Archive for 16 December, 2014

Ability to negotiate properly – how critical is it to your day-to-day business activities?

win win negotiation

There’s a misconception about top-notch business negotiators – people often assume that just because they have the best skills, they’re hostile and adversarial. That’s not always the case since having sound bargaining skills matters is critical to your daily business activities. In the business domain, you can’t survive just by saying “yes” to every proposition that you receive. Proper negotiation abilities are vital because they help you hone your business skills.

There have been many studies performed over the years on this matter, and they show that business people who resent negotiations are 60% less capable of success. If the rest of the people in your company would know to negotiate better it could greatly impact your company’s bottom line.

Outcomes must be determined before the beginning of a negotiation

It’s paramount that you understand exactly what your expectations are prior to entering a negotiation. Thus, you’ll know exactly if you can push forward or stop. Having a clear perspective of your bottom line averts you from manipulating or abusing counterparts. Furthermore, as long as your outcome is clearly defined, you’re on the safe side and you’re not at risk of saying “yes” to a deal that seems unacceptable.

Understanding the audience is critical

In negotiations and marketing, knowing and understanding your audience is critical. For that to happen, you must do your homework. How much information do your know about the person sitting across from your table? Before entering a meeting, you should find out more about their past deals. Did they have any issues with former clients? Are they open to negotiation? Do they have a rock solid reputation? Maintain eye contact and be prepared for anything. Engage in a conversation and keep your cool; it’s a sure way of knowing the person with whom you’re dealing with, not the business guru.

Negotiatio

Negotiation

Know your value – it will help you negotiate with a lot more enthusiasm

Many entrepreneurs are competent, trained individuals. They can achieve great things because they’ve got all the ingredients they need to attain greatness. Unfortunately, most of them are unaware of their true potential. In business, this can have dreadful consequences. Have your goals engraved in your head and adhere to your principles. Never let anyone intimidate you and stay focused if you want to make it in the business world. Having sound negotiation abilities is vital for your daily endeavors. You’ll have to persuade and convince employees, customers, and investors that you’re a capable and consistent individual. Provided that you know and understand your true value, you can do that.

Active listening – a vital skill in business negotiation

Generally speaking, business people are enthusiastic speakers. They want to say a lot of things and they want to say it fast. Unfortunately, they’re so focused on making themselves heard, that they forget to listen. Only the most skilled business persons can understand how important it is to listen. Active listening can provide you vital information about a counterpart, not to mention that it makes you appear calm and calculated. This is a good thing as nobody likes to negotiate under duress.

Active listeners are present and they never get caught up in the details; they allow the other party to talk and basically, they focus on what they’re saying. As opposite to average listeners, active listeners know every important fact, claim or allegation the other person has said.

Never get emotionally involved

As long as you can aim high and not get emotionally involved, you have an almost 100% chance of closing a good deal. Successful business negotiators are hopeful and confident in their abilities. You can get more as long as you have the nerve to ask for more. Only those who aim high become true experts in their field of work. The problem with most negotiators is that they get emotionally involved too often. They end up losing their temper and start screaming or shouting.

Don’t let an opponent get under your skin with plain words or an aggressive attitude. Fight back by remaining calm. It’s ok to be disliked, although it’s not ok to accept attacks and unethical remarks. In special circumstances it’s best to just walk away from a deal rather than risk damaging the integrity of your company.

By Jason Phillips and TheGapPartnership.com!