ALL negotiations involve two parts. The first involves things (such as the amount of discounts you are willing to offer), while the other part is about the person.
Negotiations are often used to get the things you desire and often neglect the benefits of the other party. A successful negotiation is one that builds a good relationship with the other party.
This week let’s examine some suggestions on how to achieve an effective negotiation.
Do not assume you have the upper hand
In any negotiation, never assume that the other party has a greater need than you do. Keep in mind that while you may have the best product or plan, if your attitude or price is not right, the other party can always go elsewhere. After all, nothing is irreplaceable.
Trust the other party
When you harbour doubtsabout the other party, it is difficult to establish any negotiation as you would be wondering what the hidden agenda is.
If you are willing to trust the other negotiators, you would find that they are more inclined to trust you too. They would see your sincerity and in turn be more open to state their terms and requirements.
‘No’ might be good news
In any negotiation, do not be dismayed to hear ‘No’ from the other party. If ‘Yes’ comes too quickly, it might mean the other party would regret the decision later or most probably you have been offered a deal
that is to your disadvantage.
‘No’ could actually mean there is still room for negotiation and it is a good thing as there is time for a more specific and detailed agreement which would later result in a more satisfying outcome.
Negotiation is not about offensive or defensive
Do not attack the other party while you are negotiating. Keep in mind that you are there to work out a win-win solution that would benefit both parties. If you are out to gain the best deal for yourself, no one would be willing to negotiate with you because that is not negotiation but taking advantage.
You should not put on a defensive stance either. There is nothing to be defensive about for a sincere negotiator would not think of attacking others. If you are being defensive, most probably you are strategising to be offensive.
Time out
When you feel that the negotiation is going out of control or the atmosphere becomes a bit tense, you can always call for a break.
Let both parties cool off so that the situation can become more relaxed. After taking a short break or rest, go back to the table and carry on with the negotiation.
Negotiation is not competition
There is no point comparing who is richer, who is the expert or who has a greater title. Negotiation is not about comparing or competing. It is about getting the most out of the deal for both parties.
Being greater in any area does not mean you will win in any negotiation. If you let the other party feel that you are not sincere about offering them a good deal, they can always turn to another party to get a better result.
Be honest about your desired results
In any negotiation, you need to be honest about what you wish to get out of it. State your expectations and let the other party decide what they can offer. Likewise, listen attentively to the other party’s expectations and try your best to work out a situation that can best meet their needs
and requirements.
If you learn to respect the needs and expectations of the other parties, you will find it easier to have an effective and fruitful negotiation.
There are times when some negotiations do not lead to the closing of any deal. Yet, if you are sincere and open, you would leave a good impression and the other negotiators would be willing to come back to you when there are other deals to offer.
Priscilla Hiu is a career guidance consultant of Gracia Management and a certified behavioural consultant of DISC Personality Profiling System, Institution of Motivation Living, USA and Extended DISC Personality Profiling System, Extended DISC Northgate.