9 Rules for Effective Negotiation

You should learn effective negotiation skills for you to succeed in your business deals. Most of the time, you will have to deal with other businesses so that you can strike a deal. It is always necessary for you to try and negotiate objectively so that you can make the best out of the business deals. Remember any business will like to achieve the best. Your success in negotiation will determine your success in business. Here are 9 rules for effective negotiation:

 

1. Come prepared

You should take time and research on the items you are about to buy before you proceed to negotiate. For instance, you should know the market price so that you can negotiate objectively. If it is a business deal, you should research and know other service providers who can offer same services to your company and know the cost as well as other benefits. Enough preparations will make it possible for you to negotiate and strike the best deal.

 

2. Stay polite when negotiating

Negotiations should never be a battle at all. You should always make the event less tense. Both parties have a stake in the outcome hence you should always try to stay cool all through the process. If the deal is not working your way, you should not appear abusive instead walk away from the deal if it is not working. Your opponent should know you can as well take other options if it is not working well for you.

 

3. Avoid making the first move

If you don’t know the price of an item which you are about to start negotiating, then you should relax and let the seller make the first move. For instance, he can quote a given price from where you will start your negotiation. It is a strategic move you can make for you to avoid cases where you will quote a price which is too high for you to strike the best deal.

 

4. Get creative in your negotiation

There are several ways you can save money when negotiating. For example, if you are looking for a heavy item, you will need shipping services as well as installation. You can ask about free installation or even shipping services to be included in the price. You will cut down few dollars which will end up saving you money. It is a useful method for you to negotiate rather than going straight to the prices.

 

5. Let the opponent know you can walk away

Even if you need something so much, the seller should know there are other options, and you can walk away from a deal. If the potential seller knows you are capable of walking away from the deal, he will be ready to negotiate further. You should be careful when employing the deal. Make the seller know you are willing to buy, but if the deal is not good, you are also capable of walking away.

 

6. Have cash at hand

There are several methods you can use to pay. You can use your credit card among other means. But, having cash ready will show the seller you are willing. If you negotiate and reach a given price, show him the money with less some amount which you request for a discount. It will be easy for the seller to cut down on cost if he can see cash at hand.

 

7. Always Stay Cool

The negotiating table can be very intimidating. Other people can raise moods and appear harsh to you. They can act that way due to their lack of skills in negotiating. You should avoid becoming irritated to an extent where you will end up exchanging harsh words. Let the seller know you are ready to take some offers even if he becomes harsh. Staying cool makes you appear responsible which makes it possible for you to secure a deal.

 

8. Make your arguments and proposals strategic

You should avoid going to your lowest point where you can accept immediately. The bottom line will make you stuck which is not easy for you to increase your offer. Start from a point where you can go down if you are a seller and a point where you can climb few steps if you are a buyer.

 

9. Employ emotional motivation for the other party

There are some offers which will motivate the other party to agree, try to use the emotional motivators so that you can have a head start in your negotiation.

 

References:

http://blog.emyth.com/10-steps-to-effective-negotiation

http://blog.emyth.com/10-steps-to-effective-negotiation

9 Rules of Negotiating from the High Ground

http://www.quickanddirtytips.com/business-career/communication/9-key-rules-for-negotiation%E2%80%94from-a-marine-turned-investment-banker

https://www.entrepreneur.com/article/225537

Leave a Comment