Negotiate a good deal with the help of 6 tips
What techniques do you think we need to learn to become a professional negotiator and negotiate a good deal?
One of the most exciting elements of management and leadership is a negotiation. The ability to negotiate is one of the most vital skills that have a significant effect on success and business.
We always negotiate for a salary increase with our boss, hiring, advertisement, and our resources with customers. Even if you work at a bank, you are negotiating, which is, of course, a one-way negotiation here.
Even the best negotiators get trapped sometimes during a negotiation. Learning its skills won’t be so easy, but in this article, we try to teach you six quick ways to negotiate a good deal.
1- Share the information to negotiate a good deal
Most people negotiation perfectly until the middle of the meeting, but then they become cautious. Maybe they think it’s a wise move not to reveal the information; not only it’s not suitable, but also it conveys your lack of trust. When you avoid sharing information in a negotiation, it has negative effects on the result (even if there is going to be a result)!
Researches have shown that sharing information (even the ones that are not relevant to the negotiation process) has better results. Of course, we don’t need to reveal all our secrets. We can begin with simple ones: our dilemmas, thoughts, dreams, and hobbies can be practical to negotiate a good deal.
2- Define your priorities
Usually, when you start a negotiation, you know what issues are more important to you. It’s best to organize and rank them. For example, if you negotiate with a customer, you can speak frankly and say how much money and the price mean to you. Now if the customer doesn’t agree on it, there will be no negotiation at all.
A similar way which I suggest is to organize your options. You can write down the options on a flexible paper (to change them whenever you want). Also, you can compare your sheet with the other party. For example, in the case we mentioned, if the customer doesn’t agree on the price, we can check all other options, see if it’s still worth it to have a deal with this person.
3- Know the value of the deal and go forward hopefully
Imagine an auction. You have to start naming your price. But we mostly let the other party start. It is a huge mistake. It’s better to say your offer, hopefully with self-confidence, and wait for the process to run around our offer.
A vital point here is that the price we mentioned doesn’t come out of thin air. You had to have previous researches, and you need to analyze the situation. When you have enough information, you will have more confidence to offer your price and negotiate a good deal.
4- The first offer is yours
It is not a common tip, but in some negotiations that the information for both sides has the same value, it’s better to gain info from your party before the process. Experience has proved that people who offer first with confidence have a better state than the other party.
Most people are not willing to do so because they think the person might go to someone else to make a deal. But the fact is that it hardly happens.
When you have a higher price, the customer starts considering the positive aspects of your product while less price means malfunction.
Of course, your first suggestion for a price shouldn’t be exaggerating and shocking! Be logical too!
5- Don’t defy your party
If you can’t offer first, you need to neutralize your opponent’s opposition. The arguments are based on the information we had for our first offer. We can use the info to lead the process toward our purpose.
It’s better to spend the first moments of a negotiation to test our offers and our opponent’s.
If the opponent’s offer wasn’t rational, we can easily let him know and ask him to refine it.
6- Calculated offers lead to a win-win situation
Both parties (the buyer and the seller) want to feel that they negotiate a good deal. But we don’t have to take the first offer on the table even if it is suitable for our purpose. We need to enter the next level and gain some advantages. If you accept the first offer, you can’t be sure whether you had the best deal or not!
When you enter the higher levels, you can compare other offers with the first one, and then you can be certain that you negotiate a good deal.