You didn’t get where you are in life today without learning a few things, but one of the things you’ve learned is never to stop learning—especially from the masters. That’s why you need to...
Get more money for your department (even when times are tight)
“You’ve got to make your case in a currency that’s valuable to the other side: the bottom line,” says Deborah Kolb, author of
Everyday Negotiations and the Deloitte Ellen Gabriel professor at the Simmons School of Management. Try these strategies.
ONE Propose a “contingent agreement” in which a large sum is doled out incrementally as expectations are met. For every 10 new clients you bring to the company, for example, your departmental budget will inflate by $50,000 until you reach your goal of $250,000. “Asking for funds this way makes it easier for them to say yes,” says Kolb. “After all, it presents a low risk. If things don’t work out, their losses are minimal.”
TWO Ask for “in-kind resources.” These are underutilized resources that the company already possesses—half-time employees, for example, or office space or equipment. “The best thing about in-kind resources is that they come out of someone else’s budget,” says Kolb. “Asking for them also shows that you’ve thought about ways to get the job done without the additional funds.” Such creative leadership makes you a valuable resource.
Read Marcus Aurelius
The great Stoic philosopher (and emperor) Marcus Aurelius wrote his
Meditations while at war with the barbarians, and the composure that shines through in his prose is still stirring today. He wrote of the need for moderation and virtuous conduct based on reason. The words were sincere and full of a sense of manly duty. “Nothing happens to any man which he is not formed by nature to bear,” he wrote. A wiser and more elegant formulation of the current phrase “suck it up.”
Negotiate a Better Deal
The key to any negotiation is building rapport. “If a guy feels like he knows you a little bit, he’s a lot more likely to talk,” says Sergeant Joe Wellington, a 10-year veteran negotiator with the Kansas City, Missouri, police force. “If he doesn’t, he’s going to have his defenses up.” Establishing that connection requires four skills.
1 Be an active listener “Make the other party know that you’re listening by repeating some of what he says back to him,” says Wellington. If he believes that you’re listening to his point of view, he’ll be more likely to listen to yours.
2 Build trust Trust is one of the key requirements for getting to yes, and you want the person you’re dealing with to see that you’re a man of your word. Concede a minor point early in the negotiation to set the right tone for harder-nosed deal making later on.
