Wednesday, September 26, 2007

Another negotiating tool: WIFM

You may have heard WIFM in the context of managing others. WIFM stands for "Whats In it For Me?". Sometimes you'll hear it as "WIFM radio". (Ironically, there is at least one real WIFM radio station). WIFM doesn't mean look out for yourself - rather it's a reminder that others will be looking out for themselves. So put yourself in the other's perspective, and then answer the question of what's in it for them, without them having to ask. You can use this in managing others, but it is essential in negotiation. I finished my little negotiation yesterday, and we are both happy. This is at least partly because I looked at it from her perspective, and thought about how both our needs could be met. I structured a deal which lets her get what she wants if I get what I want. Conversely, if I don't get what I want, she doesn't either. It's fair, and it puts us both on the same team with the same objectives.

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