Tag Archives: How to Make More Money
Negotiating your starting salary can be intimidating. You don’t want to scare potential employers away with an out-of-this-world number, but you also shouldn’t sell yourself short. There are, however, a few general principles that go a long way in preparing you to confidently, successfully negotiate your pay.
1. Have a minimum and a target number in mind beforehand. These two numbers are, respectively, the absolute minimum amount you are willing to be paid, and your ideal salary. Go in with these at the front of your mind as the ranges within which you’ll be negotiating.
2. Never reveal your minimum number. While your target number should be verbalized, your minimum is for you and you alone to help keep your target salary (or something close to it) on the table. Revealing your minimum weakens your negotiating power.
3. Make a counter offer. For the new job seekers, this part can be scary. Employers expect you to counter their offer, because they want to see that you trust and value yourself enough to do a bit of bargaining. Keep in mind that employers are using a similar strategy: they’re starting low and expecting to have to make a compromise with a higher salary in the end. Knowing this helps take the pressure off as you make a counter offer.
4. Be okay with walking away from a bad offer. Now, this depends on how much experience you have and how many other opportunities are out there. If you’re an entry level job seeker, you may have to deal with pay that’s less than you hoped at first. But as you build career capital, you’ll be much better positioned to confidently walk away from sub-par salary offers, because you know other employers will pay more for your skills. However, the general idea is that you shouldn’t be afraid to turn down an offer that doesn’t meet your requirements.
5. Above all else, research, research, research. None of the points above mean anything unless you go in prepared. Know the average salary of the position you’re applying for. Familiarize yourself with the company you’re applying to. The more you know, the better equipped you’ll be to successfully negotiate your compensation.
Here’s a great resource for researching salaries:
A common idiom I return to time and time again concerns the power of asking for what you want: You don’t get what you don’t ask for. As I’ve made my way through the complex challenges of the professional world, as both a senior leader at 3M and now as an entrepreneur, I’ve always come back to this little lesson.
It seems as though we spend an awful lot of time considering what we want—willing our reality to change on its own. But until we accept the fact that asking for it is the fastest (and sometimes the only) way to get what we want, we’ll be stuck in dreamland waiting for our wishes to be granted.
Often, we’re hesitant to ask for what we want. This hesitation can stem from a fear of being vulnerable or unworthy, or the belief that successful people never ask for help. All of these fears continue to work within us to maintain the status quo and prevent that dreaded, scary, risky change that’s necessary for a bigger and better life.
Don’t let your pride keep you from asking for what you want. And remember that at times it is absolutely necessary to ask for help—you don’t have to do everything on your own!
So how can you improve your ability to ask for what you want? By seeking out the areas where you desire change and beginning to ask for these things often, and with purpose. Now if only this were as simply and easy as it sounds! To help combat the hesitation to ask for what you want, I’ve gathered some important truths.
>> Most successful people have the help of others to thank for their own success. These people are typically happy to share advice and lend a hand.
>> Be honest with yourself about your current dreams and needs—know what you want.
>> Seek support from the experts and professionals around you who can best support your goals.
>> Always believe that what you’re asking for is very possible.
>> Be genuine about your wants and honest with yourself about your strengths and weaknesses.
>> Consider sending an email to introduce yourself to those who you think may be of service. Outline your needs and offer support.
>> Always be passionate about what you request.
>> Never let fear prevent you from acting.
>> Anticipate that not everyone will be able or willing to help, and always allow for a gracious opportunity for others to bow out.
>> Be persistent—try, try, and try again until you achieve success.
Don’t let your inner saboteur get in the way of your own success—believe that you are deserving of what you want, and have the courage to ask for it.
I was fascinated by a recent article, titled A Powerful (Mission) Statement, I read in Inc Magazine about a previously unknown company in New York that went viral due to its—yep—mission statement.
The article explains:“Most mission statements contain words like value and service but often fail to explain what the founders truly care about, much less inspire anyone else to care, Holstee’s mission statement is an exception. The Brooklyn, New York-based company, which sells eco-friendly clothing and accessories, rose from obscurity last year after its statement, dubbed the Holstee Manifesto, went viral. The document has been viewed online more than 50 million times and translated into 12 languages.”
The Holstee Manifesto:
The story above really got me to thinking about mission statements and how important it is that your mission statement aligns with the essence of all that you do. It’s not only important that your mission statement means something to you, but it also needs to mean something to your customers and employees, and should differentiate you from the masses.
Creative Ideas for a Better Mission Statement
Start with a question (or 5!):
Does your mission statement…
add value to your company?
explain why you exist?
inspire and encourage employees?
get specific and relevant to your reality?
Your mission statement should be 1-2 sentences maximum. Don’t hesitate to revise or renew your statement according to the natural evolution of your business, your priorities, and the needs of your customers.
As a final piece of food for thought, consider whether or not your statement quantifies your goal, such as Microsoft’s well-known goal:
“A computer on every desk and in every home, all running on Microsoft software.”
In a recent newsletter a friend of mine posed the following question:
How often are you consciously and intentionally being a learner?
His subject prompted me to think about all of the different places in my life where I learn, and I wondered at whether or not I was learning intentionally and consciously, instead of just out of necessity.
I have always encouraged those I work with to be lifelong learners, and I strive to be one myself. Because of this, I’ve decided to revisit this amazing habit.
Why YOU Should Be a Lifelong Learner:
- Learning boosts your self-esteem
- Learning keeps your mind fresh
- Learning gives you a personal and inner source of fulfillment
- Learning can make you money because you may advance your professional skills and learn new skills
- Learning makes you more valuable at home, work, and in your community
- Learning makes you a more interesting person because you can converse with a variety of people about a variety of topics
Tips for Keeping up the Habit of Learning:
- Read books: No matter your pace of reading, keep a book with you to fill your unanticipated open time.
- Engage others interested in learning: Spending time with other learners benefits you because you share knowledge and encourage one another.
- Look for opportunities to apply your knowledge: Have you studied a second language, but haven’t used it in years? Join a conversation group or sign up for community education!
- Be more open-minded: try things that you may have previously eschewed. After all, how do you know until you’ve tried it?!
- Finally begin that project: You know the one, the project you’ve been meaning to get to for the last year that requires you to try something new and possibly develop a new skill.
- Accept feedback from others: Listen to the advice and observations of those you trust and be willing to change.
Do you have a story about your own lifelong learning? What are some habits you’ve formed to make learning a part of your life today?
Interested in learning more about listening or working one-on-one with a professional career coach to gain a competitive edge? CONTACT MARGARET TODAY to learn about career coaching and UXL’s public workshops!