The ability to negotiate can never be underestimated. You need to be alert to bargain when opportunities to buy/sell present themselves. Imagine where your business would be if everyone within your organization could close successful deals with media providers to joint partners and business clients? Not only will your profits go through the roof but you will be able to acquire new business partners in the bargain as well.
Interested? Here are some tips and tricks that can help you realize that visual:
Know thy Audience
Like all good business strategies, you need to research your audience thoroughly. Find out as much as you can about them, including the deals they have had made in the past. Be prepared accordingly. It’s only possible that they have done the same for you.
Be Wise
You have the chance to show your understanding and respect for the other person. Let them feel good about it as they realize that you are not talking about your sole interest but rather to propose something that could benefit you both equally. This will ease the negotiation process by making it amicable.
Despite this, don’t make the mistake for not having a clue of what you are actually worth. If you can, mention past accomplishments that placed your business on the map to really make an unforgettable impression.
Still, it would make sense if you don’t use personal statements under any circumstance since you are selling with a different approach this time, i.e. in terms of mutual earnings. Changing “I want this” to “We need to do this” will allow you to stick to your point until they agree happily, without being offended or intimidated into an agreement. Additionally, communicate through your body language. Lean forward in the seat to indicate interest and openness.
Focus On Results
Understand what outcome you want to achieve before you begin negotiating. It helps to know when you need to stop and when you have to be adamant and push forward. Don’t let your ego determine what the discussion is going to be all about. Don’t stall or talk about random things. Instead, reel in opponents by focusing solely on the long-term deal.
Stick to the facts to avoid attaching a personal side to it. However, that does not mean you should avoid voicing your fears. Have the courage to admit them. Show them your concerns; show them you are concerned. This is important if you are the smaller party of the two – or three or four – because that makes you the underdog that they might take advantage of later. It’s likely they’ll help you deal with them and ease your concerns.
Share the Floor
Yes, you are there to get your point across, but maybe there’s something the other negotiator wants to ask you, something they might have not understood in the discussion as you frantically jumped from one point to another.
One tactic that creates impact is to act as detectives: ask probing questions and listen. Listen 80% of the total time. Then you will be able to acquire the information to lead positively without the need to be aggressive and lose a potential business partner in the bargain.
