THE ART OF NEGOTIATION IN LOCKING DOWN A BUSINESS DEAL TO YOUR ADVANTAGE

maverik

UF Member

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The art of negotiating is all about ridding off uncertainty with a clear offer and confident attitude.

An effective negotiation session is off to a great start when you begin from a position of advantage.

Below are salient things you need to do in order to have a successful negotiating process with a second or third party.

GATHERING of Information

Most often than not, a lot of people, when negotiating, make the mistake of giving a first impression of doubt and not really having a thorough grasp of the subject at hand. Once this impression hits the other party, you have lost the edge and they will exploit it to their advantage leaving you on the receiving end.

So irrespective of your methods or eloquence in speech, you have to be armed with relevant information to keep the other party in your track of confidence so that when you make a proposal, they have no choice than to agree to it.

HAVE Your Set Goals Prior to the Negotiation

You need to be clear about what you want to achieve with the negotiation. Write them down. It should be a short list of 3-5 points. They are like your compass for direction; else you will come off as some random opportunist to the other party. You have to be concise and effective.

PLAY To Your Client Needs, What Do They Want?

This is perhaps the most important thing you need to keep in mind. You need to know or find out what your client wants to achieve. That is what you tailor all your strengths to and around.

So you must make detailed research and discover what interests the other party, what their motivations are so you can leverage that when negotiating, and what are their goals.

WRITTEN Document Presentation

Don’t forget to get this done as it is crucial to the whole process. You do not want to bore your client with your only speeches and talks. At the outset, present them with concise and detailed written information on all your points and proposals so that the whole process will flow smoothly as you begin to discuss and make your speech while referring them to the written document.

By providing this document, you have laid a strong impression that you mean business and the other party will be willing to be sold. What’s next is to just present your propositions in the most convincing manner while putting their interests forefront and to your advantage.

Lastly, when sitting on a negotiating table, it is imperative that no single trace of self-doubt is noticed in your demeanor, you have to be the first client that you have already sold your ideas to and they (you) believe it completely.​
 

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