Negotiating is a business standard, whether you’re negotiating about salary with a new employee or negotiating the final purchase price of your latest piece of real estate.
But many people are afraid of negotiating and don’t have the confidence to fight for what is best for the business. You certainly don’t have to go into a negotiation with the boxing gloves laced but following these few tips in each negotiation will certainly help improve your business presence and confidence.
1. Listen carefully. Both parties in a negotiation want something but don’t make assumptions about what the other party wants. Listen to their needs so you can tailor your response appropriately to satisfy everyone’s goals.
2. Be Honest. Your business reputation can make or break your success so don’t mar that credibility by being dishonest. The more forthright you are, the more likely you will come to a satifactory arrangement.
3. Be prepared. Do your research and come to your meeting prepared. You then become the authority as opposed to the disorganized shlub who has to look at notes for every answer.
4. Don’t be intimidated. Always ask for clarification if something is unclear or you don’t understand industry jargon. No one will fight for your business like you will so always ask enough questions so you feel comfortable with the terms of the deal.
5. Kill ’em with kindness. Who says negotiations have to be a fight? Use kindness, civility, and professionalism to create a pleasant negotiating atmosphere.
There are thousands of books available that can teach the art of negotiating but the best way to learn is by actually participating in a negotiation. If you’re just starting out, recruit someone with more experience to handle the negotiation while you watch and learn. As always, learn something from each negotiation and use that lesson in the next one.
