FountainBlue’s January 27 When She Speaks, on the topic of Negotiating for a Win-Win. Please join me in thanking our gracious hosts at Twilio and our panelists!
- Facilitator Linda Holroyd, CEO, FountainBlue, CMO, SignKloud
- Panelist Angie Chang, VP Strategic Partnerships, Hackbright Academy
- Panelist Genevieve Haldeman, Vice President, Marketing Communications, Twilio
- Panelist Zaina Orbai, Sr. Director – Head of Global HR Operations, Yelp
- Panelist Katie Penn, Director of Demand Marketing, Twitch
Below are notes from the conversation.
We were fortunate to have a wide range of backgrounds and perspectives on our negotiation panel. Their combined advice is summarized below.
- Start by understanding what all parties want out of a negotiation. Understand what drives the other party so that you can collaboratively create a win-win.
- Be strategic, prepared and plan-ful about how you negotiate, and practical about how to make both parties comfortable, to increase the odds of a successful negotiation.
- This means that you must understand your own needs and that of the other party and find that intersect, driving towards common ground.
- Use LinkedIn and other online resources to Google the backgrounds of the people you’re negotiating with.
- Consider factors such as gender, ethnicity, age, language, etc., when you’re negotiating with others. It will help you better understand their background so that you can properly prepare for a negotiation.
- Go beyond doing the research prior to the negotiation. Vet your strategy and findings with others who may help you think through your strategy and plan prior to the negotiation.
- Know your triggers and manage through them so that you don’t get too emotional throughout the negotiation process.
- Surround yourself with mentors, supporters, champions, managers, and advocates, who will support you and help you learn and grow.
- Embrace the opportunity to connect with people who don’t think like you, who don’t act like you do.
- Sometimes negotiating with your loved ones is harder than negotiating with your peers and partners and customers at work. These family relationships run long and deep and can be more complicated. Focus on the long-term relationship rather than the short term wins.
- Whether you’re negotiating a big deal, or just doing business as usual, remember that networking is the greatest indicator of your success.
- Build relationships and connections before you’re in desperate need of them. Make broad and deep connections. Your network is closely tied to your Net Worth.
- Be that ethical, authentic, trusted party who will negotiate in good faith, and be true to the relationship and the agreement.
- Know your value and your worth, and be confident about lobbying to make sure that you get what you earn and deserve. Center yourself so that you feel that confidence even when you’ve had a bad day.
Below is specific advice which may help you with daily and ongoing negotiations at work and play.
- If you’re trying to get on the calendar of important people, be succinct and focus on what’s in it for them.
- Offer one of several options which you define. This way, you get to control what’s to be done, and the other party feels like it’s their choice as well.
- Be curious about people’s differing viewpoints. Inviting diversity into your circle can help everyone within your circle, provided everyone is open and respectful.
- When you have to work with someone with whom you’ve had a colorful past, try to be open-minded. Humanize the other person, and find an area of common ground as a starting point.
- Focus conversations on the issues at hand, staying away from the personal and emotional issues which may color the conversation and lead to unproductive cycles.
- If you and the other party are bogged down with a negotiation, try backing off and coming from a different angle. Whether it’s working with champions behind the scenes, finding an alternate path to agreement.
- If you’re negotiating a compensation package, consider many factors and weight them all, focusing mostly on the things that are most important to you. From there, you can overlay the various options. Factors other than salary include: Working Hours, Benefits, Bonuses, Title, Role and Tasks, Parking and Commute and Public Transit Access, Leadership Team, Project Preference, Boss and Manager, Team Leadership, Industry, Technology/Customers, Advancement Opportunity, Education and Training opportunities, Presentations to management/customers . . .
The bottom line is that negotiating is a part of life, and your perspective around how to negotiate and your preparedness for any negotiation will help ensure your success.