6 issues for $14.97 Subscribe Now
Subscribe via RSS Feed

Negotiating Tips From A Millionaire

[ 0 ] Jun. 5, 2014 | SBO Editor

negotiating

Six negotiating tips that helped this CEO become a millionaire.

-Entrepreneur, Author and CEO of Sqeeqee.com Jenny Q. Ta Offers Negotiating Tips That Helped Her Become a Millionaire-

If you think negotiating is about winning or losing, you have already lost and should read this article.

Negotiating is about striking the best possible deal between parties without short-changing any party involved in the transaction.  However, many negotiators disregard the goals of the process and allow their emotions to take hold of them.  This could crash a productive or profitable deal.

 Negotiating Your Way To Millions

To avoid simple mishaps, Jenny Q. Ta, entrepreneur, author and CEO of Sqeeqee.com, the first-of-its-kind social networthing™ site, offers 6 strategies to follow that will help you become a better negotiator and win at negotiating.

1)    PLAN AHEAD:

Make a list of meeting goals and items that should be discussed, as well as a list of possible negotiating outcomes.  Try to build a case for achieving the best results. Make a Plan B in case the conversation does not go your way.  Ferret out your opposite number’s weaknesses and try and capitalize on them as you go about making your plan. Planning for a negotiation is like planning to argue a case in the courts – the only difference is that negotiations are friendlier. Once your plan is ready, you should have the following in hand:

How your proposal benefits all the parties involved

  • A list of possible outcomes
  • The course that you would like to steer the conversation on
  • This negotiating exercise will help you prepare for the negotiation and ensure that the discussion is results-oriented.

2)    YOUR EGO IS NOT YOUR AMIGO:

The ego makes you do or say things in a way that pleases you and makes you feel powerful. It incites you to tower above everyone else. It makes you a selfish beast and if you allow your ego to rule you at the negotiating table, you may end up killing the deal and alienating people. Leave your ego at home or elsewhere and be neutral while negotiating and you will see the difference. Remember, negotiating is not about “I,” it’s about “We.”

3)    DISCUSS CONCERNS:

Don’t be afraid to voice your concerns, but voice them in an affable or jovial manner. Don’t get aggressive or raise your voice while discussing your problems and try and engineer a solution with feedback from the others.

4)    BE MINDFUL OF BODY LANGUAGE:

Positive body language helps. Use your eyes and expressions to your best advantage.  Sit upright with elbows on the table, don’t lean back, don’t grimace, don’t shake your head or fold your arms across your chest, make direct eye contact, pay attention, smile and nod when required, etc. Body language says a lot about you and your attitude, and you must draw attention of others with positive body language and expressions.

5)    NO RESULT? DON’T PANIC:

If the negotiators do not reach an understanding, do not panic or appear anxious. It may be possible that the other party needs some more time to chew over your proposal. Leave the door open for future meetings and sound sincere about it.

6)    ANALYZE AND CORRECT:

Analyze what went wrong and what worked during the meeting. Build up on your strengths and correct your weaknesses and get ready for the next meeting.

These negotiating tips should help you get the basics right. How you take it from here is entirely up to you. Good luck.

About Jenny Q. Ta

Jenny Q. Ta is the founder and CEO of Sqeeqee, the first-of-its-kind social networthing™ site.  Launched in 2014, the site gives individuals, businesses, celebrities, politicians, and non-profit organizations the ability to monetize their profiles in unprecedented ways.

Ms. Ta is a seasoned entrepreneur with two successful ventures to her credit.  She was the Founder and CEO of Titan Securities, a full service investment firm that was acquired in 2005.  Prior to founding Titan Securities she was the driving force behind Vantage Investments, a full-service broker-dealer start-up she founded in 1999 at the age of 27 and grew to a quarter of a billion dollars in assets.

Overall, she has more than 20 years of experience as a senior executive in sales, marketing and finance.

Jenny is an author whose book, Wall Street Cinderella, will launch in 2014 detailing her escape from Vietnam during the war and her path to success from welfare to Wall Street.   As a self-made millionaire by the time she was 27, the book will serve as a roadmap for women looking at a business career.

She earned a Master of Business Administration degree in Financial Management and a Bachelor of Science degree in Management Information Systems from California State University, Fresno.

Tags: , , , , ,

Category: Features