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Doing business often involves striking deals and negotiating. Whether you are in the public or private sector, profit or non-profit, a small business or a major corporation, becoming a master negotiator will positively impact the growth and success of your business or organization. When you make the most out of these businesstrex negotiating tactics, you will be well on your way to closing the deal of your dreams.
1. Know What You Want
You have to be crystal clear about what you want out of the negotiations. When you know exactly what you’re driving for, you know what detours you can take in your negotiations. You can have the confidence to make the first offer or walk away when the situation warrants it. Knowing that negotiations are never personal, will also help you get what you want. Make sure that your proposal is rooted in reality and based on the market value.
2. Sell Your Goal
Sell your story, sell the future, and frame the past. Oftentimes in negotiations, the best story will win. If you can align your story to your values in a clever way that resonates with those you are negotiating with, you are much more likely to get what you want or at the very least, more of what you want. You will also need to tie in the future. Explain how you getting what you want out of the negotiation will benefit everyone involved. It helps to include the past to create a little more context. Weaving a well crafted strategic narrative that highlights your end of the deal and why it’s the best way to go can take you a lot farther than just facts and data. Although that’s certainly a big part of every negotiation, the key is making it connect.
3. Don’t Say Too Much
Listen. You have two ears and one mouth for a reason. You need to try to understand the other side. And not just their point of view either. It helps to study your opponent, learn their strengths and weaknesses, and familiarize yourself with their background and accomplishments. This information will allow you to disarm the situation should things take a turn for the worse. Humor, sincerity and some creative thinking can take your negotiating to the next level. So be sure to do more listening than talking, and make sure that what you say counts.
4. Stay Focused
Negotiations can test your patience, but it is important to stay focused on what is going on, so that you can have the best possible outcome. Even as you near the very end, your detailed attention is necessary. The fine details that need documentation for later enforcement often come at the end of negotiations. Summon all of your discipline and don’t get sidetracked by extraneous banter.
Keeping these tactics in mind can get you exactly what you deserve in business. Remember to always respect the other side, whether you’re making a generous offer or not. This respect will help you build bridges in business as well as help the other side see things your way.