A guide to power negotiation for women

Women have all the qualities to be effective negotiators. The only step that doesn't allow many women to take a winning pedestal is not taking the negotiating step at all. You can change this with the help of our negotiation guide for women! Learn more about helpful tricks and techniques for your next negotiation.

Transcript

1. Liinea.com A guide to power negotiation for women
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3. Liinea.com What can we negotiate? At work At home In daily life
4. Liinea.com • Think of situations in your life where you could have negotiated for a better outcome… • In how many of these situations did you actually negotiate? • What stopped you from negotiating?
5. Liinea.com Why do men make more money than women? ”After YOUR MBA graduation, DID YOU negotiate your job offer? “ 50% of men 12.5% of women ”When you got your job offer, Did you attempt to negotiate?“ 57% of men 7% of women said YES said YES A study reveals that while most women don’t negotiate when it comes to a new job offer — those who try to get more money are generally successful.
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7. Liinea.com Why women don’t negotiate? • Less confidence • Want to be liked • It will ruin the relationship • Low demands (good enough) • Don’t have the right skills
8. Liinea.com Not negotiating can be seen as lacking leadership skills Sheryl Sandberg says that in her negotiations with Facebook she told them “Of course you realize that you’re hiring me to run your deal team so you want me to be a good negotiator.”
9. Liinea.com What are the key negotiation skills • Empathy • Effective communication • Listening • Rapport Building • Problem Solving • Decision Making • Assertiveness • Dealing with Difficult Situations In all these skills women perform better than men
10. Liinea.com The Female Brain • Has 11% more neurons in the thinking, hearing and language sector • Hippocampus (memory) is bigger
11. Liinea.com Women negotiate better for others Research shows that women perform better when their role is to advocate for others as opposed to negotiating for more for themselves. Men’s behaviour and the ensuing social effects don’t shift much depending on whether they are advocating for themselves or others. Women outperform men in representation negotiation by 23% Source: https://hbr.org/2014/06/why-women-dont-negotiate-their-job-offers
12. Liinea.com In short ♔ Women are excellent negotiators ♔ Negotiation is not only about negotiating your job offer and your salary ♔ Start negotiating every day (at work, at home, in daily life) to prepare yourself for your big negotiation that will change your life for better
13. Liinea.com Everything is negotiable Key principles of negotiation
14. Liinea.com What is negotiation? A fair and equal transaction ? Compromise? A joint decision that meets both parties interests ? Treat negotiation as problem solving exercise
15. Liinea.com The 4 principles of negotiation Know what you want Know your limits Trade your options Forge a partnership
16. Liinea.com 1. Know what you want
17. Liinea.com A negotiation scene from “Just go with it” https://www.youtube.com/watch?v=lMA48vIxajE
18. Liinea.com Why are children the best negotiators? 18
19. Liinea.com Because • Structures your pitch • Gives reason why • Gives legitimacy • Persuades The most powerful word in negotiation Use BECAUSE to formulate your requests or demands
20. Liinea.com 2. Know your limits
21. Liinea.com Answer that question before any negotiation. It will help you to stand on firm ground even with parties more powerful Be ready to walk away to keep the doors open When should you be ready to walk away?
22. Liinea.com 3. Trade your options
23. Liinea.com What is the most useful two letter word in a negotiation? IF
24. Liinea.com Trade Options 1. Create your list of demands and issues 2. Trade them, individually or in packages
25. Liinea.com Negotiation is about trading Nothing should be given away “for free” If I … wILL you …? If I accept your salary offer, will you give me flexible working hours ?
26. Liinea.com If I …will you…? “If we order a set menu for 10 people, will you offer us a discount? “ In a sale: your client is asking for a reduction in price? “If we reduce the price, will you be ready to sign the contract today?” At home: your kids want to go to a concert which is in a different town. Your husband doesn’t want to go there just now “If I drive the kids to the concert, will you pick them up?” In a restaurant: you call a restaurant to book a table for 10 people.
27. Liinea.com Get into the habit of using IF every time you trade your options
28. Liinea.com Ask for action, not permission • A restaurant was loosing $900k a year on ”no- show-ups” • The owner instructed the receptionist to stop saying “Please call us if you change your plans” and start saying “WILL you call us if you change your plans?” • The no-show rate dropped from 30% to 10% Will you… ? Instead of Please “Will you send me an email confirming in writing what we have agreed ?”
29. Liinea.com 4.Forge a partnership
30. Liinea.com Forge a partnership ✔ Emphasise the relationship ✔ Frame negotiation as a joint search for a solution ✔ Emphasise fair standards
31. Liinea.com Emphasis on building a relationship At work: “My priority is to continue our long lasting relationship” ”I really like……I appreciate …. My goal is …” At home: “My main goal is for you to be happy…” ”I would never ask this if it wasn’t so important for me…” In a daily life: “I really want to buy it from you (and not from someone else)” “I really want to find a solution that will be benefit both of us”
32. Liinea.com Frame negotiation as a joint search for a solution Negotiation is a problem-solving exercise • Ask for help (“help me out here”) • Ask for advice • Hot potato technique: send back the question to the opponent • “How am I supposed to do it?” >> make them think and find the answers Let’s find a solution together What would be your advice? If you were in my shoes, what would you do? “This negotiation has been going on for too long. Help me out here, what do we need to do?" What is it going to take to make this happen?”
33. Liinea.com Emphasise fair standards “My only goal is to make sure that this is fair”
34. Liinea.com Complaining is not negotiating! 34
35. Liinea.com What can you ask in return ? 1. Your flight has been cancelled 2. You booked a table in a restaurant to celebrate your anniversary but when you arrive, they can’t find your reservation and the restaurant is full 3. You arrive at a hotel on a hot summer day, go to your room and find there is no aircon and a very small window
36. Liinea.com Objections in negotiations
37. Liinea.com I totally understand. It is exactly why I wanted to talk to you.
38. Liinea.com Labelling and mirroring If the counterpart gives you an objection that you don’t understand: Mirroring is repeating the last 2-3 words or the most critical words your prospect says. CEO: There’s no way we could review your salary until the end of this year. You: The end of this year? If a prospect is emotional, angry, not talkative, hesitant: Labelling is when you name the emotion your buyer is expressing. •It seems like you … •It sounds like you … •It looks like you … “It seems like you are not willing to find a fair solution” “It sounds like you are not ready to invest in the growth of your company” “It looks like you are not keen to continue this conversation” Chris Voss in his book, Never Split the Difference
39. Liinea.com Negotiation tactics - silence If you struggle to come up with the right things to say in crucial moments Being silent in a negotiation creates social awkwardness for the other person, creating the urge for them to continue talking. 23 ...22 ...21 ...20 ...19 ...
40. Liinea.com Recap: The 4 principles of negotiation Know what you want Know your limits Trade your options Forge a partnership
41. Liinea.com What Will Your Next Negotiation Be ? Write down your negotiation resolution
42. Liinea.com What to read to master negotiation skills?
43. Liinea.com Women negotiate better for others. So next time you are negotiating, negotiate for your family, for your children or even for your future children! And remember…
44. Liinea.com visit liinea.com Join our sales workshops liinea.com/workshops