LEARN HOW TO NEGOTIATE WITH
THESE TACTICS
Posted by: Team Tony By
special guest author Keith J. Cunningham
Most
people never get training in the key concepts of negotiation, despite it being
an essential skill in business and in life. We are constantly negotiating – to
get bigger, better deals in our favor – and to do so we must learn how to
approach it from a position of power.
In How I Do Business,
I took my years of studying and direct experience in negotiation and translated
it into some base components, breaking down what it takes to become a great
negotiator and the pitfalls to avoid. Whether you’re a novice to the art form
or an accomplished negotiator looking to augment your skills, you can always
learn more techniques to take your business
to the next level.
WHAT IS NEGOTIATION?
A
negotiation is a discussion between two or more parties that occurs as they
attempt to reach an agreement.
Successful
business negotiation tactics often mean maximizing the meeting of your
interests. You are striking an agreement with another person, and while you
want this agreement to benefit both parties, you also want to get the
most out of it.
However,
in order to get the most that you can, you must also meet the other person’s
interests. Yes, you want to walk away from the negotiation feeling like you’ve
“won,” but those you’re negotiating with need to feel that way, too. If one
party emerges victorious, then it’s not really a negotiation – it’s a
disagreement.
HOW TO NEGOTIATE
There are
three critical components to every negotiation:
1. REQUIREMENT
Each
party wants something from the other. It’s the entire reason for the
negotiation. If you are negotiating a new job, then your prospective employer
wants you to work for them, and you want a paycheck and benefits in return.
2. AGREEMENT
Both
parties care about the outcome. There is an inherent desire to win, but that
desire does not come at the expense of the other party. Look at it as an effort
to solve a problem.
3. AN EYE ON THE BIG PICTURE
What part
of this discussion matters most to you? For example, if you’re negotiating salary and
benefits for a job, you may be willing to forego an extra
$5,000 a year if you can get 10 days of paid time off.
As you
work your way through the potential agreement, understand that negotiating
power comes from a point of interest – the thing that drives you,
or the goal you desire. Why do you want this thing, and why do you
deserve it? You must approach each negotiation knowing what you’ll achieve by
obtaining this agreement.
Remember
that negotiation tactics largely revolve around conversation. If we continue
using the example of a new job and its salary, then there will likely be
numbers tossed around and emails exchanged. But the bulk of your efforts will
be centered on talking to the other person or people.
This is
not the time to steamroll them with your opinions. You want them to see your
point of view, but you also want to listen deeply and learn
theirs. Understanding how they are approaching this conversation and
why they want what they want will help you build your own case.
NEGOTIATION TACTICS
There are
a few strategies you can apply when you’re heading into a negotiation.
1. WATCH YOUR POSTURE
The way
you stand or sit conveys a great deal about your present state of mind.
Slouching makes you look insecure or like you don’t care; fidgeting signals to
the other person that you’re nervous. Sit up straight and keep your body angled
toward the individual you’re negotiating with.
2. PRESENT YOURSELF WELL
Showing
up to a negotiation in a T-shirt and a pair of shorts might work for a handful
of people, but it likely isn’t a tactic you want to try. