During The Negotiation: Money Chasers
Lesson 12 from: FAST CLASS: The Power of NegotiationVanessa Van Edwards
During The Negotiation: Money Chasers
Lesson 12 from: FAST CLASS: The Power of NegotiationVanessa Van Edwards
Lessons
Class Introduction
15:07 2Before The Negotiation: Assess Your Assets
08:08 3Before The Negotiation: Diagnose Their Pain
06:13 4Before The Negotiation: Do Due Diligence
05:46 5Before The Negotiation: Interest Matchmaking
03:34 6Before The Negotiation: Prep Purposefully
05:52 7Before The Negotiation: Bring Aids
08:57 8Before The Negotiation: Prime Value
04:53Before The Negotiation: Ask, Ask, Ask
06:38 10Before The Negotiation: Leverage Agreement
05:29 11During The Negotiation: Money Talk
11:45 12During The Negotiation: Money Chasers
07:29 13After The Negotiation
03:05 14Bonus Lesson: Email Negotiation
03:26 15Bonus Lesson: How To De-escalate
04:03 16Bonus Lesson: Dealing with Deadlock
05:12Lesson Info
During The Negotiation: Money Chasers
last step here. Can you just given a number? What do you chase it with? You know, when you were in college, you had to do a shot of alcohol and you had a chaser. Anyone have that experience? So I like to think about this is a money chaser, right? Someone, someone has gotten a really strong head of alcohol. What sweet goodness do you chase it with after that? So after I say a number or after a number is given, I will almost immediately chase it. This is a big mistake. Most of you will, like, say their number, and then just leave it like right? Like what's gonna happen now? Like what's gonna happen in the room? So I always have a money chaser ready to go, right? Right. Ready to go right afterward. That also can help you have confidence because you know, you just the number. You have more coming after it. Here's what you always chase your offer with. Ah, yes, of course. I love this money. Quote. Explain the value and justify the cost. People don't mind paying. They just don't like to ove...
r pay. They don't mind paying right. People know they're paying for good work. So the chaser is about making sure that you are justifying that cost. One the best money chaser is incredible proof. We've already talked about proof. I like to be ready with, like an arsenal. That's why I gave you swords. I am ready for that justification that proof right after I save money. The other aspect of spending money is there has to be a way of having safety the way that I like to do this. I like to prevent gotcha moments, No gotcha moments these air, those moments and negotiations and meetings where someone has this thing that they think is a weakness and then they, like, bring it up there like gotcha. You know, I like to prevent gotcha moments. So sometimes to create psychological safety, I will bring up the issues or pain. Points are problems that I know are there that I know they're probably gonna bring up or they're thinking this is a way to create psychological safety, cause you're saying, Look, you can trust me. I'm putting this all on the table. Here's some problems we might run into so answering questions before they ask if you're wondering about liability. We have this covered or we don't have this covered. But we've only had this incident in 0.2% of cases, right? So offering that immediately preventing hesitations. I know timing is a concern for you. Here's our plan to tackle that All this Scotch money moments, swipe fly files examples are in your workbook up, so I'm not going very much on them that we're running low on time. You also want to create psychological safety, so making your partner feel safe talking about money with you. If you see that shame moment, you know that money could be hard for them to talk about. Morris Altman. People have a strong preference for certainty and are willing to sacrifice income to achieve more certainty. So any certainty that you can provide as a money chaser is one of the best ways for people to feel safety around that number. I also want you to think how you can create more certainty, so maybe this is a money taste, or maybe it's not. But if you're getting that catch, that back and forth, having those certainty elements at hand on hand is really important. I know that we all feel like we're being aggressive or assertive, asking for what you want, but you are not being as aggressive as you think. In fact, during negotiations, most people believe they come across as being too aggressive. In fact, their counterparts saw them is being appropriately assertive, and 57% were actually seen as under assertive. So we often not only think we're being too aggressive, but actually it's quite appropriate. But we might even being under or undervaluing ourselves, which is a huge mistake that we make. People expect you to ask for what you want. When you don't. It's worse than neutral. That's the biggest thing here is asking for you want is good business that is part of delivering high quality work. Lastly, I mentioned money chasing that does not mean money. Apologizing a chaser is not an apology, so it's not backtracking. It's not. I hate to ask this or I'm sorry to bother you. I know this is a lot. No, it is not apologizing. A chaser is offering proof for your quality. It's creating safeties. I just want to make a point there that it's not about apologizing. Any money chaser is not an apology. It is a safety net for them. Last one, The last thing you want to do is sometimes they're going to say yes, your number. Hey, great. You might also be playing catch, and that's a good thing, the kind of back and forth. So there's this idea of they say you say They say You say you get to this part of negotiation. Do not dread it Actually learned a lot about someone during this phase you can offer get a lot of value in this phase. They say it's too much money. Does it include what if you say all of the research that you have already, Fracked. That is what this is for. This sheet is for your time of playing catch. So every time they say this, you're going back to your alternatives. You're going back to your guarantees. You're going back to your assets. You're going back to your creative problem solving. So it's waiting for you there, Just in case that part happens. Playing pet catch means they care. It's a lot of times people say to me, I know, but like did he pushed back on my number. I'm like, Good. He's thinking about his budget. He really wants to work with you. Wants to make sure that he's getting all the value he wants. Playing catch is a good thing. It's not a bad thing. Use your cheat, cheat for all of this on pain points, assets and commonalities. Also, if you're getting in that phase, we're like, Oh, I don't know where we are. Go back to the s ladder and they're in your workbook. I have scripts for you. They say, you say they say, You say you could actually open the workbook during your next negotiation and actually read off because they say I can't afford this right now. You say I actually have the bases and you say that commonly come up that I've used. Don't forget to let him throw it back. Don't negotiate with yourself. Okay? Right. You Sarah shared a number. You've chased it. Let them throw it back to you, right. Let them tell you what works for them. What doesn't? Don't undercut yourself before they say anything. Helping them be right. So one thing in this we talk about winning is making sure that you're not making them wrong, which is why we're talking about agreement. So if they get something wrong, they misunderstood something about your assets or your pain points. You can say, Oh my goodness, I've misunderstood this. Helping them The right can also be a win. It's one of the 20 categories of winds. Don't forget to address emotions. Sometimes if they're shame or fear there, that could be another hang up for you. Hopefully you're here, You're goal is accepted or your baton is accepted. Yea, what happens if not that waiting process? So if you don't win, it's on a loss. It's a weight. Maybe you both need to go do more research. If you get a Noora. Wait here. A couple of things you can think about. We're gonna talk about this in our bonus sections. You might want to go back and redo your negotiation Cheat sheet full, open a new medium maybe didn't work on the phone. Maybe it's going to better on email if he didn't work on any late is better on the phone. Sometimes changing up the medium can really help shake it up, bringing a new person bring in an expert bringing a strength person bringing a supporter. They can also change the factors in the room, find more badness, make a bigger pie. There's more value to offer more flexibility and then also use our deadlock strategies.
Class Materials
Bonus Materials with Purchase