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If there was one skill that could make or break your success in business, it would be the art of negotiation. This is especially true if you are part of a small business that is trying to win clients against larger and more established businesses.
So today we feature ‘The 7 Ways To Be An Unbeatable Negotiator In Life & In Business"
1. Don’t Show Any Signs Of Desperation
The person who has nothing to lose will have the upper hand all the way through negotiations. If you look desperate, then you will not have any bargaining chips available to you because they will believe that you need, want, or have to settle this negotiation at whatever cost. It is human nature to spot weakness and play on it during negotiations, so keep any desperation at bay.
2. Start Off On The Right Foot
Maintain a confident manner right from the beginning. If you look nervous and do not engage them in a way that they respond to, then you could ruin your chances before you even get started. The other person is sizing you up and make sure that you are someone they can trust and want to do business with, and if you portray anything else then you may lose them to someone they feel more confident about. In order for them to listen to your proposals, you need to be personable, engaging, and conversational with them from the moment you shake hands.
3. Negotiate for Something Better
The other person has no idea what you want, need, or will be satisfied with, so if you start out with a high number or expectation, then you will set a line of expectations for them to keep in mind during negotiations. For instance, if you want to work out a deal to sell three units of something to them, then try to negotiate six units to begin with. This way, they will view the number six as your expectation. If you end up selling only three units, then you will still be satisfied and they will feel like they got a good deal.
4. Always Lead The Negotiation
Do not stand back and wait for the other person to begin. If you do, then you allow them to set the tone of the negotiating, and you end up being the one who is along for the ride instead of making the decisions. In their book ‘Negotiation’ Adam D. Galinsky and Roderick I. Swaab mention that they have found that the final outcome of a negotiation is influenced by who makes the first offer. Therefore, if you wanted to sell three units of something, and they start the negotiations, then they may only offer to buy two units without you even getting to set the high expectation of six. To counter offer six units at this point could cost you a deal. Therefore, always take charge of the conversation and set your highest expectations first.
5. Do Not Use a Poker Face
If you are not happy with an offer, then do not pretend to ponder it with thoughtful reflection. This will only cause the other person to feel as though they have an opening with their offer. Instead, if you are not happy, then show you are not happy with your body language and facial expressions. This will send the other person a message that you are not someone whose expectations lower easily. It will also signal that you feel strongly about your argument and position in the negotiation, and that could influence their decision in your favor greatly.
6. Have Solutions To Their Concerns Ready
Before going into negotiations sit down and think about all the possible concerns that they may have during your negotiation. Go over the solutions to those concerns so that you are able to address any concerns that may arise in a quick manner. According to Raphael Lapin, a Harvard-trained negotiation specialist, “Entering into a negotiation with the needs of both sides and some possible ideas to meet those needs will allow you to project confidence and optimism.” Even if they think of a concern that you did not imagine, you will likely be able to pull from your other answers and come up with a satisfactory answer.
Preparation will help you stay on your toes during the negotiation and quickly redirect any doubt towards confidence.
7. Set a Time Limit
Often, if the person you are negotiating with thinks that they may miss out on something good, then they will quickly search out the pros of your offer and focus on them to help them make their decision. The longer they focus on the pros, the more you can convince them that this deal is right for them. Remember, in order for someone to commit to anything, they need to think that they are getting something out of it, and if they are focused on the positives, and they think their time is limited, then they will act much faster than if they think that they can ‘shop around’.
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