15
Oct
2014

Business negotiations – the art of letting them your way

They say excellent negotiators put a lot of value in long-term results. Unlike those who just want to win and leave, an expert is willing to make concessions and build relationships. Over the past 20 years, the way people negotiate has changed to 360 degrees. The mere fact that today we’re using technology makes us look at negotiations from a totally different perspective. There’s no time for chitchat when you’re 100% focused on a strategy. Successful negotiators are methodical, informed, and thorough. Their tactics are pure art, and mastering the art of negotiations demands a lot of patience and expertise.

Keep It Simple

A business can’t succeed when the owner’s bargaining techniques are unfitting. How can you close deals when you can’t reach an agreement with your investors or you can’t collaborate with your staff? Even though some of the strategies are common and have been used for decades, it’s amazing how naive people can be sometimes. The key to winning in business is to listen. Let them talk and use their words to shape a strategy. There’s no time to be nervous and wait for something magical to happen in a negotiation. Are you determined enough to face unexpected scenarios and do whatever’s necessary to take your company to new heights?

Preparation – an indestructible weapon in negotiations

Do you know your counterparts well enough? Because, it’s vital to know as much as possible to be in control. Buyers should really know the service or product being negotiated. Be prepared with solid information otherwise an opponent may take advantage of your insecurities and use them against you. Negotiations have nothing to do with luck, so rather than wish for things to turn out your way, it’s better that you work for a good result. Most bargaining techniques are psychological. To make them most of them, you must relate to your opponents first. Are they feeling nervous? Or maybe they’re too confident? Assess their behavior prior to starting to use negotiation tactics.

The Heist

Leverage is paramount



Expert negotiators don’t have a problem with exploiting the weak sides of their counterparts. However, this doesn’t mean you have to use sneaky tactics to make them snap; on the contrary, use your strengths to make the most of a business deal. Having leverage mean saving an advantage. Is your business unique in some particular way? Do you have something special to offer that nobody else has? That’s leverage.

It’s equally important to convince an opponent that you’re not bluffing. You have to be persuasive but not in an irritating way. Reveal something small but alluring to your partner, keep your cool, and find a way to build a connection. Relate to your counterpart’s business as well, by adding something like: “we value the quality of your product and we strongly believe that our company can make it better”.

Listening – a golden tool

Many business negotiators make one huge mistake when bargaining – they can’t stop talking. What they don’t know is that experts are the best detectives; they listen to each and every word you say, they take notes and they won’t hesitate to use speculative information to disarm you. If the information you provided is not accurate enough, they will have the upper hand. Can you afford to lose?

Expert negotiators ask analytical questions and then, they keep quiet. The other party will have answer and come up with arguments to support every claim made – everything you have to do is shut up and listen. For many business people, listening is an elapsed art. Very few people are good listeners. In business, this skill can only be mastered by the best negotiators. Only they can see the importance of active listening, not to mention that they can superbly use this tactic to their advantage.

Business man shows success abstract flow chart

How do you negotiate without putting a lot of pressure on your opponent? Many business individuals don’t have the personality to bargain; some are too anxious to deal with an aggressive attitude, while others are overly-confident and they end up losing. Negotiation seminars, trainings, and workshops may help you shape your strategies. It’s always a good idea to learn from the best, listen to their advice and come up with your own negotiation style.

By Steve Brown and TheGappartnership.com!

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