I am Dr. Hassan, a Board-Certified Physiatrist and Independent Practice Owner. I help physiatrists start and grow their own profitable practices so they can achieve financial independence and live without limits.
When building a profitable practice, you will have to negotiate. Most people have very real misconceptions about negotiation. The pervasive perception of negotiation in the West is more negative than it is in most other places in the world. We imagine men screaming at each other across a boardroom table with spit flying. But that’s not what negotiation really looks like if you’re doing it correctly. The goal of negotiation is for both parties to get what they want. The aim is to reach a win-win.
There are several misconceptions about negotiating that we would like to straighten out here.
1. It’s too combative. As mentioned above, negotiation shouldn’t be aggressive or nasty. You don’t need to view it as a competition or confrontation because it’s not. Instead, bargaining is simply an exchange with points and offers.
2. It’s only for cheapskates. More people are watching their pennies nowadays. And one way to improve your wealth is to negotiate, especially on high-ticket items. Why pay more than you need to? How do you think people with a lot of money in the bank got there? No doubt, part of their strategy was to negotiate the price of things when appropriate.
3. It’s improper. Especially in the case of high-ticket items, salespeople expect you to try to negotiate price. If you own a house for example, did you set on the asking price or did you offer less? Same with a car. Most car dealerships state their highest price knowing that people will ask for something lower. If they get their asking price, all the better. But they don’t expect it. It’s not improper to save money.
4. It takes a certain type of personality. This misconception goes back to believing that negotiating is aggressive. Though it may feel less than comfortable in the beginning, some practice can take care of that. Even shy people can learn to negotiate. It’s a skill that can be learned, not necessarily something you’re born with.
5. It’s not worth the time or money. Again, in the case of expensive purchases, it can be well worth your time to negotiate price. Many people who are selling something — whether a company or an individual on Craigslist — set their price high, expecting to bargain. Is it worth your time to save a few car payments off the life of your car loan? If not, it should be.
6. It’s embarrassing. This misconception is rooted in the fact that most people are uncomfortable negotiating, but all it takes some practice. You also won’t negotiate on everything you buy. The kid checking you out at a fast-food place or movie theater isn’t going to knock down the price. But the salesperson trying to sell your dishwasher probably would. Knowing when to bargain and then practicing it is all that you need to end the embarrassment.
Let go of any misconceptions about negotiating and make sure you get the most out of your dollar. If you can save money by negotiating, what do you have to lose?
When accepting a job offer, you will have the opportunity to negotiate your starting salary. Check out our blog post here for tips on getting the highest number for the position.
I’m Dr. Hassan, a Board-Certified Physiatrist and Independent Practice Owner. I help physiatrists start and grow their own profitable practices so they can achieve financial independence and live without limits. Please go to businessofrehab.com/contractnegotiations to pick up the free guide to help you negotiate the contract of your dreams.
Attention, Physiatrists! Stop leaving money on the table. Sign up for the free video series: How To Build A Profitable Practice in 90 Days or Less: http://www.sixtytosuccess.com