No doesn’t mean no forever. It means no for now. It means not yet. It means that your current offer hasn’t enticed them enough or that they are not motivated enough to accept your offer. No isn’t the end of the discussion, it’s the beginning of the negotiation. If you really want to make a deal, don’t stop at no. Dig deeper and see what relatively minor concessions you could give to the other party (which may be of little value to you, but greatly valued by them) to sweeten the deal.
Tag: winning
How to lose
Don’t let your competitive side get the best of you. It’s fun to win. It sucks to lose. But keep things in perspective. Unless your livelihood or your family’s livelihood depends on you winning this game/earning the contract (whether in sports or in business), it’s probably not worth losing your cool over.
Don’t flip the monopoly board, throw the controller, or punch a wall because you lost. Everyone loses something in life. That’s just how life works. If you’re not losing in something then you aren’t pushing yourself to play against the proper competition.
When you lose, lose with dignity. You’ll maintain respect. If you lose and act like a child? People will lose respect for you.
Empathy as a starting point for negotiation
Listening shows empathy. When people feel listened to and understood, they are more likely to work with you. You can work in tandem towards a common goal (or at least a compromise) much easier if you start out by showing that you are listening to them.
When you truly listen to somebody and they can feel you are listening to them, it’s a sign of respect. That’s why you have to start out with empathy and active listening to obtain the best results in any negotiation or sales process. It’s important to use both empathy and active listening throughout any conversation, but especially at the start, because first impressions really do count for something. Don’t dig yourself into a hole before you really get started by disrespecting the other person/party.
You have to understand what it is that the other side wants. What is the issue they want solved in order to provide the best response. What is their pain point and how we can alleviate their pain?
If you go in with the same sales pitch every single time, it may work in certain situations, but your solution may be completely wrong for them in other situations. Listen, dig deeper, and empathize with what they are feeling to show respect and to get further in negotiations.
Go into every negotiation or sales pitch with one thing in mind: How can we make this a win-win situation so both sides leave happy, nobody leaves holding a grudge over the other side, and you don’t hurt yourself in future business with that person or their friends?
Action —> Competence —> Confidence —> Success
Taking action will help increase your competence, which will give you more confidence. The more confident you are, the more likely others will be drawn to you, increasing your likelihood of success.
If you want to be successful in anything, it all starts with taking action. Whatever you are afraid of, that’s probably what you need to do. Charge towards your fears or what is difficult for you. Chances are, it’s difficult for others as well, and when you’re willing to do what others aren’t, you’ll see results that they won’t get. Take action. Ryan Holiday paraphrases a famous Marcus Aurelius quote (shown below) with the title of his best-selling book, “The obstacle is the way.”
If you’re afraid of prospecting for new clients, that’s probably because you are uncomfortable doing it and you need to do it. You have to take action to actually get better at it. The more you practice something, the more competent you’ll become, and the more competent you become, the more confidence you will earn.
It will be difficult to make the decision to deliberately put yourself in a position where you might fail, but you must do this. It is the only way to get better quickly. You can read or talk with others who have done it before you all you want, but eventually YOU need to take action. The sooner you realize this and start doing it, the quicker you can achieve your dreams.
Speak softly and carry a big stick.
When you’re negotiating, try to work cooperatively with the other side which will often lead to the best “win-win” outcomes. The opposite can be said when trying to negotiate competitively with the other side, where there is usually a winner and a loser. Sure, you may win that time, but who will want to keep working with you if they keep walking away with a sour taste in their mouth?
Having the “power” or perceived ability to get things done if things don’t work out exactly as planned will also help with the negotiation. What this means will change in different situations…sometimes it will mean that you can get what you want done by force or persuasion, other times it will mean that you will work to get the best possible outcome for both parties. Either way, you should be able to follow through with any promises you make and people should feel confident that you’ll do what you say.
Lastly, don’t constantly “blab” or else people will tune you out (almost like Charlie Brown’s teacher). Your words carry less weight the more you talk and your reputation will get dinged every time you don’t follow through with your words.
