Your negotiation skills can make a big difference to your success in business, and to the success of your organization. Even if you are not a person who enjoys negotiation, you almost always have to negotiate at some points in your career. You may be negotiating prices and terms with a supplier, project scope and delivery dates, or a starting salary at a new job. Whatever negotiations you are involved with, here are some points that can help you strengthen your negotiation techniques.
1. Listen
In a negotiation, you need to find out as much as you can about what the other party wants, and why. If you spend all the time talking, or planning what your next move will be, then you lose the opportunity to hear what they are saying and gather useful information. The best negotiators ask open-ended questions, and then listen to the replies. Practice active listening, and occasionally rephrase their statements to make sure you understand. The other party will appreciate that you are actually listening to them, and you get useful information for your negotiation.
2. Don't rush
In North America, we tend to be in a hurry all the time, and want to get things done right away. Some people even try to hurry a negotiation just because they feel uncomfortable and want it to be over. However, rushing through things does not usually yield the best results. If you are flexible about time, and the other party is in a hurry, then they may give you additional concessions just to get the deal done quickly. Your patience can pay off.
Skilled negotiators are rushing deals because they want to intimidate you. They talk fast and they're constantly interrupting the other party. Don't let them catch you off guard, keep your cool, and eventually they will make a mistake. Use false allegations and claims to your benefit.
3. You deserve more - ask for it
Some people are afraid of asking for what they want, because they assume the other person will not agree. You need to be assertive enough to say what you want. Putting your request out there puts a stake in the ground, and the rest of the negotiation proceeds from there. You may not walk away with everything you want, but the chances are better than if you never ask for it. It is important to note the difference between assertiveness (an asset in negotiation), and aggressiveness (which can alienate the other party).
4. Look at the other person's perspective
Rather than focusing only on your own viewpoint and what you hope to get from the deal, consider the other party's position too. Try to understand what their needs and wants are. The open ended questions you ask are important here. Once you understand this, show them how your proposal will satisfy their needs. This can make them more likely to agree to your offer. Never assume what your opponent wants, and always be ready to ask them directly. Assumptions lead to wrong decisions, and wrong decisions can make a negotiation backfire.
5. Leaving the negotiation table - not the smartest decision, but often the safest
If you don't have any alternatives to doing a deal, then the other party has you over a barrel, and can force you into terms which are not to your advantage. Always make sure that you have options, so that you can walk away from a bad deal. Don't be desperate. Before you enter the negotiation, figure out what your options are in case the deal doesn't work out.
Saying "no" to important negotiators is not an easy decision. Be polite no matter what, come up with solid arguments and explain why your company can't accept the deal. Talk about probable future collaborations and leave the negotiation table with a smile on your face. Don't hold a grudge.
There are so many smart strategies business people can use to refresh negotiation techniques. The secret is to know your numbers and as much information as possible about opponents. Be clear with your requirements, and always be willing to compromise to reach mutual ground. Don't give up to much though, and if a win-win solution is not possible, just say "no".
1. Listen
In a negotiation, you need to find out as much as you can about what the other party wants, and why. If you spend all the time talking, or planning what your next move will be, then you lose the opportunity to hear what they are saying and gather useful information. The best negotiators ask open-ended questions, and then listen to the replies. Practice active listening, and occasionally rephrase their statements to make sure you understand. The other party will appreciate that you are actually listening to them, and you get useful information for your negotiation.
2. Don't rush
In North America, we tend to be in a hurry all the time, and want to get things done right away. Some people even try to hurry a negotiation just because they feel uncomfortable and want it to be over. However, rushing through things does not usually yield the best results. If you are flexible about time, and the other party is in a hurry, then they may give you additional concessions just to get the deal done quickly. Your patience can pay off.
Skilled negotiators are rushing deals because they want to intimidate you. They talk fast and they're constantly interrupting the other party. Don't let them catch you off guard, keep your cool, and eventually they will make a mistake. Use false allegations and claims to your benefit.
3. You deserve more - ask for it
Some people are afraid of asking for what they want, because they assume the other person will not agree. You need to be assertive enough to say what you want. Putting your request out there puts a stake in the ground, and the rest of the negotiation proceeds from there. You may not walk away with everything you want, but the chances are better than if you never ask for it. It is important to note the difference between assertiveness (an asset in negotiation), and aggressiveness (which can alienate the other party).
4. Look at the other person's perspective
Rather than focusing only on your own viewpoint and what you hope to get from the deal, consider the other party's position too. Try to understand what their needs and wants are. The open ended questions you ask are important here. Once you understand this, show them how your proposal will satisfy their needs. This can make them more likely to agree to your offer. Never assume what your opponent wants, and always be ready to ask them directly. Assumptions lead to wrong decisions, and wrong decisions can make a negotiation backfire.
5. Leaving the negotiation table - not the smartest decision, but often the safest
If you don't have any alternatives to doing a deal, then the other party has you over a barrel, and can force you into terms which are not to your advantage. Always make sure that you have options, so that you can walk away from a bad deal. Don't be desperate. Before you enter the negotiation, figure out what your options are in case the deal doesn't work out.
Saying "no" to important negotiators is not an easy decision. Be polite no matter what, come up with solid arguments and explain why your company can't accept the deal. Talk about probable future collaborations and leave the negotiation table with a smile on your face. Don't hold a grudge.
There are so many smart strategies business people can use to refresh negotiation techniques. The secret is to know your numbers and as much information as possible about opponents. Be clear with your requirements, and always be willing to compromise to reach mutual ground. Don't give up to much though, and if a win-win solution is not possible, just say "no".