Master the art of negotiation.
We negotiate every day - with bosses, clients, partners, children - yet nobody actually teaches us how to do it properly.
We're left to figure out one of humanity's most crucial skills through trial and expensive error.
Over the next 2 weeks I'll be explaining 3 negotiation strategies from real life experience in one of the most ruthless negotiating arenas in business.
Let's get into it:
STRATEGY 1: SILENCE AS A WEAPON
I was in a club boardroom negotiating a salary for a striker that had done particularly well that season.
The club offered way below his market value. A younger me would have listed every reason why this was ridiculous.
Instead, I said nothing.
Five seconds passed. Ten. I said nothing for over a minute.
Eventually I thanked them for the offer and said that this wouldn't be satisfactory for the player's value and we would have to explore alternative options.
As I was leaving the sporting director said: "We could potentially restructure the bonuses..."
I said I'd think about it and we'd regroup in a few weeks.
We'd shifted the balance. Over time those weeks we took our time and evaluated the options we had on the table.
During those two weeks the club returned with an improved offer, and then another.
By the time we returned to the negotiating table the number had moved twice, with no concessions from us.
We were now in a place to begin negotiations from a much stronger baseline.
Silence creates pressure. People fill it with concessions, information, or improved offers.
They interpret silence as potential deal death.
Experienced negotiators know this. Rookies talk themselves into corners.
Practice: Next salary review, don't reply straight away. Thank them and think about it. While exploring, evaluate alternatives. Then reply with all your options on the table.