Negotiation is both a skill and an art form in the business world. Negotiation is crucial at every stage of business, from seeking employment, to negotiating sales contracts to negotiating your point of view in a discussion. To improve your negotiation skills, follow the 5 tips outlined below.
1. Be Willing to Negotiate– While this may seem like common sense, many business professionals fail to keep an open mind when they begin negotiations. The purpose of a negotiation is to create an outcome that is a win-win for both parties involved. Negotiations are not a platform for proving to the other party that your opinion or idea is the right one.
2. Stay Emotion Free– When emotions intermingle within negotiations, one or both parties become more focused on winning than on navigating to a successful outcome. Stay calm, patient and friendly when negotiating to enable a positive result to develop.
3. Be Patient– Typically the individual who speaks the most frequently or who names a solution or price first loses. Work to maintain your position, focusing on the discussion and concepts until the other person develops and announces a solution or settlement. By following this strategy, in most cases, you will gain a final outcome that is better than originally anticipated.
4. Ask for the Moon– In a negotiation, never begin by asking for only what you want. Shoot for the moon and then let the other party negotiate down to a point where you are both satisfied. In most cases, you will get what you expect. So, shoot much higher than you are hoping for in terms of an end result.
5. Shoot for a Win Win– It is important that the party you are engaged in negotiations with does not feel cheated upon their conclusion. A successful negotiation ends up with you in the driver’s seat, but leaving the other party feeling that they also won.
Negotiation skills are both a science and an art. Many people innately have strong negotiation skills, while the rest of us require focus and practice to gain success.
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