Some people in business think that the most skilled negotiators adopt an adversarial and hostile attitude whenever they want to bargain for something they want. Others believe that agreeing to everything an opponent says is the only way to seal the deal. Avoiding negotiations is not a very smart way of conducting a successful business. In fact, in today’s competitive business environment it’s almost impossible to avoid negotiation. At some point you will be put in a position to bargain. We’re talking about a crucial skill here that can help your business thrive or fade into nothingness. Here are 7 steps to help you make the most of a negotiation meeting with business partners.
Negotiation = Marketing
It makes sense for the process of negotiation to be associated with great marketing. Basically, if you can master a sale you can nail a business negotiation, too. It’s all about your capacity to want to develop this skill. How accurate are your speaking abilities? Do you have the capacity to make your case without appearing shy or introverted in front of partners? These sorts of abilities are required for someone with basic marketing abilities to become a guru at business negotiation.
Start a Negotiation with a Goal in Mind
Before entering a business meeting, your objective must be clearly emphasized. What do you want, and how far are you willing to go to get it? Goals make us want to achieve more in our personal lives too. Be prepared for everything and don’t let opponents intimidate you with lower offers. Agree to compromise but walk away from a business deal that can’t help you attain your goal.
Enter Business Meetings Armed with Information
This is a crucial step in business negotiations. Every claim that you make has to be backed by rock-solid arguments. Otherwise your opponents will take advantage; they will do whatever is necessary to disarm you and make you feel insecure. However, nothing can beat the power of preparation. Aside from getting your numbers right, you should to a little digging on your business partners too. Check former deals they closed and find out more about their company mission. This will help you understand their perceptions a lot better.
You’re Worth It! Don’t Allow Them to Get Under Your Skin.
Negotiations are tough, especially in today’s competitive business environment. Not all people are honest when it comes to closing deals, and some would do anything to win. As long as you can acknowledge your worth, they won’t be able to harm you. Showcase your achievements and be proud of what you have attained in business. The more confident you are the better chances you have to demonstrate that you’re a valuable asset they should have by their side.
Related Article: 4 Key Negotiation Tips for Small Business Owners
Active listening can go a very long way in business. Rather than say useless things just to appear smart in front of counterparts, it’s best to shut up and listen. Write down the most important things your partners have emphasized, and bring them up when your time to speak comes. Show them that you actually care for what they said, and look for a way to build a partnership.
Have an Optimistic Attitude
Business negotiations don’t have to be adversarial. Aim high by leading with optimism. Help counterparts understand that what you’re offering is valuable. Talk about what you can do for their business, and help them visualize that a partnership with your company can help boost their bottom line too. Have an optimistic attitude all the way through and seek to engage counterparts with facts and figures that can lead to firm benefits.
Don’t Negotiate with Emotion
This step is debatable as some people perform better when they’re under duress. However, for the majority, emotion can interfere with their judgment; and when you’re feeling all anxious in a negotiation, your opponents will sense your anxiety. They will use it to get the upper hand. Control your feelings by remaining focused on the facts. Have a business-oriented attitude, and don’t deviate from the subject. This will keep you concentrated on the deal. If you feel overwhelmed, don’t hesitate and ask for a short break. Take a few minutes to relax and you will feel so much better and refreshed.
Author: Steve Brown is a professional blogger. Information credit to TheGapPartnership.com.
Published: May 21, 2015