Why Renegotiate? The original negotiation which took place is unbalanced, unfair, or no longer relevant to the parties involved.
“Your ability to negotiate, communicate, influence, and persuade others to do things is absolutely indispensable to everything you accomplish in life.”
—Brian Tracy
Throughout your life, you have been making agreements with yourself and other people. Some of these agreements were mutually beneficial. However, you may find that things which you agreed to in the past are no longer helpful or relevant now. Once you have had a chance to reconsider, you may regret your previous decision and wish to change it. What are you going to do when life changes require you to renegotiate or when good deals go bad?
How Can You Renegotiate?
- First, acknowledge how and why something isn’t working.
- Second, be willing to open the conversation to renegotiate —especially if the other person shares new information which had not previously been considered, or if new information comes to light which needs to be evaluated.
- Third, be invested enough in the relationship or the situation for renegotiation to take place. All of these steps will help you create a more favorable outcome.
Renegotiation applies to a wide variety of situations that may necessitate readdressing details which had previously been agreed upon, such as:
- Serious and life-altering renegotiations for labor reform, nuclear arms agreements, health insurance regulations, or free-trade agreements.
- Important personal goals and security: renegotiation of real estate contracts, your salary and benefits, life insurance, college tuition, or the returns on your investments.
- Renegotiation skills also apply to the lighter aspects of life, like getting your children to do chores, rearranging job responsibilities at work, shuffling your time around to be more efficient, or eating a salad instead of a hamburger.
Years ago, we purchased a lakefront home which had been built in the 1950s. Upon reading the home inspection, we discovered that its electrical panel was original and the house would not be insurable until the entire electrical system was updated. As you can imagine, we renegotiated the price to pay for the updates.
I was recently dismayed by the high rates on my cell phone bill. I called the company, shared that I loved doing business with them and had been a loyal customer for over fifteen years. I went on to say that their rates were now over my budget and I was considering leaving to sign on with their top competitor. I kindly requested if they had any solutions for pricing before I moved my business. Taking the initiative for this renegotiation to take place reduced my monthly bill by eighty dollars!
Start thinking about the agreements in your life which no longer serve you, have become burdensome, are no longer fair, or are no longer relevant. It may be time for you to simply renegotiate!
Create a Win-Win
My friend and mentor, Nido Qubein, Ph.D., is the embodiment of dignity, service, grace, brilliance, and success. As the president of High Point University, the chairman of the Great Harvest Bread Company, a board member for many national organizations, a past president of the National Speakers Association, and an international speaker, author, and consultant, he understands the essential art of negotiation. Having arrived in America as a teenager with fifty dollars in his pocket, he exemplifies hope for the American Dream and has dedicated his life to helping others achieve it.
In his book, How to Get Anything You Want, he writes, “The art of negotiating is based on a simple fact—all of us need the cooperation of other people if we are to reach our career and personal goals. And each of us brings to life’s bargaining table something that others value.” When we seek balance and fairness for all involved, we are more likely to inspire collaboration and build bridges in agreements where everyone wins!
This blog is an excerpt from Susan’s new book, Release the Power of Re3 . . . Review, Redo & Renew for Positive Change & Transformation. To learn more, please visit www.SusanCYoung.com or www.amazon.com/author/susancyoung.
