Today’s Wall Street Journal had a thought-provoking article about “How Steve Ballmer Became a Rookie Basketball Mogul” in which we learn that even CEOs get nervous when they are preparing to meet NBA superstar players for dinner. (And they binge-watch to relieve stress just like the rest of us.)
Today’s Wall Street Journal has a great piece on how to be a better listener. While it’s useful in any conversational setting, it is particularly valuable when you are approaching a negotiation with a client.
Before a negotiation, for example, you should:
- do a brain dump of pending work so you can pick it up later (so your mind is clear)
- make a list of questions and topics you want to cover (This enables you to fully listen to the other person, rather than constantly thinking of what you want to say next.)
- set an intention to talk 25% and listen 75% (yes, really!)
- drop your assumptions of what the other person will say and just listen
I am a big proponent of pricing by the project rather than by the hour; to me, it’s a no-brainer that both my client and I are better off if we focus on outcome rather than the amount of activity required. But what do you do if a prospective client insists on talking about your hourly rate at the beginning of a conversation?