Mastering the Laws...

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Of Skillful Negotiation

Negotiation is a game of give and take. No one wins unless there is something that is acceptable to both parties. You can develop negotiating skills that benefit both your business and those who you deal with.

Here's how:

See the Big Picture:
You know what it is you want, but how often do you consider the needs of those you must negotiate with? Skilled negotiators see the potential value of the negotiation and how it impacts everyone around the negotiation table.

Assess Interests:
It means being able to focus on meeting the needs of others. It means taking time to understand the other party's reason for negotiating. What do you know about their business? If you don't know enough about them, you don't have a good foundation on which to find common ground and establish rapport. It will take you longer to reach a satisfactory conclusion.

Get Acquainted with the Opposite Party:
In many negotiating sessions, both parties seldom know each other's wants and needs. Structureless meetings take a long time to conclude to the satisfaction of everyone. An informal meeting over dinner with whomever you will be dealing with will break the ice and help establish good feelings when it comes to negotiating.

Set a Bottom-Line Goal:
You're negotiating for a reason and you want to walk away from the table with some kind of success. Write down what it is your most important topic, the one subject you must accomplish during your meeting. That's your bottom line goal.

Plan Your Agenda:
You know the subjects you want to discuss. Organize them into an orderly plan. It creates urgency and saves time for all the parties. Keep the most important subjects the center of attention. If there's still time, the minor issues can be brought up. Otherwise they can be eliminated from discussion.

Add Some Value:
If you want something you absolutely need, you must be prepared to give something up. Give the other person something of value he/she can actually use.

Look for Common Ground:
When it comes to negotiating, it's human nature to try to get the upper hand. That kind of thinking brings animosity and stirs up anger. Focus should center on those things you can both agree on.

Listen to the Other Point of View:
Negotiating is hard enough without getting involved in heated arguments. The best tactic is just to listen to what the other person has to say without throwing in your own bias. If the conversation gets heated, steer the argument to smaller issues where you can find agreement. This will help to reestablish friendliness and rapport.

Take a Break:
Agreements don't always occur on the first meeting. You may find yourself locked on an issue. Rather than stew and argue, take some time off, whether it's a few minutes or over a weekend to clear your head and work out a possible solution.

Walk Away:
Be prepared to walk away if the other party is adamant on getting things their way and refuses to deal in good faith. They may well come back on a later day as times and circumstances may change their perspective and they become more open to your offers.

Skillful Negotiation is something that can only be learned. No one is born with it. But whether it has to do with business or within the family environment, negotiating can benefit everyone if it is focused on satisfying the needs of everyone including your own.

By Mr.Magica