2 2 - How to master the art of negotiation

How to master the art of negotiation

Negotiating is a very complex and stressful procedure. You need to handle the situations skillfully, in order to achieve your goal and close the deal. No matter what you are negotiating about, whether it is your salary for a new job, a pay raise or an attempt to arrange a new business deal, you need to be aware of negotiation tactics and mistakes that you have to avoid. Without them, you are in danger of stepping into the wrong path and not getting the result you are wishing for.

First of all, the most basic principle regarding negotiation is that it takes time. You may spend a lot of time and not even get what you wanted. So, through this time-consuming process, you need to make sure that from your side, you are doing everything the right way, in order to lead finally the negotiation process to your path and not jeopardize to ruin everything you were trying for. Below you will find some tips on what you need to avoid to have a successful negotiation.

The more prepared, the better

Preparation before starting a negotiation is the key that will open the door to a successful result. Being prepared does not just mean that you know numbers and results by heart. It means studying in depth your co-speaker and getting to know you he really is, his tactics, values, aspirations and weaknesses. The more prepared you are, the better navigated questions you will make to get better insights and having the opportunity to create a smoother path within the negotiation. Gathering data will help you gain a competitive advantage in the discussion.

1 1 - How to master the art of negotiation

Be patient

As mentioned above, negotiation is a process that takes time in order to succeed. So, at first you need to invest some time in creating a connection with the other party, so as both sides will feel more comfortable. Share some basic information about yourself to break the ice and show that you are approachable and that you want to build a relationship here. A move like that can turn a competitive discussion into a fruitful one. Moreover, don’t fear letting the other party with no communication for a short period of time, because it can help in seeing things from a different point of view and remove negative feelings.

Keep in mind that it’s not about you

When stepping into a negotiation, most of the times has to do about a professional matter. So, you need to set emotions aside and do not take things personally. If you realize that your emotions jeopardize the flow of the conversation, at least try to express them in the way they will benefit you. For example, take advantage of the situation and turn defensive feelings into expressing curiosity so as to learn something new and not affect your productivity.

Do not settle on a bad deal

Settling on a deal is really easy. But, if you settle on it just to reach an agreement, that’s not good. Since you have invested your time and effort for that deal, you want a good result. Otherwise, it’s most preferable to end up the discussion with no deal than ending up with a bad one that will disappoint you. Set your boundaries during the negotiation process and do not leave space for others to take advantage of you.

Negotiating is hard and will not always give you the deal you were hoping for, but by using the above tips and tactics, you increase your chances of success.