Business: Keys To Negotiating Well

Whether it's buying a car, asking for a pay rise, saying 'no' to a friend or renting an apartment - at some stage in our lives we all are going to need to know how to negotiate. Yet, so few of us know the basic skills before embarking on life changing purchases or decisions! These 8 keys will assist you negotiate well.

1. Know the outcome you want.
Do you want a win-win outcome where both parties benefit? Or a win-lose outcome where someone (presumably the other party) is not happy with the result?

It is important you know what type of outcome you want because that will affect the long term relationship you have with the other party. Win-win outcomes are beneficial where you have an ongoing relationship. For example, when you negotiate a pay rise, you don't want your boss to feel he/she is the 'loser'. However, if you are buying a car from a car lot, you may not be so concerned about whether the car salesperson feels as though they 'won' in the negotiation!

2. Know your 'position'.
How important is this deal to you? How much do you need it? Could you walk away from the deal? What alternatives do you have? What is your "bottom line" and what (if anything) are you prepared to concede? You should not start negotiating until you have thought through and considered all of the consequences for all of the different outcomes that may eventuate.

3. Know your counterpart's 'position'.
Try to work out what is important to them in the deal. When you know that you have an advantage. Try not to reveal what is important to you! Keep a poker face and play your cards close to your chest.

4. Work out different scenarios ahead of time.
Being caught by surprise will NOT strengthen your position! Think through all the different possibilities which may eventuate and plan for each and every one of them. It is useful to brainstorm and write down on a piece of paper what could possibly happen. For example, if they said, "XYZ" - I would respond with, "ABC". This way you can be prepared for just about anything that may happen.

5. Know yourself.
Know your own weaknesses. If you are a more gentle personality your natural aversion to conflict may toss you into concessions that aren't necessary! If this is you, learn about yourself and take counter action. If you are overly stubborn and never give way to minor points, know this about yourself. Your stubbornness, holding out for 100% your own way, may cause you to lose a really great deal!

6. Back up your position with logic.
If you negotiate from a purely emotional position, emotion will sway you from your position. Fear of loss, sense of failure, conflict, pressure, sentiment! All can be applied to sway you from sticking to what you really want. When negotiating for a pay rise know what similar companies are paying for similar work. When placing an offer on a house substantiate your lower offer with the costs of repaving the driveway, renovating the bathroom, retiling the entrance?.or whatever you see needs doing. This is a much stronger position than plucking a number out of thin air!

7. Work out what you can concede.
Find something in the deal that for you will not be important but for your counterpart may be of significance. This will be like gold to you! A 'sweetener' can be what clinches the bargain in your favour. You will need to be poker faced and pretend this is a big deal to concede! Save this item for the final offer you make.

8. Have an exit strategy.
If everything goes against you, you will be saved by your contingency planning! If you don't feel in control, stop talking. Immediately!!! Make sure you are listening to the other person. If you are doing most of the talking the chances are you are doing most of the conceding. Offer to break the meeting and reconvene at another time when you have been able to consider what has already been put forward.

Skillful negotiation takes time and practice. Armed with these basic skills it doesn't matter how reticent you may feel towards negotiating an outcome you want! By applying these keys you will be well positioned to improve your negotiation skills and feel more empowered when approaching tricky situations.

© Kim Beardsmore

Kim is part of an international network of home business owners operating across 60 countries. We urgently require people to join our expanding international team. If you are interested in earning extra income around your current schedule, we would like to hear from you. We provide full training and ongoing support to ensure your success. Visit now: http://free2liv.com/?refid=neg-567887384

---

Barter: Its Not Just for Doctors Anymore

Time was, in the country, the local "doc" was as... Read More

Managing the Sales Negotiation Process

How many times have you heard:"You've got to drop your... Read More

Negotiating Skills: Ask For More Than You Expect To Get

It creates some negotiating room, and you might just get... Read More

Dont Be Afraid Of Silence

In any conversation with two or more people, there is... Read More

The Art of Negotiation in 535 words

I want to get better at negotiation, but where to... Read More

The Ultimate Truth in Persuasion

OK, so you want to improve your persuasion power right?Why?... Read More

Avoiding and Accomodating in Negotiation

The avoiding approach to negotiating is characterized by losing, leaving,... Read More

Communicating Across Time Horizons

There was a time in my life when I sold... Read More

Negotiating Technology Contracts

Have you ever tried to negotiate a deal for software,... Read More

How To Deal With A Complainer

How To Deal With A ComplainerA Complainer Is Characterized by:1.... Read More

How To Communicate Using Space

What Is Proxemics?The study of the communicative aspects of personal... Read More

Cross Cultural Negotiations

Cross cultural negotiation is one of many specialized areas within... Read More

Can a Service Be a Commodity

Well Enron dealt with this a little for instance an... Read More

So Whats Your Argument?

Arguments aren't always bad things. Sometimes They're used to convince... Read More

Neogtiation: How to be Right Without Making Other People Wrong

What exactly are we trying to accomplish by proving to... Read More

Lets Make a Deal

Smart buyers will always ask for a better price. Unfortunately,... Read More

Negotiation: A Compromising Position

Negotiating is a hot topic these days for a good... Read More

Negotiate Like a P.R.O.

Whether you're negotiating a peace settlement in a war-torn country... Read More

How To Make An Inflexible Bureaucrat See You As A Person

Inflexible Bureaucrats Are Characterized by:1. Cares little about your happiness... Read More

Secrets of the Trade Revealed: Bartering for Business

In its simplest form, bartering involves an equal trade. One... Read More

Negotiating Tactics: Don?t Let ?Good Guy ? Bad Guy? Control the Sales Negotiation

Counter one of the classic negotiating gambits by addressing it... Read More

Where to FIND the BEST Employees --

Obviously, you might logically say, "that is good!" You would... Read More

Ask for More - You May Get More

If you are involved with sales, how do you feel... Read More

Negotiating: Forcing vs Compromising

Forcing is a hard-nosed approach that makes heavy demands from... Read More

Managing Conflict, in Life & Work: Using Ancient and Modern Approaches

"Conflict" is a word that can have varying degrees of... Read More