Dont assume its all about the money when negotiating.jpg

Don't Assume It's All About the Money When Negotiating!

Published: Nov 12 , 2019
Author: Ben Byth

A friend was working in a sales role and was pretty comfortable with his lot in life. He was hitting targets, had a nice house with a manageable mortgage and his kids were going to a good school. Most importantly he had plenty of flexibility with his time so that he could be present at home for his kids. Interestingly though, while none of this changed… the fairy tale slowly eroded around him. His goals shifted, not because of anything inherent to his own intrinsic motivations, but rather because all his boss spoke of was money.

 

His boss was driven by money. He measured the success of his salespeople by the quantum of money earned and rewarded high performers with even more money.

 

Although money was the driver for the boss… because much of the conversation and recognition was money centric, my friend then began to measure his own success by the money he earned. This was strange as he actually didn’t care for money… he already had enough for him.

 

The boss missed a trick by not taking the time to understand what was of real value to my friend. Instead he projected his own drivers and interests onto said friend, who subconsciously adopted them. What became a pursuit of money worked in the short term, but was not sustainable in the long term as it offended my friend’s true motivation which was to be present at home. 

 

As negotiators, it is incumbent on us to be more interested in the other party. What are their’ interests and inhibitions?

 

We see great examples of this all the time in government when large infrastructure projects overrun budgets. In these scenarios it is quite often about face rather than money. If it is true that face is the priority, an organisation might rather go into deadlock and have an arbitrator impose a solution than admit they made a mistake with the budget. The quantum of the variation isn’t the issue, it is the perception that the concession makes them look silly or soft. Simply reducing the quantum of the money payable wouldn’t make the problem go away, their underlying motivation could be the ability to say it wasn’t their fault.

 

I’m not saying we should lose sight of our own interests and constraints, we should be skilled and enthusiastic advocates for our positions. What I am saying however is that deals are likely to come more quickly, easily and with less cost if you take into consideration what moves others.

 

The good news is that surfacing interests and inhibitions isn’t a dark art. It can be as simple as asking! It may take some time for people to open up with you, but trust me that persevering by asking the questions multiple times in different ways is worth it.

 

 

Happy negotiating!


SHARE

2018 Ben Byth v2

About the author:

Ben Byth
Ben’s background is in commercial business to business sales. Leveraging studies in organisational psychology, Ben’s previous role was responsible for growing Profiling Online’s bespoke leadership assessment business locally and abroad across industries such as Banking and Finance, Insurance, Travel, Engineering and Professional Services.

Read more about Ben Byth

More posts by Ben Byth

Latest Blog:

Turning Up and Tuning In

When asked about the secret of success, Woody Allen offered ‘turning up’. Anyone who has preferred the comfort of warm bed to the rigours of a boot-camp knows the truth in this simple statement. In a similar vein, Jerry Seinfeld said that ‘paying attention’ was a key element; so simple and yet easily overlooked in our 24/7 networked world. The constant connectivity and the blurring of the distinctions between work and play place new demands on our time and attention. And now a new threat has emerged to our ability to turn up and pay attention...

Latest Tweet:

Scotwork Negotiation Australia
Level 17 / Suite 2, 25 Bligh Street
Sydney
2000
Australia
02 9211 3999
info.au@scotwork.com
Follow us
cpd.png
Scotwork Negotiation HR Vendor of the Year 2018.jpg
Scotwork Negotiation HR Vendor of the Year 2018 Silver.jpg