For those new to the world of negotiations, here are five quick and easy suggestions for better results. If you have some tips of your own you’d like to share, please pass them on to zachary.chouteau@meetingsfocus.com.
Determine Specific Goals
You can’t hit the target if you don’t know where or what it is, yet so many leap into a negotiation simply seeking the ‘best-possible’ outcome. This lacks effectiveness for several reasons, and also can make the impression on the other side that you have no goal in mind—but are simply pushing them for whatever you can get. Enter every negotiation with a specific goal in mind and you’ll have better results.
Look for ‘Win-Wins’
The ideal culmination of any negotiation is a result that makes both sides feel like winners. A result that simply satisfies your requests but leaves the other side feeling less than thrilled might seem like a victory, but it’s a short-term success at best if the other party feels shortchanged; this is particularly true if you’re seeking an ongoing, mutually satisfying business relationship. And we all know those are the best kind.
Be Prepared to Walk Away
You should always have a backup plan—and thus the ability to walk away—during any negotiation. This is one of the biggest pieces of leverage that can be used during a back-and-forth, and the other side can sense it if you’re desperately committed exclusively to their offerings. Going into a negotiation without a viable alternative plan is a bit like walking into an Old West shootout without a gun: Bad idea.
Ask and Ye Shall Receive – Sometimes
Never be shy about asking for an extra, a freebie, a special, lower-than-ever rate, and so forth. You might not always get what you want, but you’ll never know until you ask. Consider having a few ‘minor’ requests in the bag that you can inquire about once a resolution appears imminent. “Gosh, Joe, I’m pretty much ready to sign on the dotted line, BUT…”
Listen Up
We’re shown in the movies and on TV that smooth-talking charmers make the most convincing negotiators, but the fact of the matter is that listening can be at least equally important. Try to hear the other side’s perspective (and offer) fully before opening your mouth too much; it not only shows you’re concerned about and interested in their side of things, but they might even offer you more than you were even going to ask for. You won’t know what the other side really has to say if you try to do all the talking.
