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Before The Negotiation: Do Due Diligence

Lesson 4 from: FAST CLASS: The Power of Negotiation

Vanessa Van Edwards

Before The Negotiation: Do Due Diligence

Lesson 4 from: FAST CLASS: The Power of Negotiation

Vanessa Van Edwards

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Lesson Info

4. Before The Negotiation: Do Due Diligence

Lesson Info

Before The Negotiation: Do Due Diligence

so number three. So you have your pain. Have your assets, your asset column, your pain column. Now you want to do your due diligence? This is that research piece. So I personally you could do this different way if you'd like. I personally like to do it in this order. I like to think about worth audit first that I like to merit match it with pain point. And then I like to do research. Some people start with the research. That's totally okay. The reason I like to do the research third or after is cause I kind of like to see where are my gaps in knowledge? Sometimes I'm pulling out the assets of the pain points. I'm like, Oh, I don't know anything about this demographic or I don't know anything about this company. And so it helps me fill in where to research. So the research column. Your answer. A couple of basic questions. Who is my partner? Right? Like who are they as a person? What do they want? What are their needs? What are his or her values? And we talk about personality science. I ...

master people skills, course they like a lot of evidence. A lot of details. Are they kind of big picture people? Are they creative? What are their values? How do they best learn from you? How should I approach them? Right? What kind of pitch do I think I'm going to be able to deliver? What is this meeting or this coffee or this phone conversation? But I think it's gonna be like and then using all this research should then try to fill in a little bit more to make sure those pain asset columns are completely full. What background info will help me in this negotiation? This is kind of your biggest column. That's why it's the biggest column on your sheet. You're kind of putting everything you learn here. Like those tidbits, right? What? What could help here? You know what the name of their Children are, where, where they grew up, All those little tips that might help you with report what else? To research couple buckets to think about. So, yes, obviously they're pain points, their values, their interests, company updates and industry trends are another one, especially in business that are kind of hidden and interesting. You want to think what are they talking about around the water cooler. So what news sites are they reading in the morning? What blogger they addicted to? Was there a really new industry? Pieces came out like, for example, if you're working in the Valley, AI is a huge thing we're talking about. The ethics of AI is a huge thing we're talking about. You could go read a couple of medium pieces. Come in. That would be a great report piece to talk about, right? You know all this? It's so interesting what's happening? You see that recent article that so and so put out that they're probably reading on that log. So thinking about what are they talking about? Around the water cooler makes you already feel like part of the team. What are they already talking about with their team? That makes you fit in much easier. And by the way, I think that report is incredibly important. Before you even get into money topics. So all these topics help you with those first few minutes of bonding. This then goes into as we begin to now talk about money, the incentives, the bargaining chips, the report building, and then your confidence where these are all pieces that you're going toe offer during that plane that that catch your tossing it back and forth. They're all pieces that you can use to leverage. I call this unbundle ing. So I mentioned this word earlier. This is why I want you to have 5 to 10 plus bullet points for each column. A lot of us think in big terms that we think compensation right where we think wedding. But I want you to start breaking all of those things down into the smallest little offers possible. The more quantity of assets and offers we have, the more our value goes up, even if it's very, very small. So everything I'm teaching you is trying to make sure that a it's preparing you for a really good discussion aimed at agreement. That's the official definition, not a confrontation, not a fight, and second, preventing that terrible moment when either they say no thanks. I won't pay it or let me think about it, right? So all of these things are to try to prevent those things from happening ahead of time before we even do anything. By the way, we're not even in the negotiation yet right? Like these are all things that you do on your own, which is great. This is also if you're in control of you do on your time you know when you want to. So give us a lot to do how to research. How do we do this research beyond the obvious First, obviously previous intel information they've given you write like So if someone emails your client, they give you all kinds of information Great. That's the obvious one Digital assets website Linked in are the obvious ones that we go to. But I also want you to be very aware of good reads and Instagram I cannot tell you how Maney deals I have closed When I'm like I saw that you love the book on your good reads I'm a good reads obsessed user You love the World Book How to win friends influence people I love that book It started my career so good reads Instagram digital assets Alternate resource is obviously this is for industry trends and updates I would you know Google there company name Google They're made a name, right? Like I'm always I have ah made a name I have books under made a name. I'm always super impressed when someone has figured that out. That means some deep dive Googling right, cause they've just all they've done is like search, paid name or seen that I have previous books. So is there pre other intel that you can get from them? Either Google in there company name or their full name or their previous name? Also reaching out to mutual contacts, you know, Have you noticed on linked in or Facebook? You have a crossover contact. Can you reach out to that person and say, Hey, I saw you went to Emory with this person. I'm bring them in. Their client I would love to have with their attendant. I would love to have if you could put in a good word. If you still talk to them, I would be so appreciative, right? Like doing that piece of the research. And if this are you doing so if you're doing salary compensation pay scale. So I love pay scale. There are great website. What you do is you go on here, you select your experience, your job title and it will give you compensation reports. I think that knowing industry averages is another piece of the research

Class Materials

Bonus Materials with Purchase

Worth Audit
Why Negotiation is a Life Skill
Quotes Cheat Sheet
Negotiation Goal Worksheet
Mistakes Cheat Sheet
Best Books on Negotiations
Sample Videos Updated
Negotiation Cheat Sheet
Laws Cheat Sheet
Proposal Templates
They Say, You Say
Raising Your Rates Swipe Files
Money Scripts
Gotcha Moments
Deadlock Cheat Sheet
Cold Pitch Swipe Files
Case Study - Wedding Photographer
Case Study - Corporate Speaker
Asking for a Raise Swipe FIle
The Power of Negotiation Workbook

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