Most people think of the ability to negotiate in terms of boardroom meetings and hammering out contracts. But the benefits from effective negotiation skills extend much further for everything from buying a house to convincing others to order out.
Contrary to popular opinion, negotiation skills are not about beating the opposition out of something. Effective negotiators are able to create win-win situations in which everyone walks away happy with what just took place. Aggressive negotiation as all costs seldom turns out well. The lack of goodwill generated by this can cause problems down the road.
Negotiating a deal which makes everyone happy is difficult, but this is exactly what makes excellent negotiating skills so highly valued. In business, the goal of a negotiation is to get the best deal possible for you and your organization. In doing so you improve your bottom line.
Most authorities in this area say excellent negotiators are always prepared and confident before a negotiation begins. By walking into an important negotiation with the fundamental knowledge that you know what you are doing means you can focus on the deal itself instead of worrying about whether you are being outmaneuvered by the other party.
Good negotiators are also very patient. They concentrate first on getting agreement on all the parts of the contract that the two parties have in common before they go on seeking for amicable ways to settle the other issues.
They also take the time to prepare good questions to ask to get clarity and understanding on each point as they go along, so that there is no confusion later.
The impression left after a business negotiation can also have significant implications down the road. How you conduct yourself is a reflection on the company you represent. Far from being a roadblock in future deals, the ability to negotiate will make people want to work with you.
Positive factors that enhance a negotiation include:
- Readiness to compromise
- Effective communication
- High level of knowledge in subject matter
- Willingness for a win-win solution
Want to learn more about how to negotiate successfully? Tonex offers Negotiation Training / Effective Negotiation Skills Workshop, a 2-day course that focuses on solving the problem and closing the gap between what both parties want.