5 Types of Business Negotiation Strategies that Work

5 Tips to Win Any Negotiation

Tips To Win Any Negotiation

Negotiation is something most people dislike dealing with, but it is an important skill to acquire in your professional and business life. Some people lack the confidence to talk about money and others think it’s inappropriate, most cases they are right.

When it comes to doing business, most times you have to put yourself out there and do things that are not comfortable.

Some people are born as experienced negotiators. If you’ve ever bought a house or car, took on a new job, you have already dealt with negotiations. If you’re a timid person in any way on the topic of money, good negotiators will thrive on your weakness.

The most important part of your conversation takes place in the first five minutes. Whatever happens in the first five minutes you need to make sure that you present yourself worth it and be likeable so that you don’t shut the other party down? People buy from people they like! It’s that simple.

Start higher than what you feel satisfied with. It is better to start high and go down then to start at the bottom because you cannot gain back what you lost. Once you are at the bottom line there is nowhere to go.

In negotiating it is in your best interest to make the first offer. This sets the trend of the negotiation in your favor. Making the first move also shows you’re confident. Don’t be sold on something the minute you walk through the door. If you make this mistake there is no point to negotiating because you have already lost. Your salesperson sees this as weakness.

The other thing is that if it starts to go bad you can always use an excuse that you aren’t the only one with a financial decision. Make them think that you need to consult someone else to take the pressure off if you are a weak negotiator.

It is also advised to add more caffeine to your diet. The more coffee and soda caffeine you have the less likely it is that you will budge on your agreement. Caffeine also gives a huge rush and keeps you alert so that you won’t miss important details.

It is also necessary to convince the other party of a sense of urgency. Make them think they are on a time frame and time is running out. If it appears that your product is in high demand people are more likely to buy it. They think it is good if it is selling out.

Always ask for more than what you get. The catch line, “I think you can do better than that”, can go a long way in negotiating, it shows the other person you are not laying down accepted their offer.