Sound negotiation techniques are vital for our careers. Whether we’re bargaining for higher salaries, promotions or other resources, one thing’s for sure – those who don’t like or want to negotiate will fail. We live in a competitive society with billionaire company owners who are barely in their 30s. What can we do to sharpen our techniques and succeed at negotiating? Here are some techniques that can help you out.
Be Willing to Reveal Information
If you’re not willing to share information with your counterparts, you won’t be able to win negotiations. One’s power to bargain depends on his ability to communicate and persuade. Many people approach deals with a bad attitude, and they assume that keeping all the information to themselves is a good thing. That’s not always the case; if you want to build a connection, interact and engage in a dialogue, you must share information that is useful to your opponent. If you want people to trust you, you must first offer trust. Don’t pull out all your cards, but reveal enough information so that you can convince the other party of your good intentions.
Prioritize
Generally, when we bargain, we also identify key issues that lead to further consequences. For instance, if you want to close a deal with a client and your goal is to score as much money as possible, there’s no point in negotiating if the client doesn’t want to agree with your terms. Get your priorities straight and be honest all the way through. Be precise; ask for what you want and find a way to reach an agreement; if that’s not possible, walk away and try not to seem overly persistent. Nobody likes an aggressive negotiator.
Have a Target Price in Mind
A target price is a price that you hope to obtain. It’s not a done deal but a goal you aim to attain. To make that happen, you must let your opponent bid first. This will offer you an advantage because you already know there’s an offer on the table. Before entering the meeting, you should know as much as possible about your competition in order to have more power, as well as hidden weapons in case they try to corner you with unfounded allegations.
Be Smart when Counter-offering
If you can’t or don’t want to make a first offer, you must find a way to stay safe and protect yourself against the anchoring effect. Be careful – many business people are not patient enough and they end up making offers that are too low. In this case, a smart opponent will take advantage and you may end up with a deal that doesn’t benefit your business in any way. A counteroffer must benefit you and your opponent equally, so before making any rushed decisions, take a moment to assess the situation.
Active Listening – A Skill Negotiators Must Master
Smart negotiators are excellent listeners. During a debate, it’s important to be present with your mind and body. Everything your opponent says can benefit you and your business; every now and then, the most insignificant claims can end up being the most valuable. Usually when a counterpart talks non-sense, it can either mean he has no idea what he’s talking about, or he has completely forgotten his speech. Don’t forget to take notes, particularly when speaking about numbers and percentages. Everything can be checked for accuracy, so do that, just be sure you’re dealing with knowledgeable associates.
Interpersonal Skills and Ethics
Every smart negotiator should have excellent interpersonal skills in order to maintain a professional relationship with counterparts. Serene, calm negotiators have a greater ability to persuade and influence the people involved in a business deal because they involuntarily create a positive environment where all the parties involved are relaxed and willing to reach common ground. Reliability and ethics are key traits every negotiator should possess. If you want people to look up to you, collaborate and be part of your team, then your intentions must be pure.
Why should you use sneaky negotiation techniques to sign a deal when you can be honest about what you want and wish to achieve. Successful negotiators are smart negotiators, and smart negotiators know that a 50/50 agreement and a partnership are way better than an 80/20 deal and a company that will never want to do business with you again.
