How Your Network Gives You the Edge in Negotiations

Hi there, happy Thursday!

Welcome to issue #33 of the Network Wrangler.

Today, we’re going to talk about how your network can make you a better negotiator and how you can use the science of gratitude to improve your workplace (in addition to your own life).

Have a question about networking that you’d like to see addressed in a future issue? Simply hit reply to let me know. Now, on with the issue…

Leverage Your Network for a Negotiating Edge

We use negotiation skills at work and at home and in places in between.

In fact, just about every time we interact with another human being, we’re negotiating with them on some level:

• who breaks their line of travel to avoid bumping into each other?

• who speaks first in an exchange of hellos?

• who opens the door when you arrive at the same moment?

And these are just the unspoken negotiations of space with a stranger.

Longtime readers know I’m a big fan of the Coffee Challenge (walk into a coffee shop, ask for 10% off your purchase, and wait for a reaction) because it builds resilience to discomfort.

This same coffee challenge resilience to discomfort gives us a leg up in transactional negotiations. I’ve laddered up my ability to sit calmly in uncomfortable silence several times this year to get better treatment and pricing. In each case, my counterpart was the one to blink first and move us closer to the outcome in my favor.

So, while sitting in discomfort is a great negotiation skill you can develop independently, your network can provide a significant advantage in negotiations by providing you with more comprehensive data and insights than your counterpart might possess.

Even if you’re well versed on how to negotiate effectively, here’s how your network can turn you into a more productive negotiator at work which will easily translate into an edge in your personal life, too.

1. Access to Crucial Information
   One of the most significant advantages of a strong network is access to vital information that can inform your negotiation strategy. Through your connections, you can gather industry insights, trends, and competitor information that are not readily available through public sources.
   
   This knowledge lets you understand the market landscape better and anticipate the other party’s needs and limitations before you even formally begin negotiating.
   

2. Understanding the Counterpart
   Knowing who you are negotiating with is as crucial as what you are negotiating. You can reach out to connections within your network to find out background information on the individuals and businesses you are dealing with, including their past negotiation behaviors, preferences, and business ethics.
   
   This information can help tailor your approach, making your propositions and proposals more appealing and harder to refute.
   

3. Enhancing Credibility
   Entering a negotiation with endorsements from mutual connections immediately boosts your credibility. Securing a recommendation from a trusted source within your network can ease tensions, foster trust, and set the ball rolling from a positive starting point for discussions.
   
   Credibility is a powerful asset in negotiations, often making the difference between a standoff and a successful agreement. Let your network polish your halo for you.
   

4. Broader Perspective for Better Deals
   A network that spans various industries and professions can offer broader perspectives that might reveal creative solutions and opportunities for synergies. This is why you should always be connecting with people who diversify your network.
   
   The insights you glean from them can enable you to propose innovative solutions that satisfy both parties’ interests, making your agreements more sustainable and valuable and win-win.
   

5. Real-Time Assistance
   During critical negotiations, quick access to advice or information can be crucial. Having a network you can tap into for immediate counsel or expertise can help you navigate complex negotiations with greater confidence.
   
   This is like having a phone-a-friend advantage in a trivia game: your network can step in and serve you at just the right moment you need it.

These advantages are all predicated on actively cultivating and maintaining your network. So create a plan to engage regularly with your contacts, offer mutual support, and keep on top of industry developments together.

When the time comes to join the negotiation table, your well-prepared arsenal of information and insights gleaned from your network will position you to secure the best outcomes.

Who are you going to negotiate with next, and how can your network assist you? Spend some time this weekend creating your plan to get to win-win faster.

Harnessing the Science of Gratitude to Transform Your Workplace

One of the most transformative habits I’ve nurtured in 2024 is keeping a gratitude journal. I write in it at least five times a week (I’m not going for perfection) to capture all the things that I’m thankful for. And when I write in it more than five times in a week, I capture that as something to be grateful for!

This practice of recording what I’m grateful for has concretely shifted my outlook to noticing all the good things happening in my life. I really needed this reframe at the start of the year when I was going through hard times, and I needed a lifeline to pull me through. Nowadays, I’m seeing that my outlook is so pervasive that it’s actually inspiring others to notice all they have to be grateful for.

Seeing its impact on my personal life, I’ve been fascinated to see how gratitude is a powerful tool that can transform workplace dynamics, boost morale, and increase productivity. Scientific research consistently shows that gratitude improves individual well-being and fosters a positive workplace culture.

Here are some of the ways that embracing gratitude can make a significant difference in your organization.

1. Understand the Impact of Gratitude
   Gratitude involves acknowledging the good in your life and recognizing that some of these sources of goodness lie outside your self. In your workplace, this can translate to your colleagues feeling valued and recognized for their contributions, which boosts their engagement and satisfaction.
   
   Psychologically, gratitude reduces stress and can enhance the overall mental health of all employees, leading to lower turnover rates and better workplace relationships.
   

2. Implement Structured Gratitude Practices
   One effective way to cultivate a culture of gratitude is through structured practices. Think about including gratitude journal prompts in your weekly staff meetings where your team notes things they are grateful for, or even host regular appreciation meetings where teams highlight and thank members for their contributions.
   
   Importantly, these practices help shift the focus from what’s going wrong to what’s going right, creating a more positive work environment and helping improve morale.
   

3. Leadership Team’s Role in Fostering Gratitude
   As with any behavior within an organization, leaders play a crucial role in modeling gratitude. When leaders openly express their appreciation for their team and individual efforts, it sets a tone for the rest of the organization.
   
   No matter our formal role, we can all act as leaders by making it a habit to acknowledge the hard work and achievements of our teams, not just in private but also in public settings like company meetings or through company-wide communications.
   
   In my last corporate role, there was a member of the legal team who had this wonderful habit of leaving short notes of gratitude on people’s desks at random times. I know every morning I walked in to find one of these notes made the rest of that day (and week) so much better than it would have been without the note.
   

4. Encourage Peer-to-Peer Recognition
   Encourage your colleagues to recognize peers’ efforts to further enhance a culture of gratitude.
   
   Creating formal peer recognition programs can empower employees with a sense of ownership over the positive dynamics of the workspace. Even doing something as small as holding space at the start of a weekly meeting for attendees to verbally recognize what they appreciate that has happened to them will provide a well-being boost.

If you can find ways to integrate gratitude into the core values of your organization, you can transform your workplace into a more supportive, productive, and engaged environment. This not only improves morale but also moves the organization towards greater success and fulfillment.

And if you’re not ready yet to start this practice at work, by all means, start your own gratitude journal this weekend.

I’m thankful you’re even entertaining the idea.

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