Negotiating is a part of everyday life. We negotiate with our children, in our work, with our friends, and even our family members. Some tips to ensure that your next negotiation is a positive one.
Successful negotiators are assertive and challenge everything. They expect that everything is negotiable. So be prepared!!
Listen to everything that is being said. Good negotiators ask probing questions and then remain silent. So be sure that you pause, listen and clarify what you think you heard. Your client will tell you everything you need to know – all you have to do is listen.
Be prepared and ensure that you gather as much valuable information prior to the negotiation. What are your client’s needs? What pressures do they feel? What options do they have? Do your homework, it is vital for a successful outcome.
Aim high: People who aim higher do better. If you expect more, you’ll get more. Successful negotiators are optimists. A proven strategy for achieving higher results is open with a solid position. Ask for more than you expect to receive. Always leave yourself with some wriggle room!!
Have patience; ensure you have provided all the information to help your customer make a decision
Focus on helping your customer; confirm how your product or service will help your client solve their problems; remind them what is unique about your business. If you are not laser-focused on what your USP is, then it’s going to be all about price and nothing else, and that’s not where you want to be in any negotiation.
Allow your customer to talk first, in doing this they will let you know what they think of your offering. So hold back, as you may not have to give away as much as you think.
Whenever you give something away, be sure that you get something in return. “I’ll do this if you do that”.
For successful negotiation, aim for a win–win outcome. If either party feels hard done by, it’s not a great start to any new business relationship.
Sometimes we have to walk away, so always be aware of that. Ask yourself this question, is it a good business decision?
It’s also worth remembering that at the heart of negotiation, your own communication skills and style will have an impact.
Deliver a proposal that meets the budget you have been given. Then include an out-of-budget idea, and present that as an option. If the idea is strong enough, clients will find more money, try it, and let me know how you get on.
Best of luck.