There are two business terms that have mistakenly become synonymous and an impediment to monetizing your earnings – they are Compromise and Negotiation. This has become a negative trend currently in the market place as it relates to selling, monetizing value, and having the confidence to ask for and get what you deserved. Why? Because these two terms are so often used in the wrong context, and you must learn and be familiar with their true definitions.
Do you want to know how to immediately kill your value? Compromise your principles RATHER THAN negotiate from a business perspective when asking for money, fees, or capitalization.
Understanding words and their correct concepts and context, along with their spirit and intent, is the difference between getting lackluster results and driving prosperity. Without a solid understanding of concepts when making a case for delivered services and appropriate fee structures, so many professionals and business owners leave a lot of money on the table, damage their self-esteem, and hurt an organization’s ability to sustain.
Dictionary.com Definition of Negotiation.
- Negotiation is a
We honor and utilize Ayn Rand’s clearly stated definition of compromise as found in her book, “Doesn’t Life Require Compromise?” The Virtue of Selfishness, page 93. She writes:
- Contrary to the fanatical belief of its advocates, compromise [on basic principles] does not satisfy, but dissatisfies everybody; it does not lead to general fulfillment, but to general frustration; those who try to be all things to all men (women), end up by not being anything to anyone.
Vision Alignment Defines Negotiation:
- A sound, non-emotional basis for owning, selling and protecting your earned value.
- Contains the basic building blocks of the art and science of communication – task/purpose/outcome.
- Offers a sound business argument in direct relation to value and products/services being sold.
- Removes and eliminates emotional attachment or personal attacks.
- Supports ability to step away when impeaching your organizational and personal principles.
- Provides the impetus to use the biggest and most powerful word in any language – NO – when discovering the conversation has turned to compromise.
If you find yourself discussing a proposal or statement of work and notice you are sliding into the “rabbit hole” to impeach your personal and/or organizational principles, it is a wake-up call that you do NOT understand or own your earned value in the market place.
CONFIDENCE IS SIMPLY NOT ENOUGH.
When you “get” that concept, you will then be able to develop the skill of confidence to ask for and receive your worth.