Negotiation Information

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


MORE RESOURCES:

Preconditions do not work; try 'preparations'
The Free Lance-Star, VA - 18 hours ago
But the negotiation itself, which may lead to a mutually acceptable treaty, always includes compromises by each side. Therefore, it is illogical to torpedo ...


Telegraph.co.uk

Citi Ends Negotiation with Wells Fargo on Wachovia Transaction
WELT ONLINE, Germany - Oct 9, 2008
Citi announced today that it had reached no agreement with Wells Fargo following several days of discussions about matters related to Wachovia. ...
Citi ends negotiation with Wells Fargo on Wachovia The Daily Deal (subscription)
Half-Time Lessons From the Battle for Wachovia New York Times Blogs
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National Post

Talking To The Taliban
Times of India, India - Oct 10, 2008
The Pakistani parliament has held an in-camera joint session and news comes in of a negotiation between the Taliban and the Hamid Karzai regime mediated by ...
Talking to the Taliban – yet again guardian.co.uk
Ex-Pakistani PM Seeks Role in Afghani Peace Talks Asharq Alawsat
Can it make peace in the wider region? Economist
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Rudd to use surplus to battle slump
The Australian, Australia - 9 hours ago
Mr Rudd said yesterday the financial crisis meant he was facing a more difficult negotiation with the states over the funding deals. ...


Nearly As Far-Fetched As The Maverick Lie -- Negotiation Preconditions
Huffington Post, NY - Oct 6, 2008
First, it's either naive or a fabrication when McCain suggests Obama will suddenly pop up at a negotiation with the leadership of Iran. ...


Washington Post

2008 Scholar-Statesman Award Dinner
Washington Institute for Near East Policy, DC - Oct 10, 2008
I don't think one can hide behind negotiation. I think negotiation has to be part of the process. Satloff: As somebody who lived through the threats of ...
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Tehran Times, Iran - Oct 11, 2008
The first response was that Iran was accused of being angry and not inclined to negotiation, whereas the main point of this letter was an invitation to ...


Conway Development Corp., HP finalize agreement
Log Cabin Democrat, AR - 8 hours ago
Attorney Bill Adkisson, chair of the CDC board, was involved in the legal negotiation, along with attorney Gordon Wilbourn of the city bond council, ...
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Columbus Dispatch

Fluidity needed in school negotiations
Mirror, MI - Oct 9, 2008
There are some daunting realities built into the negotiation process this year that haven't been seen in past negotiations, one namely being the economic ...
Kaneland teachers plan demonstration Geneva Sun
Teachers' pay raises based on years, not performance Columbus Dispatch
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Gulf Times

‘Replace capitalism with Islamic system’
Gulf Times, Qatar - 10 minutes ago
Mishal, the Damascus-based chief of Hamas Political Bureau, raised doubts about the possibility of reaching any settlement with Israel via negotiation. ...

Negotiation - Google News

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