In our last blog we talked about why women undervalue themselves in the marketplace. And we promised to give you some tools to fix that.
So here are Dr Patty Ann Tublin’s 7 tools to help you negotiate your worth from her book Money Can Buy you Happiness.
- Know your worth in very specific terms.
Do the research. Know what the salary bands are for your role, or what similar businesses charge for their services. Taking the time to do some due diligence and have certainty about the marketplace will give you more confidence when it comes to the conversation about your value.
- Rewrite your job description (or service offering) with a ‘value add’ line.
Don’t assume that a client (or your boss) knows exactly what you do. Make sure you tell them. Include not only every part of your role but also any additional training you have done and any special skills that you have acquired along the way. If you’re self-employed, make sure you itemize everything the client will get for your fee.
- Engage in a conversation, not confrontation.
Have a positive mindset when you enter the meeting. Don’t anticipate or try and predict the conversation. Be open and come from the viewpoint that both parties want to come to an agreement in a positive, not acrimonious way.
- Carefully choose your words.
This is not the time to let your mouth run away with you. Slow down, think before you speak. Remember that words are powerful, so choose them carefully. Also, less is more. Don’t feel the need to fill the silence. State your points, then wait for a response.
- Master the art of non-verbal conversation.
Your body language is important. You want to be seen to be confident, not a shrinking violet. You may be feeling nervous on the inside, but don’t let it show on the outside. First impressions count! Think big, upright, and open.
- Money is a commodity. It doesn’t have feelings!
We tend to attribute feelings and emotions to money. When negotiating, leave the emotions at the door. Money is just a tool to help you get the other things you want in life.
- Meet with the right person.
Make sure you’re negotiating with the person who can make the decision and give you a yes. Talking to anyone else is usually a futile exercise.
Have a look at Dr Patty Ann Tublin’s Youtube clip on the subject.
So, in a nutshell, focus on your own mindset. Yes, you are up against stereotyping and social norms. But don’t let your fear or concerns hold you back from valuing yourself in the marketplace and charging and earning what you are worth.
Stand tall, take several deep breaths, affirm to yourself you are worth every penny, and go forth and negotiate that raise!
If you want more help with understanding how to value yourself in the marketplace, drop us an email.