Business negotiations happen almost every day. Whether it’s a discussion between two potential business partners, an employee and a manager discussing a raise, or a team negotiating a change to a deadline, the same skills and tactics play a role. Whatever you may be negotiating, we’re here to help you make that deal
Radiate energy
Business success requires that you emit a vibration that emulates your personality and what you stand for.
Embrace the stalemate
Don’t necessarily treat a stalemate as the end, consider it a temporary impasse and a chance to “take a breather.”
Listen open-mindedly
Showing humility in your argument is a surefire way to create an open relationship
- A good negotiation skill is a knack for weaving silence into their strategy
- Strategic negotiation stems from listening to the other side closely and inputting your first offer at the perfect time
Don’t label people
People generally don’t enjoy having a label put on them, and this especially applies to a business situation.
You decide when the negotiation ends
This is your deal, so there’s no reason to let the opponent control it
Express sincere praise
Point out things you like about the other person you are negotiating with. This shows that you are willing to acknowledge their positives in order to build trust and strengthen your position.
Get better at negotiating by practicing
Effective negotiation strategies don’t happen overnight. Find your unique negotiation style in as many scenarios of negotiating as possible specific to your trade.
Clarify Assumptions
Don’t let misunderstandings diminish the negotiation process
- Be as organized as possible with what you want out of a deal without coming across as ‘robotic’ or ‘bland’
- The person with whom you’re negotiating will appreciate that you aren’t there to waste their time
Speak the other person’s language
Try adding them on social media and other platforms to get a feel for what they like and how to appeal to them
- Be so good at using their words that it subtly slips under their radar without them even consciously noting it
- A different country speaking a different language is another challenge
Useful Business Negotiation Strategies
Stakeholders and small business owners alike live in a world of constant negotiation
- These back and forth communication skills are invaluable in the business world, and there are proven strategies for getting the deal you want, regardless of the nature of the deal
No Apology Necessary
Don’t say sorry in business negotiation because it makes you look like you’re either trying to take advantage or simply not cut out for the deal.
Don’t speak in absolutes
Instead of speaking drastically, speaking hypothetically
Acknowledge agreement
Find areas where both parties both want to be in on the action and capitalize on it
Prove your point
You can’t go into a negotiation without a goal, and proving the validity of that goal is what it’s all about
Face problems head-on
Use neutral wording to avoid creating conflict
- A good hostage negotiator might not come right out and tell the hostage-taker that he is coming in armed, but rather silently enter posing as just another civilian
- Clarify that the problem needs to be addressed without negativity or over-angst
Establish a fallback position (BATNA)
If you can’t get exactly what you want, you should know what alternatives there are.
- This puts you in a more powerful position in the negotiation and will help you not be let down when a deal doesn’t happen.
Cluster agreements
Add details to the deal when the opposing side starts agreeing with you
- Win-win situations are always ideal
- Work out all of those side details before you start negotiating
- If you can help the other side come out on top also – now that’s the sign of a master negotiator
Repeat questions
Clarification is huge in business deals, so asking lots of questions is a must.
- Start with easy and friendly’softball’ questions like “How do you feel about investing 500 thousand dollars in our business?”
- This sets the tone for bigger questions to come out more casually.
Forget the past
Negotiations don’t matter when working on a new deal.
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