19
Jun
2015

See how the ability to negotiate can help you in getting the perfect business deal

See how the ability to negotiate can help you in getting the perfect business deal

You will negotiate everyday of your life and you may often not even realize you are doing it. This is because basic negotiation is an intrinsic necessity. However, learning to become a good negotiator can make the difference between winning a few deals and getting the best deal every time. The best way to learn to be a better negotiator is to practice and to utilize the following strategies:

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Interpersonal skills

In affect this means the ability to ask for something. It is surprising how many people are afraid to ask for what they want or would like. If you do not ask then you will never know if you could have got a better deal. You may actually be surprised by how good a deal you could have been offered. Whenever you ask for a better deal do so in a polite, courteous, friendly and as though you expect the answer to be yes. If the result is not to your liking ask again in a different way. Remaining friendly will ultimately get you the result you need.

Communication

The best way to obtain a great deal is to work out what you want and what you are prepared to offer. Once you know this simply locate your target market and ask everyone in it. The law of averages will work in your favor and you will almost certainly find the right deal.

Have alternatives

It can be a very effective tactic to hint, or even tell someone that their offer is not good enough and you will go elsewhere. Most people and businesses would rather do a deal lower than their normal terms instead of no deal at all. Of course, there are times when you may be asked to provide details of the better deal and in these cases you may need to be prepared to walk away. You can always try elsewhere.



Mines and Money London 2014

Teamwork

Negotiation is often critical whether in the world of business or personally. It is essential to have a supportive, loyal team ready to assist you. You should aim to spend at least twice as much time preparing with your team than the actual negotiation will take. This way you will ensure the whole team have the same approach and are aiming for the same goal.

Over the top

A common and very successful business tactic is to decide what you want and then aim higher – at least 10% or even 20% higher. This allows you room to maneuver and walk away with the deal you really wanted. It also allows the other party to feel like they have won as they have knocked your deal down. This means you have managed to get the best deal and still build or retain a relationship which may be of assistance in the future. It is also possible that your over the top offer will be approved and then you will be particularly delighted.

Offer value and enter negotiations prepared with facts

The point of any negotiation is to provide the other party with something they need. This may be as simple as a sale or it may be particular terms in a complicated business deal. The important element in successfully negotiating the best deal is of being able to offer something of value to the other party. Preparing before any negotiation will allow you to be aware of what your opponent needs and what tactics will help you to get what you want. This will ensure you get the best deal possible.

Mines and Money London 2014

Finally, it is essential to control your reaction to any offer. If it is not the deal you are looking for then you should visibly flinch and wince at the offer. A simple line such as “Is that the best you can do?” will convey your hurt. It is then essential to remain silent and wait for their response. They will have a better offer and your silence will force them into telling you it; the person who talks first will be the one who concedes.

The more you listen in a business negotiation, the better chances you have to land a good deal. Let them do the talking first and be the smart guy in the room.

By Steve Brown and TheGapPartnership.com!

 

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