Question: How can a novice be an effective negotiator in business, especially if you are also focused on developing the spiritual qualities of softness and humility? And how do you negotiate on price so that your company gets a good deal without compromising on personal integrity?
Answer: I believe that business is one of the best places to develop our spiritual qualities. Growing and sustaining a successful business calls forth the best and worst of who we are as human beings.
We can build a prosperous livelihood based on our wisdom, talent, and the values we cherish, such as integrity, respect, and sustainability, or we can be seduced by power, greed, and unhealthy competitiveness.
At first glance it might seem like negotiating business deals and developing spiritual qualities are diametrically opposed, especially if we subscribe to a win-lose game of business negotiations.
It is possible to negotiate so everyone wins, and this is the best course of action to take if you want to build long-term harmonious relationships with co-workers, clients and suppliers.
Everyone Is Your Mirror
Negotiating so everyone wins begins with the Golden Rule: Treat others as you would like to be treated. This means you have to think about the needs and motivations of the person you are negotiating with as well as the objectives of your company.
As a sales rep said to me years ago, you have three variables on a project: Time, cost and quality. Pick two. You can't have all three. (On the other hand maybe you can with the right players and smart management.)
It Doesn't Always Pay To Be Cheap
Price isn't everything. Giving the contract to the lowest bidder can have disasterous results. Collapsed bridges and buildings have made headlines in North America in recent years, and if you dig you'll see the projects were contracted to the lowest bidders.
Grinding someone down on price is demoralizing. The person you hire may agree to your price, but will likely be demotivated to deliver her best work, or make your project a priority. And they may not want to work with you again.
Lisa a massage therapist told me she was approached by two women asking for treatments at half the price with a promise to send customers her way. Lisa responded with conflicting emotions; on the one hand she wanted to help them, and on the other, she felt devalued and drained of energy by their request, so she made a counter offer. She would give them each a free treatment after they had brought in ten customers.
I've heard many small business owners complain about web designers (chosen for the lowest price) failing to deliver satisfactory work in a timely cost-effective manner, causing much irritation, wasted time, and gnashing of teeth.
Time, cost and quality can be negotiated. Let's say you have a limited budget for a project and you need to hire a consultant. How can you make the contract a win for all parties? If this person is just starting out, the project could be an opportunity to gain experience and exposure.
An experienced consultant may charge higher fees but save you time and money in sourcing materials, or in streamlining processes. If you do have a limited budget, what else can you offer to sweeten the deal? What parts of the project could be reduced or revised to save on costs?
Can you develop spiritual qualities such as softness and humility? Yes you can. However you need to know where to draw the line, or you will end up feeling exploited.
Integrity
When it comes to negotiating, the core value to uphold is integrity.
As Dr. Chester L. Karrass, a noted negotiation expert points out negotiating is more than a discussion of issues or a signed agreement. Negotiating is an unwritten judgment on the quality and character of the participants. In reaching that judgment, integrity is the key element. Integrity makes the deal work. There is no substitute for it.
The absence in integrity cannot be offset by intelligence, competence, or tight legal documents. Without integrity, no deal, however carefully written, is worth much.
Built into the transaction must be a high sense of values, the generosity to resolve subsequent difficulties equitably, and a commitment to meet the intent of the agreement. Integrity is always a big part of the price. Wherever it is lacking, you'll find yourself shortchanged.
Business is all about relationships, and relationships are built on trust, integrity and respect. Abide by the Golden Rule in all your relationships and not only will you develop your spiritual practice, you will also gain respect as a win-win deal-maker and attract loyal suppliers who will make every effort to do their best for you.