Top Tips for Negotiation

We negotiate every day, throughout our life. Be it the work your manager assigns to you or the price of a jam at local farmer’s market. A child negotiating with parents for a toy and an old man negotiating for a discounted rate, we negotiating at every age. Negotiation is such an important thing. Have you ever negotiated your salary with your manager?

When it comes to negotiating, there are things that we can all improve. In fact, the key to successful negotiation is effective communication. How can we get better at becoming effective communicators? Below are some tips to help you do just that. If you follow the tips suggested you will be a better negotiator in no time at all.

Prepare to Walk Away

To me, this is the most important tip. If you’re so attached that you can’t let a chance go by, it’s so hard to negotiate anything in your favor. The moment you start thinking about losing the opportunity you lose the upper edge. Always have option to fall back on. When negotiating for a higher pay, do have offers in your back pocket, only then can you show you deserve the raise.

Do not cave in to other side by showing that you are too eager to strike a deal. Keep your options wide open, show the other person that the deal is just another one for you. The moment they sense that in you, they might start giving in.

(See also – 10 tips for negotiating lower rent)

Listen First

First and foremost, we must really take the time to listen. Being active in your listening will help you open doors that might otherwise remain closed. Too often we assume we know what the other person we are communicating with is saying, or we are too focused on our own desires.

In order to be a good listener, take the time to ask questions and reflect back to the person what they are telling you. Doing so will make the other person trust you and, in turn, open the door for them to truly consider your concerns.

Find What You Have In Common

Always be on the lookout for things that you share in common with whom you are negotiating. Doing so, effectively helps you build trust with other people by tearing down defensive walls that they might otherwise keep up. It helps you de-escalate any potential for conflict because now the person is able to relate to you and see you as a friend rather than a foe.

Acknowledge Objections

No matter what is being negotiated, objections inevitably arise within the negotiation process. They can effectively shut down any potential progress you might gain within the conversation, or completely destroy the relationship you are trying to build.

By acknowledging a person’s objections, you are effectively making the other person feel heard in the discussion process. It also opens up the opportunity for you to counter their objection with discussion points that are more amicable to them in getting you what you want.

Do not Rush

When you rush there’s high possibility that you lose to a mistake. Learn from the not-so-affluent people. Even, giving in a few cents is a matter of great concern for them. They take all the time to get what they think they deserve. Have you ever gone to a third world market? You’ll never find a price tag attached to a merchandise. Price varies with the buyers. The better you negotiate better price you’ll get.

Take your time, do not commit mistake, discuss all option and explain your logic. Take time to seek opinions from people at your side, allow the other person to do the same. Make it an informed decision at the end.

Study the other side Well

Like a sportsman, scrutinize the other negotiator, before arriving at the table. Understand their situation, their expected expectation. if possible look for the historical result. If it’s price of an item, research what a typical price is. If it is for a salary at a new job, go to Glassdoor, research the pay range prevailing at the company.

When an advertiser contact me for placing their content. I do research the market rate of similar content on a similar blog. I do ask other bloggers on what to expect. I try to gauze if they have placed similar content on other blogs.

Only when you know the situation and expectation from your opponent, you can set your target.

Goal: A Win-Win Solution, Not Winner Take All

Be willing to make concessions. The goal of negotiation is not to get everything you want. Sure, it would be nice, but the world doesn’t work that way. If you want to win at negotiating, you have to be willing to accept that you won’t get everything you want when it comes to the discussion process. Successful negotiators win by knowing what they can get versus trying to get what they want.

Remember: negotiating is a two-way street. Listen, relate, but don’t be afraid to speak. And most importantly, come prepared at the negotiating table!