Negotiating Skills That Work
What is the secret of a winning business?
A winning business thrives because its proprietors know how to negotiate their way into a sale or a contract. Some of the smallest and newest ventures have flourished into major businesses this way.
At first, the process seems hard. However, the good thing is that you don't have to enroll into some program or course to be able to hone your negotiating skills.
Negotiation starts with a simple knowledge of the product or service being offered, your target market, and a vision on how you want things to turn out.
Negotiation is not just for the uber professionals who deal with major projects. Every person engages in negotiation. Some people dread having to face others because of the misconception that negotiation is 'proving one's self'.
Negotiation becomes effective when all parties involved benefit from the deal. A one-sided agreement clearly shows that no negotiation took place. What are some of the skills that you need to learn to effectively negotiate?
1) Know what you want and how you want it achieved
At the start of the talks, you have to make clear to the other party about your objectives and expectations. Of course, this is to be done in a congenial and professional. Do not expect to influence the other person into reaching a compromise if you're negotiating in a condescending manner.
2) Research is the key
At the onset, you have to know what the party wants to be able to arrive at something that is favorable for both of you. Effective negotiating skills entail a give and take relationship. Also, if you have considerable knowledge about the kind of business the other party is in, you will be able to offer a product or service that they actually require.
3) Plan ahead of time
Having a list of points that you want to bring up and discuss with the other party will help keep the talks focused and in order. You might get carried away talking about a topic that you totally forget the relevant issues that need to be dealt with.
4) Ask questions and know when to listen
Wait for your turn to speak. If it's the other party's turn, then you should listen. Remember that the other person is also negotiating with you, so he also has some important points he wants to discuss.
5) Be aware of tricky tactics
Seasoned negotiators and salespeople know what to do to get people on their side. Be wary of these tricks so you won't be coerced to saying 'yes' without realizing what you've just done.
If the other party is not giving you anything concrete by saying “we’ll look into the matter next time', you should be alerted by an internal alarm system. It's either this person really has nothing to offer and would only want to get more information, he is not in a position to negotiate, or he is not prepared for the negotiation at all.
Negotiation is not really rocket science. A simple awareness of human personality and behavior is a start.
In summary, know what you want to achieve by the end of the talks. You should also be prepared to listen. Negotiation will help you reach a level that is convenient and workable for both parties.