WHAT TO NEGOTIATE FOR
Welcome to the Career Boost Negotiating 101 Course in this session we are going to talk about Returns & Rewards and setting the Right Target.
In the last session I made you a bet. I bet you that what you think you want from work, your most valued returns are not what you actually think they are
And the bet was when I ask you what your #1 return you want from work you wrote it down and in this lesson I am going to take you through a workbook to prove I am right.
And in that small chance you got it right you are going to still have an aha moment of what #2, #3 and #4 are on your list.
Before we dig in I want to make sure you understand a few key things.
FIRST – You should start measuring your investment in your career in terms of ROI.
What returns are you getting for the things you invest in your job\career like time, talents and energy.
Any profitable business performs under a simple formula. They invest in something and then expect and measure the return on that investment. You recognize the acronym ROI. Put simply a business will invest in machinery, software and people and they expect to get a return on that investment that is usually a multiple of the money invested.
You need to start looking at your career in a similar fashion. You are going to invest your time and talent at work and you should look at what returns you want for that investment, also you are going to invest money in your career and you should expect a certain ROI on that investment.
Traditional college education is under scrutiny for the ROI it is providing to students. As the costs rise, the returns are not keeping pace, but that is a discussion for another day.
I want you to start measuring the amount of time you invest in a job and the return you get for your time and talent.
SECOND – You need to expand your vision of returns. I want to explain why I say returns and not pay or money.
Returns from your job and career go way beyond money! Anyone that uses money as the only measuring stick for ROI is going to lead a very unhappy life and career.
Money is one aspect to returns but it is the most sought after and thus makes it very competitive. It is blood red water to borrow a term from Blue Ocean Strategy.
The sad truth it’s not even the most valued, it just seems to be the default language and measurement for successful returns.
I want to share a quick story about setting the right target for you negotiations:
In the 1500’s castles in Scotland were constantly being broke into. One castle owner who was fed up with it hired a well know craftsman, James Mossman, to fashion an un-pickable lock.
The locksmith went to work and when he returned, he had a lock that, too this day, has not been picked.
The above picture is an actual picture of that lock. And yet, as crude as it is no one could pick the lock of the keyhole you’re looking at.
Despite the numerous attempts and challenges, this locksmith was 100% confident that his lock was un-pickable.
Even today, it’s nearly impossible to create locks that can’t be picked. So how did a locksmith design one half a century ago that still stumps the best thieves?
KEY TO UNLOCKING IMAGE
This locksmith knew his lock was un-pickable because he had those that trying to pick it aiming at the wrong keyhole. They were targeting on the wrong lock.
Hacking your negotiations and getting what you want is the key to understanding the things you’re trying to ‘unlock’ at work. If you don’t truly know what you want, you’ll never get the satisfaction you’re looking for.
With that introduction I want to introduce you to the Returns and Rewards Workbook. This workbook is designed to give you an accurate ranking of what things you value most when it comes to returns from work and your career.
Take your time with the workbook this is the most critical thing you will do in this course, because if you are not aiming at the right target, if you have leaned your ladder against the wrong wall you will waste years, possible a life of working for things you don’t value. So give this workbook the focus and time to get it right.
I highly recommend involving those close to you and even the Career Boost community on Facebook. Be challenged on these returns. Challenging them will either result in you finding results that are a better fit, or cement your priorities on things you truly value and want from work.
Over 95% of people work for the wrong compensations. This lesson will help you identify the returns you really want from your job so you can negotiate for the returns that matter.
When negotiating, you need to know what things are nice to haves but you’d possibly work without and what you must have or you’ll walk away from the job. You'll identify those in this lesson.
Remove risk (without going behind your boss' back) from your negotiations with offers elsewhere that will give you your must-haves. If your employers can't deliver, you're still set up to get those returns.
One of the most common rookie negotiating mistakes: asking for too much. When you know what you really want and focus on just one or two things, you'll exponentially increase your odds succeeding.
The first and most crucial part of negotiating is learning how to pre-negotiate. It lays the foundation for you to receive the biggest returns from work which is what you'll learn in this lesson.
Successful negotiations happen when you prove you can take the initiative. Do this in your work every day and in your reviews. Employers will reward you and even help you. Stand out. Drive your reviews.
You were hired to do a specific job. Before trying to go the extra mile - do what you were hired to do. This lesson will help you deliver on your KPI's and how to go the extra mile when the time is right.
Before your employer can give you what you want/deserve, you need to deliver on the KPI's you were hired to do. Give before you get. Learn to avoid mistakes to ensure you’re properly recognized..
Like chess, each of these lessons is like a chess piece that provides you the ability to put a strategy together. Now that you have learned how the pieces move, you're ready to put a strategy in place.