Negotiation is certainly a tricky game, and a lot of it can depend upon the emotions of the negotiating party. In a way, it can be comparable to a good game of poker, you don’t really know the hand of the other player, and you just raise your bet depending on what you have, and what you think your “opponent” doesn’t have.
Negotiating can be done in almost any area of our life. We can negotiate to get a good price on an item in a garage sale, or we can negotiate to close a million dollar deal. Whatever it is, stocking up in negotiation tips can help you get what you deserve, or even more. Below are five of the most basic (and the most important) negotiation tools you can use for any situation in life.
Top 5 Negotiation Tips
- Understand Your Communication Skills – There are three things you need to understand. First, you need to know how your behavior will affect others. Second, know that everyone has their own way of communicating. And third, effective negotiators are those who can change their communication style to the needs of the listener. There are generally four kinds of communicators:
- Dominant – These people are good at decision-making and they love being in control of their environment. They are confident but can also appear arrogant and intimidating.
- Influence – They are similar to the Dominant in getting what they want but they use a less direct method. They can convince and motivate, rather than coerce.
- Steadiness – These people usually feel that instead of having change, it is better for everyone to just work harder while maintaining the status quo. They are good listeners and consider things before responding.
- Conscientious – They are introverted and reserved, but they are also task and control focused. When negotiating with these people, statements must be factual and straight to the point.
- By understanding these communication styles, and your own, you will be able to better deal with different types of people by being able to say the right things at the right time.
- Prepare – Many negotiations can fall apart because the negotiating party failed to prepare his case. When negotiating, it is vital to put together your supporting facts and data, while anticipating potential questions that may come out in the course of your conversation. Knowing what questions might be asked will allow you to prepare answers that will steer the negotiations towards your side. Second, you must also be ready with a back up plan. In case your expectations don’t happen as you wanted, you must know what else you can offer to save the situation in going to your favor. If a back up plan is not prepared, it may mean having to accept what the other party wants even if it puts you on the losing end.
- Say What You Want – Once you have analyzed what type of person you are dealing with, the first step towards beginning negotiation is by saying exactly what you want. If you yourself are unsure about your demand, then the person you are talking to will take the opportunity to fill in what he wants without sounding aggressive. To avoid this occurrence, say what you want in an assertive way, and let the other person know that you mean business.
- Listen – Negotiating doesn’t mean arguing. An effective negotiator will always know how and when to listen to the other party. Allow them to talk because this gives you insight to what they are planning to achieve. Ask open-ended questions so you can get the most information as possible. The knowledge will also give you an edge to better negotiate your position.
- Take Your Time – Most of the time, people get impatient with the negotiation process and they lose a half-won battle because they are too quick to talk or immediately agree to terms. It is always best to retain your composure and take your time to think over what has been said. Also, if the other party needs some time to think as well, don’t rush them. The more thought is put to the process, the more likely the results will be better and in your favor.
Additional Negotiation Tips
- Use Silence – Silence can be a powerful tool. It can get people to offer you a better option without you having to say anything.
- Be Willing To Walk – Once people see that you are willing to let go of the deal, you might just get a better offer. Before going in, know your limitations and see if you can let go of what you are negotiating for if the terms aren’t right.
Negotiation can often turn into a battle of wits, so making sure you are fully equipped will help you achieve your goals. As the saying goes “You don’t get what you deserve, you get what you negotiate.”
My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.