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3 Things I Learnt on Negotiating about Money

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3 things i learnt about money, ayishat amoo

I was a person who didn’t like to talk about what or what not I should be offered or talking about reaching an agreement, especially when it’s about money, on a situation. I didn’t like negotiation or anything that has to do with it. The whole process of questions and answers, as well as debating on issues, puts me off.

I didn’t like to talk about how much I need in order to get something done. Of course, all these has changed because I realised that when I don’t speak up and talk about what I need to talk about to the other person, I might regret it later on.

And so, I started negotiating, I started making the other person see the reasons why something should be done or not.

According to Dictionary.com, negotiation means, “mutual discussion and arrangement of the terms of a transaction or agreement”

For business women or entrepreneurs out there, sometimes you might need to negotiate, and here 3 things I recently learnt about negotiation:

  1. If it’s not Okay, Speak: this was one of the things that I didn’t usually do. I used to feel like if I talked about how I felt concerning a proposition to some people, they might perceive me in some kind of way. Before now, I don’t usually talk when an offer or a proposition isn’t okay, and then later on after accepting the offer, I used to ask myself why I didn’t talk when I needed to. And so, if what you are being offered is something you know isn’t what the person ought to be offering you, talk about it with the person. I used to be shy, so this was an area I didn’t use to like, but I learnt to deal with it. For instance, if you are to offer your services to a company, whether you are to help them with the interior design of their company or if you are to supply them with goods, and you are being offered less than it is needed to do the things you want to do, talk about it with the company. Don’t just talk about it; let them see why they need to pay you the right amount. As a business woman, whether entrepreneurs or SME owners, don’t be intimidated by the company or organisation, speak out and talk when you need to.
  2. Charge what you Need to Charge: another thing is that you need to charge the amount you need to charge for your goods or services. Don’t feel intimidated by what someone else will think. If you need a required amount of money to get something done, request for the money.
  3. Offer a Reasonable Price: you also need to offer a reasonable price and make sure you aren’t asking for an unrealistic amount. Sometimes you and the other person might need to meet halfway, which might be a win-win situation.

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