soj
Founder
When I was on SmartCompany this morning, I saw this great article by Sue Barrett of Barrett.com.au
Top 10 tips when negotiating
The key points:
I love number 5. I've got to work on that myself!
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Top 10 tips when negotiating
The key points:
1. Develop “negotiation consciousness”
Successful negotiators are assertive and challenge everything. They know that everything is negotiable.
2. Become a good listener
Negotiators are detectives. They ask probing questions and then remain silent. The other negotiator will tell you everything you need to know – all you have to do is listen.
3. Be prepared
The boy (and girl) scouts were right. Gather as much pertinent information prior to the negotiation. What are their needs? What pressures do they feel? What options do they have? Doing your homework is vital to successful negotiation.
4. Aim high
People who aim higher do better. If you expect more, you’ll get more. Successful negotiators are optimists.
A proven strategy for achieving higher results is opening with an extreme position. Sellers should ask for more than they expect to receive and buyers should offer less than they are prepared to pay.
5. Be patient
This is very difficult for some people. We want to get it over with. Whoever is more flexible about time has the advantage.
Your patience can be devastating to the other negotiator if they are in a hurry.
6. Focus on satisfaction
Help the other negotiator feel satisfied. Satisfaction means that their basic interests have been fulfilled.
Don’t confuse basic interests with positions. Their position is what they say they want. Their basic interest is what they really need to get.
7. Don’t make the first move
The best way to find out if the other negotiator’s aspirations are low is to induce them to open first.
They may ask for less than you think. If you open first, you may give away more than is necessary.
8. Don’t accept the first offer
If you do, the other negotiator will think they could have done better.
They will be more satisfied if you reject the first offer because when you eventually say “Yes”, they will conclude that they have pushed you to your limit.
9. Don’t make unilateral concessions
Whenever you give something away, get something in return. Always tie a string “I’ll do this if you do that”. Otherwise, you are inviting the other negotiator to ask you for more.
10. Always be willing to walk away
Never negotiate without options. If you depend too much on the positive outcome of a negotiation, you lose your ability to say “No”.
Remember, everybody lives by selling something.
I love number 5. I've got to work on that myself!
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