Negotiation tips

6 Negotiation Tips for Introverts

Rachel Slifka — Tue, 30 Oct 2018 08:00:12 +0000

Some people are natural negotiators. They are the smooth-talkers who always manage to say the right thing to get exactly what they want. Where most of us are at least somewhat fearful about the idea of negotiation, these people seem to enjoy it.

Negotiating can be especially challenging for introverts, not because they lack confidence, but because negotiations can have a confrontational tone, and often require some posturing and bluffing — which are not communication tools introverts typically use. Though introverts may be less comfortable with the act of negotiating, they have many strengths that can aid them in the process. (See also: 6 Smart Money Habits of Introverts)

No one is born a good negotiator. Negotiation is a skill, and it takes a lot of practice. And here are six ways introverts can become stellar negotiators. (See also: 8 Negotiating Skills Everyone Should Master)

1. Research and prepare

Introverts tend to flourish when they have researched and prepared in advance. By researching, you armor yourself with the facts. This is vital, because you no longer have to rely on your opinion or emotions, both of which can be difficult for introverts to openly share.

Figure out what the going salary is for someone in your location and with a similar level of experience. Collect data from multiple reliable sources. Then create a list of everything you've accomplished in the last year. If you've saved the company a significant amount of money, for example, be sure to include that in your documentation.

2. Consider the outcome

Think about how the other party might potentially respond to your negotiation request. For example, if you are asking for a raise, how will you respond if they agree? What if they disagree? What if they completely blow you off?

Assess every possible outcome and how you will handle it. Consider what you're asking for. Do you have a bottom line? What would be the bare minimum you hope to gain from having this conversation?

Nothing is worse for an introvert than being thrown for a loop, so be realistic and plan for the unexpected.

3. Cut to the chase and ask

So many opportunities are missed because people aren't sure how to ask for what they want, or are too afraid. Share your data, get to the point, and ask for what you want. If the other party doesn't agree with your terms, it is likely because they either didn't believe the facts, or they don't have enough resources to sustain your claim. Either way, you never know what you can gain unless you ask.

4. Show them how it's mutually beneficial

Make your case for why you deserve what you're asking for, but also be sure to include what they'll gain by giving it to you. A successful negotiation will showcase how this proposition will benefit both parties. If it's a promotion you want, for example, point out how you'll increase the bottom line, or improve the company in this new role. (See also: 6 Reasons Introverts Make the Best Employees)

5. Don't forget to pause

Typically, introverts love to take their time to think about what they're going to say before they say it. Because of this, any long pauses or any unexpected questions can instill a fear of the unknown. Long pauses, however, can be used to an introvert's advantage.

If someone asks you a surprising question, don't hesitate to pause before you respond. While you're gathering your thoughts, the other person may even offer further explanation or clarification, buying you extra time to make your point. (See also: 7 Everyday Situations That Introverts Ace)

6. Practice, practice, practice

Rehearse everything, from how you will enter the room, how you'll greet the other party, and how you plan to take hold of the conversation. Avoid going into in-depth explanations as to why you want what you want. Stick to the facts.

It might feel somewhat silly to practice your negotiation tips, but the more you rehearse, the more your confidence will grow. Notice if you're fidgeting, stuttering, or speaking unclearly. Remember, keep your responses short and to the point to clearly communicate what you're asking for.

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This article is from Rachel Slifka of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

How to Successfully Negotiate Everything With Your Kid

Aja McClanahan — Tue, 23 Jan 2018 09:30:09 +0000

Kids want things. They want lots of things. And while they sure are cute, they don't bring in any income to offset the money you spend on them. In fact, kids are pretty much a money suck from the moment they're born until the day they leave your home. And for some, even kids who've left the nest stay attached to the family wallet.

Luckily, you can give your kid a jumpstart on financial literacy through the art of negotiation, even when they're young. This is not a quick method of training by any means. You'll get tired, you'll get frustrated, and on more than one occasion, you'll want to give in to the whining because it will drive you utterly insane.

However, in the end it will be worth it. You'll have taught your children the value of money. You will reduce the risk of having a child that depends on your financial support well into their 30s, 40s, and beyond. (See also: 7 Money Conversations Parents Should Have With Their Adult Kids)

Here's how to teach your kids negotiating skills that will last a lifetime.

1. Start slowly

If you're going to start tracking chores, grades, good attitudes, and self-generated initiative while tying that to a well-thought-out compensation system, you're in for a big surprise. It just won't happen that quickly or easily.

Choose one or two things to track and reward. Then add more once your kids have come to expect consistent outcomes with those things. (See also: The Easy Way to Set an Allowance That Won't Ruin Your Kid)

2. Make a trade

You may think you have no advantage in this game. After all, your kids need things and you've got to provide them, right? Yes and no. You're obligated to provide things like food and clothing. Does it have to be fancy food? Must you spring for designer clothing? Unless your kids do something to deserve these premium privileges, the answer should be "no."

They want to eat out at a restaurant? Go to a friend's house? Get extra screen time? These are all perfect opportunities to extract something out of them, like chores, or best behavior. (See also: 21 Things You Should Make Your Kids Pay For)

3. Be consistent

Once you've made a deal with the kiddos, do your best to deliver quickly. Set expectations, terms, and timelines so there is no question on what was negotiated. Put your deal in writing if you have to. Kids will either get super technical or conveniently forget and skew terms in their favor.

Being consistent and holding up your end of the deal will show you mean business. For this to work, they need to know there's a reasonable chance that the consequence of their actions will always materialize, whether good or bad. (See also: 4 Parenting Mistakes to Avoid When Teaching Kids About Money)

4. Create a system

A system will help you keep track of it all. You can write down tasks and goals on a whiteboard stuck to the fridge or a clipboard as a checklist. If you are an electronic family, keep a spreadsheet or use an app.

Furthermore, if money is involved, try to have cash on hand to deliver on your negotiated rewards. It's easy to say you need to get change then totally forget. Your kids will remember and will figure you aren't for real when you don't make good on your promises. They won't be up for negotiating much when this happens. (See also: 3 Good Money Examples Every Parent Should Set)

5. Be patient

You might think your kids will be very motivated by this sudden change in how money and rewards are handled in your home. They'll get more chances to earn money and other rewards for doing things they should be doing anyway.

To you, this new system should be a no-brainer. It seems like a win/win, right? The honest truth is that kids are pretty lazy by nature. Sure, there are those super-motivated, money-savvy kids you'll catch on Shark Tank, but the average kid isn't making deals on Shark Tank.

However, kids are also programmable. This is good news because they can be trained on your new system of good and bad consequences. The bad news is that it will take time to program them.

Stay committed to the cause and train your kids to understand the cause and effect of laziness versus productivity. If you're patient and consistent, your kids will get used to this way of life. (See also: Should Your Kids Contribute to Family Money Goals?)

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This article is from Aja McClanahan of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread: