Everyone has encountered a situation at some point when he needed to negotiate about something. This is because nearly everything in our daily life is subject to negotiation. If you want to become great at negotiating, you need to learn how to be effective at negotiation so you can be successful in your daily dealings with people. Successful outcomes hinges on the use of strategic thinking.
Good negotiators are aware that negotiation entails skills which need to be mastered so you can get the results you want. To become that kind of negotiator, you should follow these tips which are supplied by a strategic thinking business coach:
Be sure you know exactly what you want and what you are willing to negotiate about. If you are about to initiate discussions on a deal, turn the talk discreetly around as to how much money you stand to get. Remember, business is about being able to negotiate favorable terms (even about finance) for you.
Try not to let your emotions rule the negotiation process. Try to be friendly yet professional, patient and focused, and most of all calm – particularly when the other party is not.
Let the other party name figures first, rather than being first at broaching the subject. A case in point is when he asks about your hourly rate – you could reply by inquiring into the size of his budget for the project.
Ask for a better offer than what you actually think you will receive (though try to avoid being too aggressive or coming across as being arrogant.)
Try to look less interested, even if you are very interested. You should always be prepared to leave the negotiations if they turn sour. If you look like a reluctant provider or buyer, you might be able to get a better deal in the end.
Orient your negotiation strategy based on whether you are a seller or buyer for the service or product.
You may question any terms of the agreement prior to signing the contract. This is within your rights and quite healthy, so that if you and the other party can come up with better terms, then all the better.
It is best to conclude negotiations that benefit or satisfy both parties. If there are terms in the agreement that have minor importance, be open to giving them up if these will foster goodwill with the other party.
Be sure the other party knows you can always walk away from the deal because you have other options. It is certain that whoever has the better options carries the most power in the deal.
Knowing how to read and employ body language is a very important skill, so you can know what the other party is thinking, and so you can reinforce your own side.
It helps if there is a higher authority whom you have to report to, though it is also beneficial if you have a say as to how the deal will progress.
You should attempt to get the other party to split the difference during the negotiations. If they will let you, you might be able to get to split the difference again with them. If they refuse, you can hesitantly agree – thus making them believe that they won.