The Contractor Fight’s Post

Stop Negotiating Against Yourself It's 11pm and you've finally sat down to work up your proposals for the clients you met today. You start crunching your numbers that you're confident in and then it happens. "Damn. That's a lot of money for this job." You start telling yourself A story that sounds like this... "They'll never go for this. I need to figure out how to get this a little lower." The negotiation has begun! You start sharpening your pencil when nobody has asked you to do so. You squirm and tell yourself story after story and make revision after revision until you finally send the proposal that's way lower than it should be. It's far less than it should be for the value and the experience you provide. Instead, start telling yourself THE story. The real story. "I don't know what their financial situation is and it's not my job to find their money." This is the truth. You don't know what "a lot" of money is to someone else. Stop feeding yourself bullshit. Figure up your job costs. Add your profit margin. Hit send. 

Recently, a client wanted to subscribe to my 1-on-1 physical session with me, but she had issues with my price. I know my price is fair, but we kept going back and forth; she later agreed to my price. Then I realised something deep: 𝐢𝐧 𝐥𝐢𝐟𝐞, 𝐲𝐨𝐮 𝐝𝐨𝐧'𝐭 𝐚𝐥𝐰𝐚𝐲𝐬 𝐠𝐞𝐭 𝐰𝐡𝐚𝐭 𝐲𝐨𝐮 𝐝𝐞𝐬𝐞𝐫𝐯𝐞; 𝐲𝐨𝐮 𝐠𝐞𝐭 𝐰𝐡𝐚𝐭 𝐲𝐨𝐮 𝐧𝐞𝐠𝐨𝐭𝐢𝐚𝐭𝐞.   The same principle applies to your journey to wealth. To become wealthy, you must understand the power of negotiation, master it, and make it your best friend.   Whether it's securing a higher salary, making a great business deal, or even investing in any asset, your ability to negotiate is what makes you stand out.   So, how can you master the art of negotiation? ✅ Start by improving your communication skills. ✅ Know the value you bring to the table. ✅ Be willing to walk away when it's necessary.   Don't forget that every negotiation is a chance to make more money and create value.   As you go on your financial journey, keep this in mind: 𝐬𝐮𝐜𝐜𝐞𝐬𝐬 𝐢𝐬𝐧'𝐭 𝐣𝐮𝐬𝐭 𝐚𝐛𝐨𝐮𝐭 𝐰𝐡𝐚𝐭 𝐲𝐨𝐮 𝐞𝐚𝐫𝐧, 𝐛𝐮𝐭 𝐰𝐡𝐚𝐭 𝐲𝐨𝐮 𝐧𝐞𝐠𝐨𝐭𝐢𝐚𝐭𝐞.   So, build up your confidence and get better at negotiating, and you'll see doors of opportunity open for you.   🔁 Repost if you find this useful.   #financialtips #negotiationtips #thoughtleader

🪇 Do you ever struggle to strike a deal? 💬 How do I land my target with negotiation strategies? 'Shake It' with These Business Deal Phrases Knowing how to negotiate is a crucial aspect of business. So, here's some language that might help you while discussing contracts. When people negotiate, they are looking for a contract on which both parties can agree, as well as the contract's "terms" or rules. A "party" refers to any individual or organization who will sign the contract following the negotiation. If the transaction involves purchasing or selling, expect some "haggling," which involves arguments about the price. If you're buying, you should "talk down" the price, or persuade the seller to lower it. You don't want the seller to "jack up the price," which is when they raise it well above what it should be. You should also read the "fine print," which contains contact information and is generally written in a smaller font. We frequently use this phrase in various contexts to discuss details that could cause problems if we don't understand them. When the negotiations are successful, you might claim to have "struck a deal." And when all parties are satisfied with a contract, it is common to "shake on it," which simply means to shake hands to signify your agreement. After that, everyone will "sign on the dotted line," because where you sign on a contract is commonly marked with a line of dots.

In every aspect of life, from finances to relationships, mastering the art of negotiation is key to success. Don't let missed opportunities and lost value hold you back. Equip yourself with the skills to confidently navigate discussions and secure favorable outcomes. 📌 When you know how to negotiate, you can secure better deals on major purchases like cars and property, lowering the lifetime cost of ownership. 📌 Strong negotiation skills help you bargain for higher salaries and benefit packages at your job. This increases your income and allows you save and invest more money over time. 📌 Negotiating lower interest rates on loans saves you money on interest payments 📌 Mastering the art of negotiation gives you leverage to spend and borrow less while earning more. With extra money being saved from negotiating you have more cash to invest and build long term wealth through the power of compound interest 📌 Sharpening your negotiation skills can have tremendous financial benefit over your lifetime. Remember, negotiation is not just about money; it is about creating mutually beneficial agreements that propel you towards your goals. So, what are you waiting for? Start honing your negotiating skills today and watch your finances and life improve! 💰💡 #FinancialWellness #Negotiation #WealthBuilding #GrowthMindset #KeysToSuccess #LifeSkills

