The Art of Negotiation

The art of negotiating is a critical skill to master and is necessary in order to further your career, regardless of what field you currently work in. Negotiating and effective communication skills will help you when it comes time to pitching an idea to investors, putting together a project for your company, or even requesting an increase in compensation with your supervisor. No matter what you’re vying to gain at your next negotiation, using these tactics will impress the other person and help you convince them to see your vision.

Think About What You Want

What are your goals for this negotiation? What is the best possible outcome for this conversation? If you go into the negotiation not knowing exactly what you want, you can't expect to have a great outcome. Have a clear idea of what it is you want, how to get it, and aim high during the conversation.

Be Prepared

Know what you’re going to say and be able to articulate it accurately. If at all possible, brainstorm possible objections the other party may have in the negotiation process. Thinking about how the person will respond can allow you to have a chance to rethink your negotiation tactics beforehand and be ready for possible objections. Being prepared also shows that you truly care about what you’re speaking about and shows that you value the time of the other person.

Ask for Clarification

After you’ve explained your plans, strategy, or reasoning for requesting a pay increase, allow the other person a chance to object or agree. If they have any objections, don’t go on the defensive or get emotional, instead of asking for clarification. Listen to their reason for disagreeing with your ideas and try to adapt your request accordingly. If you need more time to re-strategize, ask if it would be alright if this meeting was moved to a reasonable date.

Know What They Want

Much like an interview, it’s not what the company can do for you, it’s what you can do for the company. Explain how your plan or strategy would be best for them and how they would benefit from it. If you’re trying to negotiate for higher pay, be able to sell yourself and describe accurately how you’ve been an asset to the company. Additionally, be able to find common ground between the two of you.

Comments

History of the Stock Market

With some exceptions in the world, a country’s economic success relates to the health of the country’s stock market. Despite the existence of various types of “bubbles” throughout history, stock market correlates with the expectations about the performance of companies in the real world. As companies cannot always do well, the same happens with the stock market throughout its entire history. Since the early days of the stock market, “booms” and “crashes” succeed each other around the world. The effects of a stock market’s sudden and massive drop in value, can have a chain reaction and cause disruption in almost every industry within an economy. On the other hand, an up trending stock market is directly related to the positive sentiment in the economy and the increased confidence levels of businesses and investors. While this system has certainly been around for many years, it is a fairly new economic structure, having only been invented and systematized a few hundred years ago.

How to Delegate Work to Your Employees

When it comes to being an entrepreneur, it never seems like there are enough hours in the day to get everything done. It’s no surprise that early on in your career, being an entrepreneur is synonymous with working long hours and weekends and doing the bulk of the work on your own. While having a strong work ethic is important, so is the ability to delegate appropriate tasks to your employees so that you can focus on the tasks that are important in growing your business. Early on in your career, your day is likely to be full of small tasks that are easy to complete, but as your business grows, these tasks begin to multiply and in order to stay on top of them you will either need to delegate the tasks or be forced to work constantly, never completing everything. In order for your business grow even more, tasks will need to be delegated to your employees. If you struggle with delegating tasks because you have a tendency to be a perfectionist, follow these tips to free up your mi

Energy Efficiency Initiatives in the Shipping Industry

There’s no denying the importance of the shipping industry. According to the International Chamber of Shipping (ICS ), the shipping industry carries food and different goods all over the globe and contributes to around 90% of the world’s trade. Without shipping, people wouldn’t be able to get what they need to survive at an affordable price, and technology and business would come to a screeching halt. There are over 50,000 cargo ships in the world, transporting a vast array of goods from point A to point B. With all of these ships moving to and fro across the oceans, the time has come to put effective energy efficiency initiatives into action. The International Maritime Organization is committed to the safety, security, and carbon emissions of the shipping industry. During the IMO’s Marine Environmental Protection Committee’s, it was decided that a strategy to reduce carbon emissions would be put into action in 2018. Across the entire shipping industry, energy efficiency tact

Alexander Christodoulakis

Search This Blog