The 3 Numbers You Need to Be a Master Negotiator

 

Talking about money doesn’t have to make you want to run in the other direction. I promise!

If you’ve attended one of my negotiation workshops, you know I’m all about these 3 numbers – target, bolstering range, and walk away.

Your target is the number you want to walk away with (so you don’t ask for this). Instead, you use a bolstering range with the target number at the bottom. For example, you want $65K, so you’d say “I’m looking for something in the $65 – $70k range.” The lower number creates an anchoring effect and research has shown this will increase your chances of a higher offer exponentially.

The third number you need to know is your walk away number (aka resistance point). This is the one we often forget. You’re going to get excited about the job offer (after all, you’ve made it this far!) and if it’s lower than you expected (and you can’t negotiate for any more money), you’ll begin to make all kinds of excuses.

Here’s a HuffPo article where I talk about when taking a paycut can actually be worth it

Ultimately your resistance point is generated by what your budget allows for, your interest/passion for the gig, and who and what it will connect you to for future opportunities.

And remember, when you say “no” to something because it’s at or below your resistance point, you’ll actually be saying “yes” to something else that comes along.

This applies to entrepreneurs setting their rates as well. You need these numbers when you create your proposals!

To make the 3 numbers super easy to remember, I made the infographic below.

If you get stuck, get in touch!