Progressive Negotiation Tips for Women in 2022 from Dr. Markey W. Pierré

Effective negotiating skills can make the difference between success and failure in today’s turbulent times. In this context, Dr. Markey W. Pierré, Vice Chancellor of External Affairs and Chief of Staff at LSU Health Sciences Center has outlined her negotiation tips for women to master the art of negotiating in 2022. For more than 20 years, Markey W. Pierré has been a successful business owner, executive, author, motivational speaker, and adjunct professor. She has contributed to a number of groundbreaking incentives that have impacted future generations in a positive way. With a lifelong dedication to professionalism, community involvement, and public policy, she has helped Louisiana in K-12 and higher education, construction, health care, maritime law, and city government.

In her opinion, women should act as advocates and bargainers at critical points in their careers: when they are looking for jobs and negotiating their compensation packages; when they are seeking advancement opportunities, visible assignments, and promotions; and when they are leaving the company, negotiating the terms of their departure. Here are some of the top tips from her. You can read about them in detail by getting your copy of The Beautiful Deal, The Woman’s Negotiating Guide today from her website; www.markeywpierre.com.

Get Over Your Fears

To all the women, especially those who are in their 20s and 30s, Dr. Markey advises not to be afraid to ask for what you want. Effective negotiators are assertive and challenge everything – they understand that everything is negotiable. She calls this negotiating consciousness. A woman who is assertive strives for what she wants and believes in herself. She discusses this in her book, The Beautiful Deal, The Woman’s Negotiating Guide. Learn how to express your feelings without becoming anxious or angry. Be straightforward about your wants and needs. Use your own words to express yourself. Try substituting, “I don’t like it when you do that,” instead of saying, “You shouldn’t do that.” However, Dr. Markey is cautious about the difference between assertiveness and being aggressive. Your assertiveness is demonstrated when you protect your own interests while maintaining respect for others. A person who disregards other people’s interests in pursuit of their own interests is aggressive. You just need to be aware of this fine line.

Try the Foot-in-the-Door Method

An initial, small request is used to increase the likelihood that someone will consent to a larger, more complex request later on. Use this approach when you want to achieve similar results. You might negotiate with a vendor to reduce the price of a shirt that is $10 to $5, for instance. If you want to buy two shirts for $10, you could follow up by asking if you can buy them together. Due to the fact that the first discount wasn’t contradictory, the second discount will likely be allowed as well. By negotiating two shirts for the price of one, you have successfully saved money.

Think for Yourself

As Dr. Markey writes in The Beautiful Deal, The Woman’s Negotiating Guide, it is important not to take things at face value. Instead, consider your options. As opposed to believing everything you are told, you should be able to make up your own mind. In practice, this means you have the right to ask questions about the new car’s asking price. It also means that you have an obligation to question whatever you read in the newspaper or hear on CNN. If you are unwilling to challenge the validity of the opposing position, you cannot negotiate.

As per Dr. Markey, it is quite amazing that most people bring forward their talkative nature to negotiations and dialogues. When it comes to negotiating, detective work is essential. Asking probing questions and waiting for answers is essential. All you have to do is listen to the other negotiator to find out what he or she wants. Learning how to listen can enable us to resolve many conflicts easily. However, listening is an art that has been lost over time. Oftentimes, we are so busy ensuring that people hear what we have to say that we forget to listen. When you let the other person talk the most, you become an effective listener. Remember the 70/30 Rule – listening 70 percent of the time, and talking only 30 percent of the time. Whenever possible, ask lots of open-ended questions to the other negotiator – questions you cannot answer with a simple “yes” or “no.”

Do Some Homework

It is always helpful to do your research before entering any kind of negotiation. If you’re seeking a raise or salary, research the average market value of your position in your region. Provide the number you want as evidence of the salary you are seeking in your negotiation. The same principle applies to purchasing a home or a car. You can use this information to bargain with a seller if you are aware of the going rates for similar homes and cars in your area.

Make sure you have done your homework. Good detectives and negotiators do this. Collect all the information you can before negotiating. Who are your opponents? How are they feeling? What are their options? It’s crucial to do your research before you negotiate. In Dr. Markey’s The Beautiful Deal, The Woman’s Negotiating Guide, it is mentioned several times that making accurate decisions means understanding the other side’s situation. It is more powerful for you to know as much as you can about the people with whom you are negotiating. People who leave a lot of money on the table usually do not fully research their opponents.

Know When to Let Go

Keep your options open. Don’t go into negotiations without options. You lose your ability to say NO if you are too dependent on a positive outcome in a negotiation. If you tell yourself, “I’ll walk away if I cannot negotiate a satisfactory deal,” the other side can tell that you’re serious. They’ll have to compromise if you’re serious.

