Bishal Mukherjee

 CONTENTS Introduction1 How to negotiate like a pro ...............................................................................................................1.1 Stages of negotiation2.1 The Dos and Don’ts 2.2 Estimating the value2.3 Other hacks3 Summary...................................................................................................................................................4 Abbreviations4 WORK FROM HOME – NEGOTIATE YOUR FIRST PROJECT LIKE A BOSS. Work from home (WFH) jobs are more than just a dominant and growing trend. It is a concept where the employee can do his/her job from the comfort of their home. The concept of work from home has gained popularity over time because of the freedom and flexibility that comes with it. I would say there has been multiple instances wherein a woman has looked at someone else’s work-life choice and questioned her own decisions. As I was growing up, I thought I has a pretty good idea what being a woman was. All the ladies around me or at the least the ones I looked up to had many things in common – successful careers, married, mothers. Each tried their best to maintain the work-life balance but were gradually losing control over either. Working women in their daily run do not take the concept of work-life balance seriously. Trust me ladies, stress will increase to the level of burnout which will lead to lesser productivity but would increase the possibility of stress related diseases. Imbalance in your work-life seesaw will also lead in poor personal and professional relations making you a grumpy loner down the time. And, no one likes a grumpy cat! The concept of WFH is actually a great opportunity for ladies who wish to excel in their career while simultaneously maintaining their family and responsibilities that are a part and parcel of her daily life. But ladies, how do you like the idea of working in your pajamas, avoiding the daily hassle of commute, answering emails sitting on a bean bag, playing with your toddler while sipping a hot cup of cocoa? Sounds appealing, right? To nail the perfect job, you need to understand your USP and measure your skillset. Analyze your skills, maybe list out your traits and weakness, and take a step back to reflect before you make the leap. Once you’re done, you would have a much clearer picture to choose from. Let’s say that you’re a multitalented individual, chances are that you will have many options. You could be writing contents for a couple of hours and then hop on to provide online tuition to students on a certain subject. The five essential skills that you should work on alongside online courses to have a successful and rewarding work from home experience are: A) Marketing skills B) Communication skills C) Leadership skills D) Technical skills E) Professional skills How to negotiate like a pro. Say, you finally found out your dream job from a wide range of options and now need to speak with the client to decide the remuneration. There are a few pre-requisites before you proceed with negotiation. Please remember that negotiating is a desirable asset for candidates. For you to negotiate like a pro, you will need to work simultaneously on your communication and interpersonal skills. These two, when used together would turn the winds in your favor. The 4 stages of Negotiation Negotiation can be broken down in four stages viz. Preparation, Exchanging information, Bargaining, and Closing and commitment – in that order. Preparation When I say “preparation”, I intend to clarify that you need to open up your laptop/notebook and begin by choosing your pricing strategy: How would you want your employer to pay you – by the hour or by the project? That should totally be based on your work style and the project type. For an example, if the project seems one time and would need extra hours, one should go by hours. If the same employer has multiple projects or a single project that can turn into multiple other projects, you should go for payment per project. (Note: Ensure that the parameters of the project is clear). Once you’re done deciding try determining your base expected rate: Base rate or minimum rate is the amount you’ll charge your employer. To determine your base rate, try taking a few online tests wherein you can understand your USP (Unique Selling Point), research the market trend, understand the type of the project and then set a value which is neither heavy on the employer’s pocket nor featherweight in yours. The next major point is estimating value of the work: This would need a tad bit of research on your part. You will have to research about your employer/client to understand his/her expectations, work ethics and other relevant details. Simultaneously, you will need to check for similar projects and the remuneration they’re offering. Based on the facts and figures, you’re good to get an estimate value of the work that you’re going to take. Back up your estimate with the relevant facts and figures that you just gathered. Exchanging information Once you’re sorted on the aforementioned points, the time is for exchanging information. Please take a note of the fact that to have a win-win negotiation, the info that you will provide to the client is well researched and communicated effectively. Do not hold back on asking questions. It is always better to have clarity beforehand than to have grudges after initiation of a project. Bargaining Now comes Bargaining – this is by far the most important of the four stages mentioned earlier. At this stage, the actual apportion will begin to take shape. This is where T&C’s are laid down. With all honesty, I would say that bargaining is never easy (but, you ladies have a flair for that). The parties involved at this stage might need to compromise on multiple aspects to come to a final agreement. Closing & Commitment The final stage is when the last few adjustments are made to the deal and where your car is in motion to reach the desired location. Both you and your employer will now place trust in each other for each to fulfill their role and stand up to the responsibilities. That’s closing and