Episode•July 25, 2023•16 min

Negotiation 101: How to Negotiate Like a Pro | Ep. 249

Are you looking for tips on how to negotiate better? Tiffany is here to help! In this episode, she outlines 15 tips for improving your negotiation skills. She covers every step of the process, from doing research and developing confidence to handling actual negotiations. From understanding the market and setting clear objectives to confidence poses and practicing active listening, Tiffany will teach you how to ace any negotiation. Listen and learn how to get the best deal every time! Every Tuesday, Tiffany answers one of your submitted questions. To submit a question for an upcoming episode, visit here: https://www.moneytalkwitht.com/asktiffany Additional Resources How To Become A Better Negotiator So They Can't Say No I would love to help you negotiate your next raise or job! Please visit https://academy.moneytalkwitht.com/15-minute-consultation to book a consultation. This podcast uses the following third-party services for analysis: Podcorn - https://podcorn.com/privacy OP3 - https://op3.dev/privacy

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Key Takeaways

1
Do thorough research before negotiating
Research market rates using sites like Glassdoor or Salary.com for salary negotiations
Know your audience and who has decision-making power (e.g., retention department for bill negotiations)
Define clear objectives and have a Plan B or Plan C ready
2
Build confidence before entering negotiations
Use confidence poses like hands on hips or starfish stance to increase confidence
Practice box breathing (inhale 4, hold 4, exhale 4, hold 4) to calm nerves
Develop emotional intelligence to read subtle cues from the other party
3
Aim for win-win outcomes and practice active listening
Let the other party make the first offer when possible
Be comfortable with silence and avoid negotiating against yourself
Anchor high if you must make the first offer, then provide options
4
Know your limits but don't reveal them
Have a minimum acceptable outcome in mind before negotiating
Always offer alternatives if your first choice isn't accepted
Treat everyone with respect as relationships matter long-term

Intro

Tiffany answers a listener question about how to negotiate effectively, covering salary raises, job offers, business deals, and bill negotiations.
Tiffany is a financial coach and host of the Money Talk with TIFF podcast who helps people negotiate better compensation and business deals.

Ask Tiffany 15-Minute Consultation

– Introduction & Overview

Tiffany introduces the episode topic: how to negotiate better, covering salary, job offers, business deals, and bills. She outlines 15 tips broken into three categories: research, confidence building, and negotiation tactics.

– Research Phase (Tips 1-5)

Educate yourself on market rates using Glassdoor, Salary.com, or industry research. Know your audience and who has authority to make decisions. Define clear objectives and have Plan B and Plan C ready. Know your limits but don't communicate them.

If you don't [know what you want], you'll end up A, not getting where you really want to go or B, getting the bare minimum.

– Building Confidence (Tips 6-10)

Get out of your head and stop self-limiting beliefs. Use confidence poses (hands on hips, wide stance, starfish pose) to physically boost confidence. Practice intentional breathing like box breathing to calm nerves. Develop emotional intelligence to read subtle cues. Practice active listening without formulating responses in your head.

The first person to talk loses, period.

– At the Negotiation Table (Tips 11-15)

Aim for win-win outcomes to preserve relationships. Let the other party offer first when possible. Be comfortable with silence and avoid negotiating against yourself. Anchor high if you must make the first offer. Always have options ready as alternatives.

Negotiation is a give and take dance between two parties. It's not one person wins and one person loses, it's more like we both win.

– Closing & Resources

Tiffany directs listeners to her full article with additional resources and encourages submitting questions for future episodes.

Resources

Topics

negotiationsalary negotiationcareer adviceconfidence buildingemotional intelligenceactive listeningwin-win negotiationresearch strategiesbusiness skillspersonal finance