The heart of business lies in negotiation. Whether you’re trying to close on a sale or get yourself included on a plush project that could make your career, knowing how to get people to listen to you is crucial to your success.
How do you go about getting what you want? Read on for some expert tips for negotiating in today’s business environment.
1. Listen
You’d be amazed how much more people are willing to go to bat for you if you only do them the courtesy of listening to what they have to say. More important, by letting the other person do the talking, you’ll find out everything you need to know to handle the negotiation.
2. Research
Know what the other person needs before going in. Have settled in your own mind the value and worth of what you’re negotiating for. This information will help you to find the middle ground where agreement can be reached.
3. Know the Competition
Understanding what the other side needs will always work in your favor. Keep your focus there. How can you take advantage of their worries and frustrations?
4. Challenge the Status Quo
You start by being assertive. Remember, everything is open to negotiation. You need to step out in confidence and be able to express your needs, while never losing sight of the fact that you have the right to ask for anything.
5. Walk Away
Be willing to end negotiations if things aren’t going well. Don’t be hammered into a deal you’re going to regret. Also, by terminating the negotiation, you show the other person what your values are worth.
6. Slow Down
There’s no need to rush. Take time to think through the options.
7. Aim High
Oddly enough, you’ll have better success when you ask for something big.
8. Look for Mutual Benefits
If you can find the solution that’s beneficial to the person you’re negotiating with, as well as yourself, you’re sure to have success. Find out how your resolution can best meet their needs, then be sure to point that out.
9. Give and Take
If you give up anything in the negotiation, make sure you’re getting something in return for it. The deal has to be fair on both sides, or it’s not worth taking.
10. Remember Business is Business
Remember, success or failure is never about you. Nothing that happens in business should ever be personal.
