Three Tips for Negotiation That Everyone Should Know
In many ways, negotiation is an art. That is to say, everyone has their own unique style or approach. However, it’s still vital that you adhere to core negotiation tenets, or your negotiations could fall flat. For example, no matter your negotiation style, it is crucial that you remember to consider your negotiation partner’s perspective. For your conversation to be truly productive, you must keep your negotiating partner’s outlook in mind in addition to your own views.
When negotiation is completed tactfully and effectively, it can help you build long-term professional relationships. With a willingness to listen to your negotiating partner and strong negotiation skills, you will reach mutually agreeable solutions and build rapport with potential clients, peers, and benefactors. To help, we have taken the time to round up our three top tips for effective negotiation.
1. Stick to Concrete Numbers
During negotiations, avoid setting an acceptable range, especially when you’re discussing money. When you do this, you are most likely setting yourself up for lowball offers. For example, if your target figure is $800 but you give a range of $700 to $1000, your negotiation partner is likely to begin at the most agreeable price point for them—your lowest threshold. They know exactly how low you are willing to go, which may lead to a lower offer than if you’d opened with a concrete figure. Then, you are forced to negotiate a higher price point from there.
In this sense, you’re providing your partner with the upper hand from the very start of the discussion. Keep in mind that it is acceptable to have your lowest acceptable price point in mind—in fact, this is a wise move that can keep you focused on your goals. Nonetheless, this isn’t information that should be disclosed to your negotiating partner at the outset of negotiations.
2. Be the First to Make an Offer
In a similar vein to our previous tip, making the first offer is an effective way to take the upper hand from the very beginning of your discussion. By doing this, you are taking control of the bargaining table and allowing yourself to have a greater influence over the course of the negotiation.
For example, consider a sales negotiation in which your negotiation partner is trying to sell you something. If they are the ones to make the first offer and set the initial value, they’re essentially free to set the price as high as they would like within their comfort zone. This leaves it up to you, as their partner, to suggest a lower price and proceed with the negotiations from there. As you can see, the entire course of the negotiation was set by your negotiation partner’s initial price. These circumstances make it easier for them to steer the discussion in the direction that best suits their underlying interests. Thus, you have given them the upper hand in the negotiation, whether you intended to or not.
Always try to make the first offer, no matter which side of the negotiation you are on. This is an important strategy to gain better control over the discussion’s direction.
3. Don’t Talk Any More Than You Need To
Begin by asking yourself an important question. During negotiations, are you taking full advantage of the power of silence, or are you attempting to fill these moments with commentary that doesn’t really drive the discussion forward? Worse, are you giving too much information about your position, such as your lowest acceptable offer? The reality is, this is an issue that many inexperienced negotiators face. You must become comfortable with silence and learn to use it as a negotiation tool.
For perspective, think of a typical day-to-day conversation with an acquaintance. If there is a period of silence, you might find the situation uneasy. This can ultimately affect your decision-making skills, driving you to ramble or say off-the-cuff things to help fill the silence. In a similar manner, silence during negotiations can be much more useful to your position than meaningless words.
When you have the opportunity to outline your position, say what needs to be said, but no more. During these quiet moments, make sure to look your negotiation partner in the eye. Don’t lose your composure or attempt to fill the silence—instead, wait patiently and calmly for your partner to respond. If your negotiation partner tries to fill the silence rather than counter your point, they may resort to making concessions they otherwise wouldn’t have made. As a negotiator, this provides you a fantastic opportunity to make a counteroffer, effectively enhancing your own bottom line. More information click here jio rockers
Strategy Can Help You Achieve a Successful Negotiation
In summary, there is a great deal of strategy involved in skillful negotiation. Focusing on a select few tips can help you gain the upper hand from the beginning of the negotiations process. By using concrete numbers, making the first offer, and using silence as a tool, you can gradually begin to improve your negotiation outcomes. For more info visit here movierulz