Good Morning Everybody! I hope you enjoyed the holidays and are looking forward to the turn of the New Year! To be honest, I can’t wait! I know this year there’s been many downs and ups, but all we can do is look forward to tomorrow. So, with that being said, I wanted to bring you something I wished I learned early on in my career, its The Art of Negotiating, Importance, Tips and Tricks. Let’s begin.
We negotiate all the time – whether it’s for something less life-changing yet important like deciding where to go on the next family holiday – or something big like closing a business deal or buying a house. Almost all interactions are a negotiation. With improved negotiating skills, you can get better results in all areas of life – family, friends, business – and strengthen your relationships.
What is The Art of Negotiating?
In layman terms, a negotiation is a discussion between two or more parties that must collaborate in order to achieve their respective goals. Negotiations require a give or take by all parties involved to attain a mutually beneficial result. In business negotiation however, your goal should be to maximize the meeting of your interests.
Why is Negotiation So Important?
Negotiation is critical for any group project, no matter whether it’s an email campaign or a picnic. Mastering the art of negotiation can offer several benefits, including the ability to better understand how interpersonal skills can ensure success, work more effectively with individuals/groups of different cultures, and the knowledge and experience to create strategies to deal with challenging situations.
Negotiation Skills You Should Learn
Having the right set of negotiation skills is crucial. The negotiating will be more fruitful if you are armed with the following skills:
- Preparation: Always go into a negotiation prepared. No negotiation skills will help you if you don’t know the context.
- Listening: Active listening is crucial as it allows you to hear not only what the person is saying but how they are saying it.
- Communication: Being a strong communicator is a mandatory skill for negotiation as it allows you to get your message across effectively and clearly.
- Staying Calm: Emotional outbursts in a negotiation show the other party that you are no longer in control. So, it is important to stay calm.
- Collaboration: Not every negotiation is an “us versus them” situation. Most of them are generally a kind of collaboration where two parties work together to find a way to mutual satisfaction.
- Decision-Making: Negotiations end. The skill of deciding when to stop is crucial to ensure that the negotiation is closed successfully.
Having the above-listed skill sets is just the beginning. You want to be able to put those skills to work. Following are some tactics you should employ:
Don’t Think in Terms of Winning
If you enter a negotiation thinking that you are going to win, then you have already failed. As mentioned before, most negotiations are a form of collaboration and not “us versus them” situations. So, it is recommended that you have a clear picture of what your objectives and goals are.
Think of the Other Party
It is good to consider the goals of the other party as it can help address the give-and-take aspect of the negotiation. It can help cut to the chase and ensure that you earn the respect of the other party, creating the collaborative atmosphere that’s crucial for negotiation success.
Don’t Assume, Clarify
It is recommended that you ask the other party what their motivation is. Clarify your view of the negotiation at the outset and ask them to do the same.
Don’t Make Threats
It is common for a negotiation to get heated. If this happens, try to be constructive as getting emotional or making threats doesn’t help one bit. Remember, it’s self-destructive so don’t threaten to walk out. Stay professional.
Negotiations can be unpleasant and draining. The ability to negotiate successfully can make the difference between success and failure. That’s why it is recommended that you follow the guidelines listed above. You can go pretty far with these simple strategies.
In summary, The Art of Negotiating, Importance, Tips and Tricks was made for those with little to no experience or need a quick refresher on the importance of this subject. Negotiations can happen at any moment where communications and conversations are being held. Doesn’t matter if you’re at your job, at home, or in the field, every conversation is a give and take. Let me be clear, negotiations and manipulation are two different things and one should be wary of always keeping your integrity where it should be. If you find you need more help, check out our quick guide on communication. “Til next time”-The Black Sheep