As you go through your business and personal life, you will see that 90% of all situations require negotiating skills. Whether you’re negotiating a list of chores with your children or handling a multi-billion dollar company merger, negotiating skills play a big part in how successful you will be in achieving your goals. In this post, we will break down some of the basic skills you should take into consideration when entering a new negotiation. Hint: Allowing your personal emotions to have any weight when negotiating with your children will often lead them to winning all deals.
Preparation in key to your success - Before entering any negotiation, do your homework. Research your counterpart’s needs, pain points, and priorities. Learn everything you can and define how your offer can align with their goals and aspirations. Define your goals, anticipate rejections, and find solutions to any setbacks. The more your prepare, the more confident you will be.
Define how your offer brings value - How can you bring value and work together to achieve an even better result than what they expect from this negotiation? Demonstrate how your product or service contributes to their success.
LISTEN - Listen not to respond but to understand. Watch their body language, pay close attention to the tone of their voice, and look for unspoken concerns and needs. Ask open-ended questions and show genuine interest to build trust.
Stay open to changes and flexible to terms - In the world of business staying flexible and exploring alternatives can be the difference between an open or closed door. If you are met with resistance, adapt and look for ways to help your counterpart get more comfortable in the negotiation. Explore alternatives that still align with your goals, offer more tailored solutions, and find a middle ground. Remember that rejections are not always a done deal and keep looking for ways to get to your goal.
Good luck on your negotiations and stay tuned here for more business tips. To learn more how we can help your business grow, contact us today!