This presentation was given at "Hands-on Workshop for Negotiation Prowess" and geared towards women consultants and solopreneurs. We discussed ways to get over the fear of "No", negotiation frameworks, and experts scripts for making concessions and for raising your rate as a consultant.

1. Hands-on Workshop for
Negotiation Prowess
by
Ji Eun (Jamie) Lee
@jieunjamie
jieunjamie.com
Wednesday, August 7, 13

2. Agenda
1. Opening remarks: Kara Rota
2. Presentation:
A. Believing in your value
B. Articulating your value
C. Negotiation frameworks
3. Scripts for making concessions and raising your rate
4. Role-play, feedback and open discussion
Wednesday, August 7, 13

3. Before a negotiation I feel...
• Dread
➡Procrastination
• Fear
➡Undervalue myself
• Lower expectations
➡Lower outcomes
Wednesday, August 7, 13

4. Ding!
• Deep breaths. Relax.
• Imagine from their perspective. Identify shared
interests.What do you both want?
• Name the emotions you are feeling.Are they
based on reality?
• Go do something that makes you feel good.
How does the Most ConfidentYou look, walk,
and talk?
*adapted from It’s Always Personal, by Anne Kreamer
Wednesday, August 7, 13

5. How to ask for anything
Confidence
• Believe in your value.
Preparation
• 80% of successful
negotiation.
Relationship
• Communicate that
you care.
Wednesday, August 7, 13

6. Frameworks
• Value
• Interest
• Anchoring
• Concessions
• BATNA
Wednesday, August 7, 13

7. Value & Benefits
•Convenience
•Efficiency
•Organization
•Reliability
•Credibility
•Avoiding risk
•Authority
•Revenue, clients
•Time, money saved
•Problems solved
•Roadblocks cleared
•Insurance, reduced
risk
•Increase in prestige
What do your clients value?*
What additional benefits can you deliver?*
Wednesday, August 7, 13

8. Aligning Interest
• Dig deep for interests.
Ask diagnostic
questions:Why, how,
when, where, what, and
who.
• Listen to the other
side. Don’t interrupt.
• Frame your ask as
mutual benefit
Wednesday, August 7, 13

9. Anchoring
• Set an ambitious anchor. Increase your perceived value.
• Anchor based on value and benefits, not features.
• Research your market value according to experience,
geographic location, and industry.*
vs.
Wednesday, August 7, 13

10. Research Market Rate
• Search online, and aim for high end of range
• Glassdoor.com
• Indeed.com
• Salary.com
• Tap into your network
• Industry insiders, outsiders
• Mentors, peers
• Frame your rate as high value relative to
alternatives.*
Wednesday, August 7, 13

11. Responding to pushback*
• Make a concession and make it clear that
what you’re giving up is costly to you.
• Spell out the benefits to the other
side.
• Ask for something in return:
testimonials, referrals, more time, etc.
OR
• Best Alternative to Negotiated
Agreement
• Supply and demand
• What’s your bottom line for saying no?
Wednesday, August 7, 13

12. • Expert Scripts
Wednesday, August 7, 13

13. Concession Script:
HBS Prof. Malhotra
“This isn't easy for us, but we've made some
adjustments on price to accommodate your concerns.
We expect that you are now in a better
position to make some changes to the
project deadlines.
An extra month for each milestone would help us
immeasurably.”
Label your
concession
Ask for
reciprocity
Spell out what
you value
“This is literally the best we can do on price right
now. But if you can adjust some of your demands, we
might be able to reopen the price issue.”
Contingent
Concession
“Tit for tat”
Wednesday, August 7, 13

14. Script: Ramit Sethi, IWT
In the last year this is what we’ve done together. I’ve helped you manage
your email inbox, saving you over six hours a day. I’ve helped
refer you 19 clients generating a total of $450,000 and X
dollars in commissions.
This year, one of the things you told me was you’re looking for A, B, and C.
Now, I’m going to be adding A as a complimentary part of my
services to you. I’ll be able to do that for one hour a week for you as a
complimentary part of us working together.
The other thing is, I’m becoming more selective in the clients I
work with. Now, you and I have had a great time working together.We’ve
generated $450,000 dollars in revenue. And I’ve helped save countless hours.
My rate is going to be going from $15 an hour to $25 an hour. If
that’s something that you’re not comfortable with, please let me know. I’ll be
happy to refer you to someone else who might be a better fit for your cost
needs. But if this is something that works for you, these are my plans for the
next 30, 60, and 90 days and I would look forward to working with you
together.”
http://www.marieforleo.com/2012/08/raise-prices/ 5:09 - 6:55
Value
Addt’lValue
+
Freebie
Relationship
Ask & an out
Specific Plan
Wednesday, August 7, 13

15. Self-assess & say it out loud.
• How do you contribute value?
• What drives your client’s succes?
• How will you research your market value?
• What is your standard, or floor rate?
• What is your value-based, or ceiling rate?
• How will you frame your rate as high value?
• What will you ask for in exchange for a concession?
• How will you walk away from the table with grace?
Wednesday, August 7, 13

16. Finally, don’t settle at no.
Prepare. Practice. Be Persistent. (Yes, like a puppy)
Wednesday, August 7, 13

17. Appendix: Hourly Rate
Annual Salary Per Hour +50%
+100%
or double
+200%
or triple
$40,000 $20 $30 $40 $60
$60,000 $30 $45 $60 $90
$80,000 $40 $60 $80 $120
$100,000 $50 $75 $100 $150
$120,000 $60 $90 $120 $180
$140,000 $70 $105 $140 $210
Wednesday, August 7, 13

18. Was this valuable to you?
• Read my blog at jieunjamie.com
• Tweet me at @jieunjamie
• Email me at lee.jieunjamie@gmail.com
• Available for coaching sessions, webinars, speaking
opportunities and group workshops
I’m on a mission to reach 1,000 women this year.
Would you help me get there?
Wednesday, August 7, 13