Whether it’s paying off your credit card, discussing a telephone bill, buying a house or even a car, the principles of negotiation stay the same. You will always feel discomfort when negotiating, even if you are a skilled and experienced negotiator, the only difference is that those with experience have learnt to recognize and control these feelings.
So here are some handy negotiation tips.
– Set a figure you want and stick to it, don’t start negotiating with yourself. Decide before hand where you will compromise and where you will stick to your guns.
– Never accept the first offer or make the first offer. Accepting the first offer is a bad idea, because the chances are that even though it might sound like a good offer there is probably a better one behind it. Making the first offer can be risky because the other persons offer may be better than what you expected.
– If you are the negotiator then make sure your first offer leaves room for negotiation. If the other person is using their negotiation skills as well then they will also be thinking don’t take the first offer, so with that in mind make your offer higher than what you should which will then leave you a safe range for negotiation.
– Make sure you take your time, don’t rush a negotiation. There may become a point where you get a bit stuck in the situation where you’re not sure where to go with the offer, instead of panicking, take a minute to re-evaluate your position even if it means you walking away for a minute to clear your head.
– Walking out of a negotiation is a strong statement to make. It shows the other person that you believe your offer is fair and non-negotiable. This will prove to them that you are willing to risk not reaching an agreement, which could even persuade them to come to an agreement with your offer. If you cannot afford to increase or take the offer then end the negotiation. So if you’re not willing to walk out, then don’t walk in.
– Close quickly. Once you have made your offer, the next step is to seek confirmation. As soon as you have that, then you can discuss the next steps. The point here is don’t give the other party the chance to change their mind, you need to be clear, be firm and progressive.
If you want to learn more about how to Negotiate, then why not attend one of our Negotiation Skills Training Courses.