The business world is all about negotiations. For some people, negotiations are basically their second nature, for most of us it’s actually a real struggle, so mastering the art of negotiation is critically important.
In business, one doesn’t ask to get what they need. You only get what you negotiate for. So if you want to get what you want, but the craft of negotiations doesn’t come easy to you, you may need to apply a particular methodology.
Successful negotiations require certain skills, which you can totally learn by yourself! And like with every skill, you need to understand the basics of it. So here are 10 basic laws for successful business talks that will definitely help you understand the nature of negotiations.
- The Law of Deliberate Preparation
Before the negotiation process starts, make sure you’ve done all necessary homework to prepare your feasible viewpoints. The information you need to search for includes not only the topic of your negotiation, but also the all necessary info about your negotiation partner, or opponent.
Before you even start preparing, choose the negotiation strategy that to your opinion will definitely make the talks successful. The right negotiation strategy will not only bring you what you want, but also will make you feel confident during the negotiations.
And it’s ok to use somebody’s help. Outside perspective has proven to be more than helpful when it comes to noticing details necessary for the success of your negotiations.
- The Law of Diligent Analysis
It may seem that this law has something to do with the first one, but it actually needs to be singled out. Developing critical thinking skills is very important for successful negotiations, thus you need to work on analyzing and deciphering information.
Diligent analysis, however, includes not only deliberately going over the information about your opponent, but also weighing up the information about yourself. Doing this, you can use an old trick of taking a piece of paper, dividing it into two parts, one being your needs and the other one being your partner’s needs. You may even turn into a professional essay writer for an hour or two and write an analytical essay, which then you can re-read multiple times, while preparing for other negotiations.
III. The Law of Leaving Emotions Aside
Business negotiation is no place for expressing your emotions. The only emotion you need to show is calmness. And even if there’s a storm of feeling inside your head, learn how to calm yourself down. Your negotiation partner has come to talk to you about business, and if you want to be a successful businessman or businesswoman, it’s time you learned how to hold yourself together.
- The Law of no Dead End
Sometimes you may have the feeling that you’re stuck and there’s nothing you can do to make the bargain you’re negotiating a successful one. But don’t worry, there are always ways out of dead-end negotiations.
Start asking more questions and try to find some common issues both you and your partner are interested in. Talking about shared interests will create necessary atmosphere and will definitely put negotiations back on track.
- The Law of Flexibility
Your opponent should perceive you and your interests in multiple ways. That is, you shouldn’t show that you’re ready to accept or reject the deal right away.
Show both interest and doubt, that’s how you’ll let your opponent know that you’ve come here to negotiate a deal that will affect your business and the business of your opponent. And you’re serious about it. Let your opponent feel that.
- The Law of Observation
This one requires a lot of attention from your side. Show your opponent, how much of a good listener you are, let them speak and express their viewpoints, while you’re listening and quietly observing their behavior. Who knows, maybe some movements or words will expose unreliability of your opponent. Keep your ears and eyes open!
VII. The Law of Time
You have to understand that sometimes time is the enemy of the success of your deal. Learn how to manage your time, so that your work life and private life stay in balance. Don’t allow lingering negotiations affect your plans.
Let’s say, your opponent has decided to delay taking decisions so that you could change your mind or give up and play according to their rules. If you’ve got involved in such situation, there’s nothing wrong to reject further negotiations and walk away. These negotiations won’t bring you success anyway, so why bother?
VIII. The Law of Honesty
No matter what, stay honest. Remember that during the negotiations your partner also assesses your strengths and weaknesses. You create your image while you speak, and nothing will ruin your reputation faster than being dishonest.
Your opponent may not notice a lie right away, but it will be even worse, if they find out about it when the bargain is already on. Besides, being honest is a sign of respect. And respect definitely should be the foundation of how you do your business.
- The Law of Rejecting the First Offer
Accepting the first thing your opponent offers you would be the biggest mistake you could make during the negotiations!
Let’s assume that you’re negotiating a price for services you’ll provide to your opponent. You’ve already fixed the price, but your opponent offers you a price smaller than the one you’ve fixed. If you take their offer, you’ll be working at a loss.
Besides, your future business partners will definitely find out about the lowered price and will offer you the same. Value your work and don’t give in: that’s the part of your image.
- The law of staying positive
Even if negotiations don’t go as planned and eventually fail, don’t get upset. Remember that staying positive is a golden rule about everything. Learn how to learn from failure and next time use this important lesson during your next negotiations.
It’s utterly necessary to stay positive during the negotiations too. It doesn’t mean that you should go crazy joking around all the time. Give your opponents a friendly smile to show that you’re relaxed, calm and confident. Good luck!