The perfect negotiation is one in which both sides come out ahead, although in reality one party always benefits more than the other, or simply needs the negotiation to end successfully for the good of the company. Here are some tips to introduce you to the art of negotiation.
1. Very often you need to know when to give ground or take a loss so that you can later put yourself in a better position and win. Especially at the beginning, it’s not good to be rigid in a negotiation: you should stay flexible until you have gained strength.
2. Remember this saying during a negotiation: “In a negotiation, as in any aspect of life, you are the master of your silences and the slave of your words.” Listening to the other side may be even more important. That way we gather information to process and use to target their needs.
3. It’s not advisable for the company’s top executives to take part directly in the first round of a negotiation. That way, if it fails or no agreement is reached, you will always have a second chance to call a new meeting, arguing that the person who negotiated at first didn’t know all the details.
4. Although we have talked about the importance of being flexible and knowing when to give ground, when we are keen on a deal we often end up conceding too much. For these cases there is a very Spanish saying: “In a negotiation, as in any aspect of life, the more you bend over, the more of your backside you show (pardon the expression).”
5. Stay calm in tense moments during the negotiation. It subconsciously shows the other side that you are in control of the situation. In a negotiation, whoever loses their cool first loses control not only of themselves but of the whole negotiation.
6. Following on from point 5, unless your listeners are deaf, keep your tone of voice even. Getting worked up leads nowhere, and raising your voice only shows that you have nothing important to say. Never lose your composure, let alone your manners.
7. Remember that when a negotiation raises no doubts, questions or objections and turns out to be incredibly simple, it doesn’t mean you have done a good job. What is probably happening is that the other side has no intention of keeping the agreements you have reached.
8. Success in a negotiation meeting doesn’t come by chance or luck. Success is planned by studying every point down to the last detail. In this article we explain how to improve your chances of success in a negotiation meeting.
Further reading
- How to run a business in times of crisis
- Business and The Art of War
- 5 ways to grow your company
- Advertising systems for your business
- How to be a successful entrepreneur
Featured image: Harris & Ewing, photographer, Public domain, via Wikimedia Commons.
