Gotta Know When to Fold ‘em: The Power of Setting Your Bottom Line Before the Negotiation

<p><span style="font-weight: 400;">Kenny Rogers sang “You've got to know when to hold 'em, know when to fold 'em, know when to walk away and know when to run.” These lyrics are actually very applicable to negotiations - especially when it comes to deciding what your bottom line is.</span></p> <p> </p> <p><span style="font-weight: 400;">We talk a lot about setting a high expectation goal, but the minimum we’re willing to accept is equally important. </span></p> <p> </p> <p><span style="font-weight: 400;">How do we determine what would trigger us to walk away? Why do we need to set this before the negotiation? In this episode, I talk about what Kenny Rogers classic song can teach us about negotiation.</span></p> <p><span style="font-weight: 400;"> </span></p> <p><strong>Three Things You’ll Learn In This Episode </strong></p> <p><span style="font-weight: 400;"> </span></p> <p><strong>- How to determine if you’ll thrive in a specific work environment? </strong></p> <p><span style="font-weight: 400;">Successful poker players are experts at identifying tells. How do we use our bottom line to notice red flags about employers? </span></p> <p><span style="font-weight: 400;"> </span></p> <p><strong>- Strategic vs. emotional responses </strong></p> <p><span style="font-weight: 400;">How do we make sure you’re giving an answer based on a strategic decision and not an impulsive reaction?</span></p> <p><span style="font-weight: 400;"> </span></p> <p><strong>- The importance of having a similarly attractive alternative </strong></p> <p><span style="font-weight: 400;">Why is it so important to have a ‘next best option’ when we’re negotiating?</span></p>