
The following are 12 fundamental steps highlighted in the book.
This is quite simple, but in practice, it can be more complicated than it looks. There is no use being nervous about the telemarketing attendant or the person on the other side of the counter. It will only harm you. Any attitude must explicitly bring you closer to your ultimate goal. Many times we take too long to state our real objective during a negotiation, in some cases, this can serve as an interesting tactic, but in most cases, it is not the case. It pays to be honest straight from the start.
Always think of others. What position are they in right now? What kind of people do they usually trust? What kind of commitments do they usually get? So, put yourself in their shoes. "To be most effective, you must put people in a position where they really want to do something."
According to Diamond, people are irrational. Anyone motivated by a purely emotional state will not listen to your arguments, let alone be persuaded. Value the people you negotiate with or you may end up negotiating things emotionally. Try to have the rationale as the focus of the discussion.
It is more important to listen than to speak at the beginning of the negotiations. Thus, you will acquire more context about who you are negotiating with and what you are negotiating with.
Many people start negotiations by asking too much at the beginning or by making demands that have no context or support. If there are many differences between the parties, it is important to move slowly rather than getting burned.
It is very important to understand what the other party cares about. Inside and outside the scope of negotiations, emotionally or rationally. Understand this and make exchanges that are valid for the other party, but are irrelevant to you.
What are the terms, conditions, and rules that come with the negotiation itself before it even starts? This is actually very effective when you need to do multiple leverages.
Be yourself. In the long run, any mask put on or information not provided will appear and everyone will lose out on it. "Being true is great for your credibility, which by far is your greatest asset."
Most negotiations fail due to sheer lack of communication. It is more effective to tell the truth and seek a joint solution than to do the opposite.
To understand exactly what may be limiting you in a negotiation, you need to understand what exactly is preventing you from reaching your goal. Problems are opportunities.
Most people think that differences are risky and even feel uncomfortable with them. You can learn a lot from differences. Use them to your advantage and ask more questions, instead of just accepting everything as it is.
Before entering into a negotiation, having a list of possibilities and what to respond to these scenarios is very positive and can make a huge difference to the final results. On the Getting More book website, you can find a basic list to get started, but ideally, everyone should build their own "negotiation list".
Whether you are an entrepreneur, employee or a homemaker mom, there is always something to negotiate and possibilities to get more and better.
I left ONEVC to start a new professional chapter. The ONEVC dream lives on, and I will continue to support all portfolio companies I worked with.
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