If you want to learn how to negotiate, this is critical. First, decide if the negotiation is worth it. Negotiations must be “win-win.” Do not accept unfair negotiations. Also, do not allow disrespect or any infamy within a negotiation.
How to negotiate: 7 ways to do it efficiently
My key learnings:
1. If you are at a disadvantage
Gather as much information as you can so that you are well equipped as much as you can in the negotiation. This way they are far less likely to catch you by surprise. Also, to help you figure out more quickly if the other party is being unfair or misleading.
Use the knowledge you have about the situation to think in different directions towards where the negotiation could move. Counting the objections that the other party might raise. The more you understand the position of others and what they are looking for, the easier it is for you to have clarity about how the negotiation will be. Besides knowing if you will be able to get what you propose or not.
2. Take advantage of stereotypes
If you are in a bias situation due to stereotypes, you could use this as an advantage. For example, if you have just left university and are a scholarship holder, we might think that you don’t have much experience and you are not ready for negotiation. You should show otherwise. When you overcome preconceived notions, you win the game, always.
3. Active listening
When you listen actively, you are completely immersed in what the other person has to say. That instead of waiting to say what you are or what you should say. Active listening in negotiation can help you emotionally link with the other party. In addition to learning new things about your goals and being more understanding. You can also establish commonality and make things easier. Usually, when one or more people enter into an abusive process within a negotiation, they are worried about something. They feel as if what that person (or company) seeks, will not be granted or achieved. That is why discovering what these aspects are by actively listening is the key. Looking for those emotions behind language can help you have the power to see what motivates the other party. How to negotiate efficiently starts here.
4. Sharp Questions
Avoid questions that can be answered with a “yes” or a “no.” Sharp questions require long-term, detailed and very rich answers to fundamental concepts that we want to know. That may lead to uncovering more information that we can use in the negotiation.
If you ask yourself “Am I looking for a profit at the same height as the other party?” You will get a yes or a no. However, if you ask a sharp question like “What are the benefits I’m looking for versus the benefits that the other party is looking for?” This is another thing when it comes to negotiating.
5. Emotional Intelligence
When you enter into a negotiation, it assumes that the two parties are going to look for ways to be logical. If that is not what you see and feel, it helps the other party to get there (and you too). Perceived unnecessarily egocentric or emotional or too false behavior, will get you out of the negotiation.
If you feel that the negotiation is being diverted or you are being treated poorly, remember the “restart” button. Plan to paralyze the conversation and take it back to another place at another time, another day. Or even resume when each party collects more information and assess factors and vital points. Pressing the “pause” button on a negotiation that does not work favorably for both sides is an opportunity to start over to try to achieve a better outcome.
7. The limit
Ask what you want to know, but know your limit. If you don’t do that minimum essential parameter, you will lose the power in the negotiation, because you won’t influence being able to know where to stop. Knowing what the maximum or minimum you can pay for something will help you decide what times you should give up or go for it.
An extra on how to negotiate: In a negotiation, you always have more control than you think you have. Discard any bargain that is “lose-win” or even “win-lose.”
Knowing how to negotiate is critical for almost every person who lives in this disruptive economy.
Photo credit: El Confidencial.