facts<\/a>. You\u2019ll be able to be more persuasive in your argument if you can confidently cite relevant facts and statistics.<\/p>\n\n\n\n5. Have Your Negotiation Goals Prepared<\/h2>\n\n\n\n
In the same spirit of doing research ahead, if there is one thing all professional negotiators agree on, it\u2019s that you need to have your goals prepared.<\/p>\n\n\n\n
Having a clear vision of what you want to achieve and how you expect the negotiation to go is a good starting point. Whether that\u2019s wanting to aim for lower prices, landing a client, preferential deliveries, write down what your goals are. Rank them in the order of their importance. Plan your minimum position, your limit of how low you\u2019re willing to go before you walk away from the discussion. Finally, spell out the ideal outcome. What falls between those two points is your successful outcome.<\/p>\n\n\n\n
Then be extra prepared by having a plan B that you\u2019re going to fall back on if you\u2019re not able to meet the goals you originally set.<\/p>\n\n\n\n
4. Don\u2019t Approach It As a Battle<\/h2>\n\n\n\n
What many new negotiators do is approach negotiations as battles. The old school way was avoiding entering the room in a combative mood. Try to become more aware of your emotions. The goal is to remain calm, even if the negotiations aren\u2019t exactly going your way– especially then. You want to avoid combative behavior such as shouting, handling out threats, or losing control in angry outbursts.
The key is to avoid increasing the tension in the room. Instead of being combative, use a collaborative language. You want to be professional. Using phrases such as \u201clet\u2019s see another way we can work together on this\u201d goes a long way to moving negotiations towards a more positive tone.<\/p>\n\n\n\n
3. Don\u2019t Head In Hungry<\/h2>\n\n\n\n
Randomly enough, this is one trick offered by many professionals, including Cornell University professor Emily Zitek and Dartmouth College professor, Alexander Jordan. Both agree that feelings such as being hungry, feeling tired, or even bored, can dramatically derail negotiations.<\/p>\n\n\n\n
What happens is that hunger especially elevates a person\u2019s sense of entitlement, and it can lead to an inability to see things clearly and from another person\u2019s perspective, as well as overall poor and hasty decisions. So before walking in, make sure that you\u2019ve had a good meal, have gotten plenty of rest, and are feeling well.<\/p>\n\n\n\n
2. Make Strategic Concessions<\/h2>\n\n\n\n
Being a talented negotiator means that you actually have to do some concessions. Just make sure that they\u2019re strategic and that you\u2019re prepared to how much you\u2019re willing to compromise.<\/p>\n\n\n\n
This does the opposite of making you look weak or vulnerable. If giving some ground during a negotiation helps you reach your goal, then it\u2019s worth it. This is where doing research matters so much. When you\u2019re well prepared, you come in armed with information. You can find out which areas matter the most to the other party while which ones are less important to your business. As you negotiate, you can concede these points and then ask them to concede on the areas that are important for your business in return. It\u2019s a win-win! And speaking of them\u2026<\/p>\n\n\n\n
1. Let Both Parties Win<\/h2>\n\n\n\n
At the end of the day, the best negotiations end with both parties winning. What often happens is that negotiators who come in, ready for battle, and have a mindset that\u2019s more \u201cwin-lose,\u201d they tend to alienate their partners and basically kill any chance for repeat business.<\/p>\n\n\n\n
However, those who approach deals with a win-win outcome they\u2019re pushing for are likely to end up with a lot of opened doors down the road. Because they\u2019re willing to let both parties get something they can.
A ruthless, cutthroat attitude may even damage your professional reputation. Whether you\u2019re trying to grow your small business, your personal portfolio, or even run an entire corporation, it\u2019s important to try to understand the other party\u2019s perspective.<\/p>\n\n\n\n
Sure, everyone would love walking out of a meeting room, having scored all their ideal goals and exceeded all expectations. And everyone wants to feel like they got an amazing deal, like they just drove a hard bargain. But instead of seeing the other person as someone you can conquer, try to be partners with them. Reputation matters as a negotiator. You want to be known as someone who\u2019s honest. Approach negotiation with an ethical and a win-win mindset. This way, both parties walk out of the room feeling satisfied.<\/p>\n\n\n\n
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