Business

03 how to negotiate

What is a negotiation? Negotiation is when two or more parties try to reach an agreement to settle on mutually acceptable terms of the agreement within the context of their own

Negotiating something has become an everyday occurrence for us. Whether it’s for something small like getting a discount at the bakery  in the cheapest market in India or something large like buying someone else’s company you should always use your negotiating tactics to get what you want at the rate you like. Click here to learn more.

Negotiation can be tough, but it all starts with understanding the basics. In this article, we’ll go into some of the strategies you can use to keep your negotiations moving forward.

1. Be prepared

Before you enter any negotiation, you must understand your position and objectives, as well as the other side’s position and objectives. You will also need to know what type of negotiating style the other party uses, for example, do they like to use humour or are they more formal? The more information you have about the situation, the better you can prepare yourself and ensure that you are getting the best deal possible.

2. Find common ground

This is one of the most important first steps in any negotiation as it helps both sides understand each other’s position and why they have it. Look for what you have in common and remember that although you may not agree on everything, you can still find a solution.

If you take the time to understand why the other party has taken a certain position and where they are coming from, then it will be easier to find a solution that works for everyone

3. Be clear about what you want

You need to know exactly what your goals are before entering into any negotiations. If you don’t know what your goals are, how can you expect to reach an agreement?

It doesn’t matter if you are negotiating with a colleague at work or buying a holiday home or starting a business to join the small scale industries in India, it is essential to define exactly what it is that you want (your goal) and be realistic about how much time and effort you are willing to invest to get it.

4. Position yourself carefully

Before entering into negotiations make sure that you have all the information at your disposal and think carefully about how this will assist your negotiating position. If there is something that might persuade the opposing party to change their mind, ensure they know about it before beginning the negotiation process.

5. Listen closely

The ability to hear what the other party has to say is more important than any skill you can acquire in speaking or negotiating techniques. If you don’t listen, then everything else is useless; If you don’t understand what another party needs and wants, then how can you possibly meet their needs or desires?

6. Respect

You should negotiate with respect and trust. All parties involved have the same goal – to create a good deal. Remember that the other person is a human being like you are. This means they have feelings too. And they will remember how you treated them later on.

Being tough is not the way to win If you try to intimidate, you will fail. And besides, if you bully your opponent, he will just become stubborn and refuse to make a deal at all.

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