Negotiating Tactics
Negotiating is when a party of 2 or more people reach an agreement over a particular issue. Let’s be clear, negotiations are not disputes nor confrontations. Great negotiators don’t fight. Great negotiating tactics are important for all parties involved in order to create a win-win situation for everyone involved. Keep in mind that in business you get what you negotiate, not what you deserve. Negotiating is all about communicating well.
Want to be a good negotiator ?
Here are some tips:
Win-win or no deal: this may sound obvious but in order for a deal to be a good deal, it must be good for all parties. Assuming there are only two parties in the deal, it needs to be good for both. If it’s not good for both, then the deal should not go ahead as one of the parties will be unhappy. This will lead to resentment and negative feelings. Therefore it needs to be a win-win for everybody or no deal.
Ask questions: a question to ask that will most definitely get you the better deal is ‘is that the best you can do?’. Ask this question even if you think you have a great offer and then let the other party speak, see if they can come up with something even better. This is avery powerful tactic!
Create affinity and rapport: although it might not be feasible to have small talk before negotiations, it is a great way to get to know each other. Build common ground with them, it can be from speaking the same language, to having friends in common or have lived in the same city. Get to know your counterpart before going straight to the deal. Once you get closer, negotiations can start, and don’t forget to ask questions.
Find your why: what’s the reason for the deal? What are we discussing? Why do we need to do this deal? You need to have a reason why you want it in the first place. Lay the cards on the table, be transparent about it. What happens if everybody is a winner in the deal, of course there will be more deals and that is the intention.
Don’t be first: usually the one to go first is at a disadvantage. Instead be the one that asks questions and see what their intentions are. Again this goes back to building affinity and rapport.
Negotiating skills can help you in both business and personal matters. Continuous practice is the key to improve your negotiating abilities.