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 TaleIn 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:
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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