What are the major pitfalls when it comes to negotiating a deal? Jim Shaw, CEO & Founder of Shaw & Co: "A big part of our job as financial advisers is being the barrier that absorbs that emotion and keeps a deal on track. For an owner-manager in particular, deal negotiations can quickly feel personal. Removing yourself from this is one of many significant benefits of appointing a professional advisor to negotiate your deal." To read more visit: https://lnkd.in/dvaCtKhu Do you have a story to tell of a difficult negotiation ? Tell us what you think in the comments below... If you'd like to find out how we can help buy, sell or fund the growth of a business, please book an informal chat via our website. Or phone us on 0330 127 0100 or email hello@shawcorporatefinance.com #sellabusiness #buyabusiness #businessfunding

What are the major pitfalls when it comes to negotiating a deal? Jim Shaw, CEO & Founder of Shaw & Co: "A big part of our job as financial advisers is being the barrier that absorbs that emotion and keeps a deal on track. For an owner-manager in particular, deal negotiations can quickly feel personal. Removing yourself from this is one of many significant benefits of appointing a professional advisor to negotiate your deal." To read more visit: https://lnkd.in/dvaCtKhu Do you have a story to tell of a difficult negotiation ? Tell us what you think in the comments below... If you'd like to find out how we can help buy, sell or fund the growth of a business, please book an informal chat via our website. Or phone us on 0330 127 0100 or email hello@shawcorporatefinance.com #sellabusiness #buyabusiness #businessfunding

Top 10 to Master a Negotiation: “You don't get what you deserve, you get what you negotiate. 10 strategies to master negotiation: You don't get what you deserve, you get what you negotiate. 10 strategies to master negotiation: 1. Use the power of silence and pauses: Awkward silences create pressure. After making an offer, stop talking and let the other side respond. Silence prompts the other side to fill the void, sometimes making concessions. 2. Follow the 6 P's: Proper Prior Preparation Prevents Poor Performance. Master your facts and leverage points to negotiate effectively vs. making hurried concessions. 3. Ask for more: Ask for more than you think you can get. This gives you room to compromise while still ending up with what you want. Make a first offer that resets their sense of what's acceptable. Then, "concede" toward your actual goal. 4. Use odd numbers and precise figures: Odd numbers and unusual precision feel more carefully calculated. Proposing $49,431 seems more grounded than $50,000. 5. Ask them to justify: “Can you walk me through your methodology for arriving at that number?" Put the burden of proof on them to substantiate. 6. Make them negotiate against themselves: Say, "This offer isn't where I need it to be. How can you improve upon it?" Get them thinking of better offers. 7. Use positive framing: People respond better to a positive approach. Say what you want rather than what you don't want. 8. Watch body language: This can signal their flexibility or firmness on pricing and terms. Reading nonverbal cues can help you know when to push or back off. Notice if they rush to respond or hesitate before answering. 9. Know your walkaway point: Decide the maximum or minimum you're willing to accept before negotiating. This will help you know when to stop bidding against yourself or accepting deals that don't meet your needs. 10. Use conditional phrases: Use phrases like "if-then". Say "If you can do X, then I can do Y" to propose trade-offs and find common ground.” What else would you add?

What are the major pitfalls when it comes to negotiating a deal? Jim Shaw, CEO & Founder of Shaw & Co: "A big part of our job as financial advisers is being the barrier that absorbs that emotion and keeps a deal on track. For an owner-manager in particular, deal negotiations can quickly feel personal. Removing yourself from this is one of many significant benefits of appointing a professional advisor to negotiate your deal." To read more visit: https://lnkd.in/dvaCtKhu Do you have a story to tell of a difficult negotiation ? Tell us what you think in the comments below... If you'd like to find out how we can help buy, sell or fund the growth of a business, please book an informal chat via our website. Or phone us on 0330 127 0100 or email hello@shawcorporatefinance.com #sellabusiness #buyabusiness #businessfunding

What are the major pitfalls when it comes to negotiating a deal? Jim Shaw, CEO & Founder of Shaw & Co: "A big part of our job as financial advisers is being the barrier that absorbs that emotion and keeps a deal on track. For an owner-manager in particular, deal negotiations can quickly feel personal. Removing yourself from this is one of many significant benefits of appointing a professional advisor to negotiate your deal." To read more visit: https://lnkd.in/dvaCtKhu Do you have a story to tell of a difficult negotiation ? Tell us what you think in the comments below... If you'd like to find out how we can help buy, sell or fund the growth of a business, please book an informal chat via our website. Or phone us on 0330 127 0100 or email hello@shawcorporatefinance.com #sellabusiness #buyabusiness #businessfunding

Do you speak with intention in your negotiations? It's crucial to choose your words carefully, especially when dealing with high-stakes deals. Recently, an agent made a statement that had unintended consequences during a multi-million dollar negotiation. He boldly stated "the commission you are paying us doesn't even come close to one of our owner's car price" The impact? Anger, humiliation, and frustration for the investor – emotions you definitely want to avoid in such situations. Remember, every amount an investor pays is valuable to them. Even if an offer may seem insignificant to you, it holds importance to the other party. Putting yourself in the investor's shoes can make a world of difference in the sales process. To excel in closing deals, sellers must prioritize understanding the buyer's perspective, needs, and emotions. Sensory acuity, emotional intelligence, and precise language are key to resonating with buyers and closing deals effectively. In the realm of negotiations, the right words can make or break a deal. Let's strive for clarity, empathy, and professionalism in our interactions with investors. #NegotiationSkills #SalesStrategy