Top 6 Salary Negotiation Mistakes To Avoid

Closing in a Business deal or getting a new job offers is exciting. However, negotiating the deal might not be as exciting.

When it comes to negotiating some people are naturally gifted but on the other hand some people definitely “suck”.
The negotiation process can be terrifying therefore mistakes can be easily made, particularly if there is a lock of experience. If you want to negotiate your salary successfully then avoid the following mistakes;

LIMITED CONFIDENCE
Some persons believe that a certain level of confidence is needed in order to negotiate successfully, for example being bold, loud and brazen. Others believe a certain level of experience might be required. But based on past experience, successful negotiation just takes firmness and smart preparation to ensure you are efficiently equipped to anticipate objections and proclaim the terms desired.

The profound author of the book “Think Like a Negotiator” Lewis- Fernandez stated that “when one projects confidence it means that they have heart, this can make the opposition drop their defensive guard, thus increases the probability of success.” It’s always vital to support your confidence with sufficient researched information.  

THINKING THAT THINGS ARE NON-NEGOTIABLE
With the right attitude and determination any term or condition can negotiated. “If you have the mindset of or think like a negotiator then everything is negotiable! “It’s a mindset you have to work from in order to become a great negotiator” Eldonna Lewis Fernandez stated. She also said that, although negotiators have to adhere to numerous different rules, even rules are negotiable as long as you can propose an alternative that ethically, efficiently and mutually beneficial to both parties.  

REFUSING TO BUILDING RELATIONSHIPS FIRST
They key to a successful negotiation is building relationships. This type of relationship however, goes further than networking events where business professionals share business cards, Fernandez said. Her advice is to take the time to connect personally with people, and learn as much as possible about them. This will make negotiating even more beneficial to everyone involved.

“It’s important to find out something personal about them and not just about their business. You might be amazed how well you can use what you learn through a genuine conversation with someone,” Lewis-Fernandez added.

Video of Jack Donaghy negotiating on 30 Rock

REFUSING TO ASK FOR WHAT YOU WANT
Most people are usually scared of facing rejection, consequently they might not ask for what they need. However, if you don’t ask for what you need then you may never have the opportunity to receive it. Don’t let your fear of rejection hold you back ask for what you need. 

“Rejection is never personal in business. It’s just a reflection that you weren’t effective and convincing enough. It’s important to present a feasible argument supporting why exactly you should get what you need. Just remember it’s the offer that’s been rejected and not you therefore, your emotions should always be kept in check. Just try different approach” Fernandez sated.

Never give up, if one wants to master the art of overcoming rejection, then they first have to get rejected and keep asking for what they desire. Eventually, you will receive what you need or find a better alternative.

NO DOCUMENTATION
A successful negotiation is not only about getting the other party to agree with your terms and condition. Proper documentation is also essential, therefore everything that takes place during the process must be recording or put in writing.

Lewis- Fernandez said “Avoid future problems ensure that all terms and condition of the deal is properly recorded or put in writing”

SIGNING WITHOUT CAREFULLY READING
How often as persons made this silly mistake? “In this day and age life tends to go by at a fast-pace and people are often trying hard to multitask, sometimes this makes it difficult to focus causing my persons to sign legal documentations with carefully reading it first. Signing without reading any agreement or contract may result in future conflict and disastrous outcomes.   

To prevent future altercations, Lewis-Fernandez stated “to be on the safe side consulting with a contracts attorney to read and review all contractual documents or any document that requires a signature is the best approach.”