There’s No Rush

Take your time. Americans generally have a hard time being patient. We want it done as soon as possible. People from Asia, South America, and the Middle East view time differently than those of us from North America and Europe. Rushing means you are more likely to make mistakes and leave money on the table. Flexible time management is a beneficial trait. If you are patient, they will think you are not under pressure to seal the deal. How will they respond? To encourage you to say YES, they will try to offer concessions.

Use the Competition to Your Advantage

If you want to get the best deal, consider that competition is an excellent catalyst. Compare prices across competitors when considering a purchase to find what’s reasonable for your budget. It’s not always about the price that determines what’s a good deal; you may find that a preferred store or service is more expensive. If your vendor knows about competing products or services, ask if they are willing to match the competitor’s price.

Expect the Best, Prepare for the Worst

Strive for the best outcome. Negotiators who are successful are optimists, says Dr. Markey. Expecting more will lead to more success. Opening with an extreme position has been proven to help improve results. The seller should ask for more than the buyer is willing to pay, and the buyer should offer less than the seller expects to receive. Aim high, and you will succeed. However, remember to have a rational stance during all this. Your demands should not be absurd in any way. The optimism in your heart will become a self-fulfilling prophecy. Alternatively, if you have low expectations, you are probably going to get lesser results.

Understand Your Opponent

Be aware of the pressure on your opponent, as well as on your own. We tend to focus on our own pressures, on why we need to make a deal. The grass is always greener on the other side of the fence, as the old saying goes. By falling into this trap, you will hurt yourself. You will appear weak in comparison to the other side. Focusing on your own shortcomings prevents you from seeing the big picture. Successful negotiators ask the question, “What is the pressure on the other side in this negotiation?” If you are able to identify the reasons for the other side to give in, you will feel more powerful. Part of your negotiating power stems from the pressure you put on the other party. Although they may appear nonchalant, they are undoubtedly worried and concerned. Your job is to be a detective and discover the truth. If you find out they are under pressure, which they undoubtedly are, try to use that fact to improve your results.

Aim for a Win-Win Situation

In her latest book, Dr. Markey mentions the importance of finding a win-win situation for both parties. Let’s say you’re on vacation and you’re looking for something you can afford. It may be that you decide that you want to participate in an activity that typically costs $100 for two hours. Now, if you have a budget of $50 for that activity, you might ask if you can pay $50 for half the usual time. The idea is to give you what you want, stay within your budget, and still compensate the other party at their regular rate.

Tell the other person how you will take care of their needs. Negotiators who are successful always view the situation from the other side’s perspective. If you can determine their perception of the deal, you are far ahead of the game. Negotiations should be based on understanding the other negotiator and showing them ways to feel satisfied instead of trying to win. She strongly believes that one hand washes the other when it comes to negotiation. Helping the other party feel satisfied will make them more inclined to help you meet your needs. But maybe you don’t have to give in to everything they want. In other words, satisfaction means that their fundamental interests were met, not that their demands were met. The basic interest they have is not the same thing as their position or demand: Their position/demand is what they claim they want, but their basic interest is what they really need.

The “Take It or Leave It” Technique

 A hard bargaining tactic such as this should be used when an offer isn’t renegotiable. Using this method is useful when you have a service or good that others need. In the event that you’re selling your car and a potential buyer counters your asking price, you may respond with, “That’s the price. Take it or leave it.”. Buyers who need the car will take it at your price, and they will walk away if they cannot meet your price. It should be noted that this tactic is designed to be an ultimatum, so either outcome could occur.

Don’t Make Unilateral Concessions

Make sure you get something in return for anything you give away. Giving away unilaterally is counterproductive. Get something in return for anything you give away. Whenever possible, tie a string: “I will do this if you will do that.” Otherwise, you are inviting your counterpart to ask for more concessions. In the event you give them something without asking for something in return, they will feel entitled to your concession and refuse to be satisfied until you give up even more. Nevertheless, if they have to work for your concession, they will be more satisfied than if they were given it for free.

Never Take It Personally

You should not take the issues or actions of others personally. It is a common occurrence for negotiations to fail because one or both parties become distracted by personal issues unrelated to the deal. The key to success in negotiations is to solve the problem, which is: How can we conclude an agreement that addresses both parties’ needs? Neglecting the personality of the other negotiator or focusing on matters that are not directly relevant to the negotiation can sabotage a deal. Try to understand the reasons for someone’s rude behavior and don’t take it personally when they act that way. You can learn more about it in Dr. Markey’s new book The Beautiful Deal, The Woman’s Negotiating Guide – available from her website.

Negotiation is an important skill for advocating for yourself in the world of work and finance. If you are contemplating negotiating your salary or even your cable bill, you may feel anxious and apprehensive. For you to be able to speak up for your financial interests, you must overcome these negative feelings. Notch up your skills and confidence by getting your copy of The Beautiful Deal, The Woman’s Negotiating Guide today!

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