Ability to negotiate properly: How critical is it for your day to day business activities?
Negotiation is often seen as a specialist’s skill. Only the toughest people can handle the pressure and come out of a meeting with their demands met. Hostile approaches have to be avoided because they cause controversy. However, this is not the case in a mutual negotiation. In fact, at some point in life everyone is a negotiator. It is simply not possible to go through life always agreeing with other people and it would certainly spell the end of a business if it just agreed to all the demands placed on it. There some excellent methods to ensure your negotiation skills are as good as a professional’s skills:
Going into any negotiation you must know what you expect to get out of it. It is good to start with an optimistic viewpoint but you have to know where your bottom line is and be prepared to walk away if this is not agreed upon. This information will allow you to commit to a deal or not. It will also allow you to push harder if you feel you might be able to get a better outcome. Knowing your outcome gives you the upper hand.
The more you know about the person or people sitting across from you in a negotiation, the better. You need to know what it is they are really after and then help them find a solution to that particular issue. Information concerning past negotiations can also be useful to understand their approach and knowledge of their past deals will allow you to evaluate the potential of any deal.
You are handling the negotiations for your business because you are qualified to do it. You know your subject and what the company needs. Don’t allow someone else to intimidate you. If you believe in yourself and your abilities, then you will be able to convince anyone else to do the same. There will be many times in your career when this will be necessary, there will always be someone who doubts you are capable of the role. You just need to remind yourself that you’ve earned the role and allow your actions to confirm this belief.
The most important aspect of any negotiation is listening. If you listen to what they want or what the issue is, then you will be able to respond and resolve this issue. You will appear calm and collected which will heighten others perception of you and your knowledge. Most importantly, listening will allow you to address the exact issue; not the one you think is a problem.
Emotions have no place in a negotiating room. If you become emotional, then you are no longer in control of the facts and figures and can easily make a rash, regrettable decision. Emotion also leads to heated arguments and this ensures no one comes out a negotiation successfully. Should you feel emotional during a meeting it is advisable to ask for a short break to collect your thoughts or to research a point. Aggression on the part of your opponent may well be intended to provoke a response and ruin the negotiation. Remaining calm will be more frustrating to them and show how professional you are. This is more likely to win you the negotiation than raised voices or allowing your frustration to show.
Negotiation might seem a scary subject but it is one everyone tackles every day. Keeping to the above points will ensure that you remain focused on what you and your company need from a meeting. Knowing what offer is acceptable allows you to negotiate from a strong position and not being afraid to walk away is essential.
What’s the point of a negotiation if the final outcome doesn’t bring any benefits to you or your company? None – in this case, we’re talking about a negotiation that’s completely useless to you. It’s really important that you prioritize. Think in the best interest of your company and don’t allow an opponent to persuade you to agree to a bad deal. Provided that you can work out a 50-50 agreement, it’s safe to say that the negotiation was successful.
By Davis Miller and TheGapPartnership.com!