Ilustration: Oscar Ramos Orozco
For most us, the thought of bargaining over money is an awkward and painful affair, something we try to get over with as quickly as possible like a root canal or watching a slideshow of our in-laws’ vacation.
But if we skip a few minutes of haggling, we can leave some serious cash on the table and, more importantly, short-change our true value as creatives. One study found that negotiating a raise of $5,000 for your first salary can result in more than $600,000 in additional lifetime earnings.A Cautionary Tale
In 1912, Teddy Roosevelt’s campaign printed three million pamphlets with his picture featured prominently. It was only after the pamphlets were printed that his staff noticed a small line of text that read “Moffett Studios – Chicago” under the picture. The campaign did not own the rights to the photo and licensing a photo for reprinting usually cost $1 per reprint.
A campaign manager was tasked with calling the photo studio and negotiating a fair rate for the use of the image. Shrewdly, the campaign manager contacted the studio and simply asked how much it would cost use the picture, never revealing that the campaign had already printed millions of fliers using the photo. Without further inquiry, the studio quoted a price of $250, which the campaign promptly accepted.
Had Moffett Studios been savvy negotiators they would have taken the time to gather all of the information before offering $250 and proposed a much higher rate instead.
How To Become A Better Negotiator
While the Moffetts of the world might appear a little naive, oversights of this sort are extremely common: we often fail to consider the full impact of a deal in the long run.
To make sure you get a better deal, here are a few tips on mastering the dark art of negotiation:
1. Separate the person from their position. This is one of the primary points of the popular negotiation book Getting to Yes. When we argue over positions, our egos are attached to what we are proposing. Instead, focus on the other party’s underlying interests. Find where interests overlap and work to develop solutions with the other party as a partner not as a combatant. An example from the book…. Sigue leyendo
Written by Steve Houghton-Burnett | PickTheBrain | Motivation and Self Improvement
Do you have a saying or ‘mantra’ that you use to guide some of the more important decisions in your life? If you do, then you’re not alone, you have something in common with some of the top achievers in the world.
President Theodore (Teddy) Roosevelt, for example, believed that you should always “Speak softly and carry a big stick”. Whilst this may not be the most positive fall-back position to have in life, it did serve him, and his nation, well when the tough times came. A more positive example is, believe it or not, Justin Bieber. In 2011 he released a film about his concert tour called ‘Never Say Never’, which reflects his view on life. Whilst you might argue that the young Mr Bieber is not the most intellectually challenging of individuals either on stage or off, you certainly can’t argue that in his world he has had significant success and he attributes his own success to his mantra.
So what are the key components to these types of sayings? After twenty years of informal research in this area I have come up with the following four core characteristics:
Characteristic #1: It can apply to the ‘lows’ and the ‘highs’ >>>>> Sigue leyendo
24/7 Wall St. has examined the finances of all forty-three presidents. This article provides net worth figures for each in 2010 dollars. Because a number of presidents, particularly in the early 19th Century, made and lost huge fortunes in a matter of a few years, the number for each man is based on his net worth at its peak.
In the case of each president we have taken into account hard assets like land, estimated lifetime savings based on work history, inheritance, homes, and money paid for services, which include things as diverse as their salary as Collector of Customs at the Port of New York to membership on Fortune 500 boards. Royalties on books have also been taken into account, along with ownership of companies and yields from family estates.
The net worth of the presidents varies widely. George Washington was worth over half a billion in today’s dollars. Several presidents went bankrupt.
The fortunes of American presidents are tied to the economy in the eras in which they lived. For the first 75 years after Washington’s election, presidents generally made money on land, crops, and commodity speculation. A president who owned hundreds or thousands of acres could lose most or all of his property after a few years of poor crop yields. Wealthy Americans occasionally lost all of their money through land speculation—leveraging the value of one piece of land to buy additional property. Since there was no reliable national banking system and almost no liquidity in the value of private companies, land was the asset likely to provide the greatest yield, if the property yielded enough to support the costs of operating the farm or plantation. Sigue leyendo