As a business owner, you know that negotiating is simply part of the job; but this skill doesn’t come naturally to all. In fact, negotiating can often be seen as one of the hardest things to do. Fear not – we are here to provide you with some tips to help you become a better negotiator.
Establish Clear Goals
Go into the negotiation knowing what you want and what you would be willing to give up, then lay it out on the other party’s table. Going back and forth can cause frustration, and if everyone keeps all their cards hidden close to their chest, it creates a level of distrust that can lead up to an unsuccessful negotiation. Developing clear goals is a great way to ensure that the other party hears your message.
Create Different Strategies
When it comes to negotiating, it’s essential to plan ahead. If there are multiple parties involved, you should think about the different outcomes and approaches to remain versatile and light on your feet. The last thing you want is for your single process to be shut down and not have a backup plan. Going in with an abundance of ideas will provide you with the confidence to explore all options.
As a negotiator, it’s essential to know yourself, including your strengths and weaknesses. If you know that you struggle with certain things during a negotiation, play to your strengths instead. Good things to recognize are ticks. For example, if you know that you get a stutter when you are stressed, you can recognize this during the negotiation and immediately start to calm yourself down. Once you are aware of yourself and your tendencies, you can stop yourself from getting in your own way.
At the end of the day, the best negotiation happens when everyone walks away happy. Do your part to ensure that your business deals go over smoothly and that you can enter these meetings with the confidence that you need to succeed. Have any questions? Share them with us in the comments below.