What do you do if your salary negotiation in Entrepreneurship is going south?

1 Stay calm and confident

The first thing to do when your salary negotiation is going south is to stay calm and confident. Don't let your emotions get the best of you and affect your judgment, communication, or behavior. Remember that negotiation is a process, not a one-time event, and that you can always revisit the discussion later. Maintain a positive and professional attitude, and show respect and appreciation for the other party. Don't take things personally or make assumptions about their intentions or motivations. Instead, focus on the facts, the value you bring, and the mutual benefits of reaching an agreement.

2 Ask questions and listen

When your salary negotiation is going south, the second step is to ask questions and listen. This can help you understand the misunderstanding, lack of information, or different perspectives that may be causing the issue. Asking open-ended questions can help you clarify the situation, uncover the other party's needs and interests, and identify possible areas of agreement or compromise. Additionally, actively listening can demonstrate empathy, build rapport, and prevent miscommunication or conflict. Some questions you can ask include: what are the main concerns or challenges? How did they come up with this offer or counteroffer? What criteria or factors are influencing their decision? How flexible are they on this issue or aspect? Are there any alternatives or options we can explore?

3 Provide evidence and value

When your salary negotiation is going south, providing evidence and value can help bridge the gap between your expectations and the other party's perception of your worth. Evidence and value can include data or metrics that show past performance, achievements, or impact; testimonials or references from customers, clients, or partners; examples or case studies of similar situations; comparisons or benchmarks with industry standards, competitors, or peers; and benefits or outcomes that you can deliver. By providing this evidence and value, you can justify your request, demonstrate your credibility, and persuade the other party to reconsider their position.

4 Know your BATNA and walk away point

The fourth thing to do when your salary negotiation is going south is to know your BATNA and walk away point. BATNA stands for best alternative to a negotiated agreement, and it means the option that you have if you don't reach a deal with the other party. Your walk away point is the minimum or maximum that you are willing to accept or offer in a negotiation. By knowing your BATNA and walk away point, you can evaluate your options, set your limits, and avoid settling for less than you deserve or giving up more than you can afford. You can also use your BATNA and walk away point as leverage or bargaining chips in the negotiation, by communicating them clearly and confidently to the other party.

5 Follow up and follow through

When your salary negotiation is going south, one of the most important things you can do is follow up and follow through. This will help to maintain the momentum, reinforce the relationship, and ensure that the agreement is implemented. Examples of follow up and follow through actions include sending a thank you note or email after the negotiation, summarizing the main points or terms of the agreement in writing, confirming the next steps or deadlines, providing any additional information or documents, and delivering on your promises or expectations.

6 Learn and improve

When your salary negotiation is going south, the sixth thing to do is to learn and improve. This could be due to a lack of skills, experience, or preparation. To reflect on your strengths and weaknesses, identify mistakes and opportunities, and enhance your knowledge and abilities for future negotiations, consider seeking feedback or advice from mentors, coaches, or peers. Additionally, you may wish to review or record your negotiation performance or process, read or watch relevant books, articles, or videos, take or attend courses, workshops, or webinars, and practice or rehearse your negotiation skills or strategies.