The Art of Negotiation

Being a successful negotiator requires a person to have other critical skills- such as having effective communication skills, and learning to listen more than you speak. Patience is also not only a virtue, but will but will benefit you greatly in a difficult negotiation. Mastering the art of negotiation can be beneficial to anyone from all walks of life and help you get things you want in life; as well as be a driving force in progressing your career. Here we will review some successful negotiating tips; and how to get what you want without being pushy.

Information is something all parties strive to learn in any kind of negotiation. Learning what other’s goals and objectives are early in the negotiation process can be beneficial to everyone. Another characteristic to learn from is body language; being able to interpret body language as well as being conscious of the signals you are sending with your own body language.

Below is a list of critical factors in successful negotiating:

1. Listening- the capacity to listen can be the strongest and most used skill and good negotiator has in their arsenal. It is a natural characteristic of humankind to talk as a way, even subconsciously, of validating they’re own self-worth. Letting other parties speak freely can be key to learning what their goals and intentions are in the negotiation process. The more people talk, the more information they give away. Remember this works both way, do say more than is necessary; and think about your response thoroughly before speaking. Silence can truly be golden; don’t be too quick with your answers, responses and questions.

2. Enter any negotiations relaxed and at ease, no matter if this is your first negotiation or hundredth, remain calm and focused on your goals.

3. Never insist that you are right, always strive to see others’ points of view. Negotiating is a give and take process; all parties have something they want to achieve. Prioritizing your goals and objectives is extremely important; know what you are willing to give in order to get something high on your list of what you want to walk away with. Successful negotiations end with all parties leaving the table with a feeling of achievement- it should be a win-win situation for all.

4. Make certain you are negotiating with the right person, prior to any formal negotiating be sure the person you are dealing with has decision making authorities. Do not waste time of everyone involved in negotiating with someone who can not make the final decision.

5. Preparation- in order to be successful in any situation is life being prepared to a critical factor. Do you’re homework before any talks begin, make sure you come to the table with clear goals and an agenda, knowing beforehand what kind of outcome you want to achieve. This includes researching the party with which you will be negotiating; get to know who they are, what they represent, and what they are seeking to get out of the negotiations.

6. Following are key factors to successful negotiations:

a. Knowing your own as well as other parties’ objectives.

b. Know what your needs and desires are.

c. Bargaining points, know your limits- what is your walk-away point. Do not be afraid to walk away if you feel that a positive outcome will not be achieved. Fall back, re-group and try again at a later date.

d. Leave your ego at home! The negotiation should not be about you, focus on the topic, do not take rejections to your offers personally.

e. Expect mistakes to be made, however make sure to correct any mistakes you make immediately, do not want for others to point them out to you. Correct you’re mistakes, learn from them and move on!

7. Perseverance will pay off in the end. You will sometimes be pushed by people just to see how far they can push you before you break. Know your breaking point and stick to your convictions. You can be pushed; just don’t let yourself be pushed around!

8. Do not be too eager or rush to close a deal; before making any final decisions take a break and make sure the outcome is what you want.

9. If you are negotiating as part of a team, make sure all team members are on the same page, you should present a unified front at all times.

10. Understand clearly the terms and conditions of any agreement. Read over all written material; look for any loopholes or inconsistencies.

11. Keep the big picture in mind, how will the outcome of the negotiation affect your overall goal and objective. Do not think short-term, will future negotiations be necessary?

12. Learn the art of persuasion. Being persuasive can be very beneficial. Most people like and are drawn to people they relate to, establishing a common bond or goal is good for all. However, be sure you are genuine; most people can spot a fake a mile away.

13. Demonstrate your trustworthiness, and that you are a trusted source of information. One way to demonstrate your honesty is to admit your weaknesses up front. If you are not an expert or confident in any particular area, do not try to bluff your way through it, just admit it and look to a expert in that area for advice.

14. In times of uncertainty people look to experts for advice and tend to follow what others have done in similar situations. If you reach this point in the negotiations, point out how similar situations have been resolved.