The ability to negotiate is a crucial trait for most businessmen. Your negotiation skills can determine your success within most industries in today’s competitive business climate. However, negotiating doesn’t come easy for everyone. This article will go deeper into 8 tips on how to become a successful negotiator.
- Prepare well
The first step to become a good negotiator is to prepare well beforehand. Make sure that you’re well equipped to explain desirable terms on your behalf, while meeting the opponent’s terms. If you have prepared well you will be confident during the negotiation process, which is one big step towards getting what you want.
- Build relationships
A good negotiator knows how to build relationships. They feel good about themselves and are able to make others feel good about themselves as well. When you negotiate with someone who likes you, they are more likely to agree on your terms. Strive to make a real connection with the people you are negotiating with. Find out what your counterpart values in life, what motivates them and what bothers them. The more you know about your counterpart the more likely you are to communicate well with them during the negotiating process.
A key trait of a good negotiator is their listening skills. Oftentimes when we are negotiating we think too much about how we can get across what we want. However, the key to get the opponent on your side is to really listen to their needs and wants. Hear out what they want and try to meet them. Acknowledge where they are standing and find creative ways to find solutions that meet both of your standards. Everyone likes to be heard and no one likes to feel walked over. Appreciate your opponent’s point of view and show them that you value their needs and wants.
- Ask for what you want
If you want to get the best possible outcome of the negotiation process you have to ask for what you want. It can be hard to ask for what you really want because we have a natural fear of rejection and have been taught not to be greedy in life. However, you need to put the personal aspect of the negotiation to the side if you want to get the outcome you want. When you dare to ask for exactly what you want, you will either receive what you want or an acceptable alternative. Do not let yourself be manipulated to settle for less than acceptable terms on your behalf.
- Show respect and appreciation
Try to put yourself in your opponent shoes in order to really understand what they want out of the negotiation. Show respect and appreciation. Show them that you value their opinion and want their needs to be met as well. Treat them with kindness and do not try to manipulate your counterpart in any way.
Negotiations often involve several meetings and it may take significant lengths of time to reach an agreement that suits both counterparts. It is important to show your opponent that you are patient and not in a rush to settle. When important decisions are being made you will have to build up trust before either of you can commit to a solution. Every negotiation is different, but patience is always important.
- Document agreement
When you have finally reached an agreement that fits both counterparts it is of great importance to get it down in writing. A written contract should be created in order to provide protection for both sides and eliminate any uncertainty of terms. A written contract protects the interests of all parties involved.
- Understand that everything is negotiable
In order to become a great negotiator you have to actually believe that everything is negotiable. Anything can be changed in your favour as long as you propose an ethical, feasible and mutually beneficial alternative solution.