commitment. Negotiation – The Dos and Don’ts Negotiation = bargaining. The thumb rule of negotiation is that one shouldn’t be rigid and should listen before speaking. Before negotiating any offer, try looking the way in which you “value” money. Question yourself – are you looking for status? Is it financial security? Once you stop treating money as a measure of worth and start understanding its subjective meaning, you will obviously close most deals successfully. Negotiation encumbers many things – rapport building, assertiveness, effective verbal and visual communication. Always keep in mind that one should always leave some extra space (for unexpected possibilities) while negotiating. Understand that, face to face or a video discussion is more effective than that on email/telephone. Be steady and conscientious while being diplomatic at the same time. Listening is the most powerful negotiation skill - it assists you to understand where your interests are shared with the client, where they are in opposition, and get a satisfactory outcome. Remember that negotiation doesn’t start until someone says “No”. “No” actually signals an opportunity to resolve the overlapping and conflicting interest which either parties want to serve. Try accepting your employer’s perspective and show him things the way you see. Above all, remember that negotiation isn’t compromise but a step towards success. It is tough to emphasize how important correct negotiation skill is as it is actually a broad concept. Let us talk more about the same. A successful negotiation would require either parties to come to a mutual closure. It usually involves some give and take or compromise between the parties involved. When it comes to successfully negotiate a deal, you will need to be very clear with the agenda or topic of negotiation. In addition to this, you will also need to assess the scale of disagreement and stock your armory accordingly. Think through the below list of points if you are leaning towards a ‘win-win negotiation’: a) Goals – what do you want from the discussion? What does your client want? b) Compromising points – what are you and your client willing to give away to come to a mutual platform? c) Alternatives – in case, the discussion doesn’t work out in your favor, what other alternative do you have? Are the alternatives good or bad? Would failure to get a closure on this project spoil future opportunities? What alternatives does the client have? d) Expected Outcomes – what outcome are you expecting from this discussion? e) Consequences – what would be the consequences for you after winning or losing this negotiation? What would be the consequence for the client? f) Possible solutions – based on all the above, what possibility of compromise might be there? Other useful hacks to negotiate and be successful at it Successful negotiators have a secret weapon. They react sensibly. Never lose your temper and/or over react. It’s okay to show displeasure if the offer makes less sense. Don’t keep things to yourself but voice your opinions. The sooner and clearer you put across the fact that you’re not satisfied with the deal, chances are that it will be revised. Another pivotal thing when it comes to negotiation is patience. Don’t be a sweet summer child oblivious of the real world. It is seldom that the other person will accept your suggestions at the first attempt itself. Life isn’t a bed of roses, honey! You need to convince them and it needs patience. Never ever hurry to close a deal. Another technique I personally use is presenting multiple offers simultaneously at the negotiation table. Fair chances are that you will nail the deal and if in any case your employer rejects the deal, you can ask them which offer they liked best and why. Based on that, you still have the scope of brainstorming and may be improving your offer. From my personal experience, this strategy actually decreases the odds and promotes more creative and mutual solutions. Be assertive but not aggressive. Try understanding the employer’s behavior pattern and work on satisfying your own needs keeping consideration of others in mind. Groom your persuasion skill. Fun fact- persuasion is both an art and a science. It is omnipresent but remember even before you persuade, you need to know what people can be persuaded for. Never try being rude/sarcastic or being sassy with the client but try boosting your own image instead. Also, when at a round table, never try to be perfect. When you try to appear perfect, you actually appear to be fake and shallow. Your employer will not believe you and won’t be able to trust in your potential. If you wish to persuade your employer to a win-win state, show a genuine interest in their opinions and views. The sooner you stimulate them to talk, the easier for you to acquire a reputation. Now comes the biggest question! What if after negotiation, the final remuneration is below your expectations? What should you do? I’d suggest that you take a deep breath, think of the other options (if available), try calculating the hours you will invest and if the payment is worth it. Think from multiple perspectives and try figuring out if you accepting a lesser pay for this one project opens up your chances to grab a few other projects from the same employer or from other sources. Above all, you are the best judge for yourself. You will surely know what to do! (And, the internet is a multiverse of options, so....keep searching). Summary In addition to the above, try researching and make the first offer always. If you wait for the “other person” to make an offer first – that is the mark of an amateur. Pitch first and pitch good keeping a margin. Effective communication and collaboration are the pillars of a successful work from home employee who is keen to negotiate with an upper hand. If you have made through until here, you have already learnt everything. Quoting Freund here, “You cannot learn negotiating techniques from a book, you must actually negotiate.” Negotiation takes practice. Learn what you read and implement. Have a great work life ahead  Abbreviations WFH – work from home T&C – terms and conditions