How to Negotiate and Ask for Money

Leading Your Best Life with Leigh Farnell

Here is a short podcast with powerful, money making tips.

If you are asking for money get your pen and paper out to make notes.

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Introduction

[0:00]

• Leigh Farnell introduces the episode: "Negotiation and Money."
• Emphasizes the importance of negotiation and financial skills for leading a great life.
• Inspired by a morning conversation about securing funding for a community project.

Key Context

[1:00]

• A friend is seeking funding from a local government for a community project.
• Importance of preparation before meetings:
  • Building relationships.
  • Understanding the council's criteria and priorities.
  • Researching public plans or statements.

Negotiation Principles

[2:30]

1. Ask for More Than You Want:

   • Don’t settle for $2,000; aim for $10,000 to leave room for negotiation.
   • Reference to "argy-bargy" (negotiation dance).

2. Stack the Benefits:

   • Provide 5 compelling reasons for your request.
   • Example: Use the "Bob Hawke approach" of having 5 clear points.

3. Give Decision-Makers Room to Feel They’ve Won:

   • Let them believe they saved money or got a good deal.

Five Tips for Effective Negotiation

[5:00]

1. Understand Their Priorities:

   • Research objectives, criteria, and past grants.
   • Use their language and highlight how your project aligns with their goals.

2. Prepare a Compelling Value Proposition:

   • Clearly articulate the benefits and impact of your proposal.
   • Link benefits to their goals (e.g., job creation, tourism, leadership).

3. Showcase Tangible Outcomes:

   • Use data, case studies, testimonials, and visuals.
   • Highlight measurable impacts and your proven track record.

4. Build Relationships and Leverage Influence:

   • Develop rapport with decision-makers before formal negotiations.
   • Use endorsements from respected community figures.

5. Be Flexible but Firm on Key Points:

   • Know your minimum requirements and be open to alternatives (e.g., partial funding).

Practical Application

[10:00]

• Anecdotes about helping friends and relatives negotiate:

  • A friend securing funding for a community project.
  • A relative negotiating a higher salary.

• Reinforces the idea that small changes in negotiation strategy can lead to significant financial gains.

Final Takeaways

[15:00]

• Negotiation is both logical and emotional.
• People operate on the "WII FM" principle ("What’s in it for me?").
• Training and practice are important to improve negotiation skills.

Call to Action

[18:00]

• Encourages listeners to explore the CZ6 Sales System for better negotiation and sales results.
• Testimonials about the system’s success in boosting sales by up to 50%.
• Promotes joining the program to transform results in as little as 14 days.

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