Drummer Talk

Drummer Talk 230 – 5 Tips for Talking Money

Dave and Troy discuss 5 tips to helping you learn to talk about money! In the news, we discuss Judas Priest’s Fall tour, Philip Selway’s solo record, how music education helps the brain, how we learned about Slipknot’s new drummer, and Pink Floyd’s new record.

Intro

  • Patreon Shout Outs: Hamish Edwards, Jeromey Balderrama, Michael “Skitch” Schiciano, David Kayser
  • New Drummer Talk Feature: Drummer Talk Play-Alongs
    • Preview of October’s track.

Drummer Talk Mailbag

  • From Big Rab on Twitter: “I’m really interested in Troy’s background in pipe band drumming! Tell us more!”
  • From Jerry (via Facebook):  Being a drummer, we are expected to be good time keepers. Most are very good. However, many times myself included, I notice that there is rushing and dragging and sometimes just difficulty being in the pocket. What say ye???? ( Troy’s Magically Rhythmic  Moving Bass Player story. 

News

Topic Notes – 5 Tips for Talking Money

  1. Know your bottom line
    1. Take into consideration travel costs – gas and tolls
    2. Will you miss any other work to take this gig?
  2. Don’t be afraid to walk away
    1. Let them open the door for negotiation
    2. Tips for negotiation
      1. Step One:Figure out your own interests and reservation point as well as you can. Keep reviewing these points while you negotiate.
      2. Step Two:Figure out the interests and reservation point of the Other (the other party of parties). Be alert to new data while you negotiate.
      3. Step Three:Seek to move the reservation point of the Other to widen the bargaining range especially if there is a negative range. (This process is often begun by “sowing doubt”) However, if necessary for a settlement that you must achieve, move your own reservation point. Through judiciously shared information and brainstorming, seek to expand the pie so that each side may get as much as possible of what it would like. Explore moving the reservation points of each side.
      4. Step Four:Seek a settlement as close as possible to the reservation point of the Other so that you win the maximum profit. Decide on fair principles and objective criteria to determine how to divide the pie.
      5. Step Five:Do what you can to see that both you and the Other come to see this settlement as the best possible one under the circumstances.
    3. Negotiation tactics:
      1. Bogey: Negotiators use the bogey tactic to pretend that an issue of little or no importance to him or her is very important Then, later in the negotiation, the issue can be traded for a major concession of actual importance.
      2. Deadlines: Give the other party a deadline forcing them to make a decision. This method uses time to apply pressure to the other party. Deadlines given can be actual or artificial.
      3. Flinch: Flinching is showing a strong negative physical reaction to a proposal. Common examples of flinching are gasping for air, or a visible expression of surprise or shock. The flinch can be done consciously or unconsciously. The flinch signals to the opposite party that you think the offer or proposal is absurd in hopes the other party will lower their aspirations. Seeing a physical reaction is more believable than hearing someone saying, “I’m shocked.”
      4. Snow Job: Negotiators overwhelm the other party with so much information that he or she has difficulty determining which facts are important, and which facts are diversions. Negotiators may also use technical language or jargon to mask a simple answer to a question asked by a non-expert.
    4. Important Terms
      1. Reservation Point:The point at which the Best Alternative to a Negotiated Agreement (the BATNA) becomes preferable to starting or continuing a negotiation. In a sale – or in any negotiation – this is the point beyond which a party will not go.
      2. Bargaining Range: The distance between the reservation points of the parties. This range can be positive or negative. If it is negative there will be no settlement unless one or both the parties changes reservation points.
      3. Interest Vs. Position: For example, you may insist on a higher salary to cover the costs of daycare for your child, but you never explain to your potential employer the reason why. The potential employer is unwilling to give your a greater salary because he is afraid of inequity among your future colleagues. With an understanding of why you want a greater salary, the potential employer could inform you that they are in the process of developing free daycare in the company building. Have your decision trees planned : If not this then that – Shark tank – If you don’t have alternatives you can get rolled if you’re too emotionally invested
  3. Decide if taking the gig is worth more than just the money
    1. Sometimes, taking a gig for less-than-ideal money can lead to other work
  4. Be frank about the money, and don’t act like they’re doing you a favor by paying you
    1. Don’t be a weenie
  5. Don’t always talk about the money after the money’s been talked about
    1. Once things are decided, don’t always bring up the money
    2. Don’t talk money with other members of the band/orchestra, only talk with the guy signing the check!

Music from this week’s Show:

In closing…

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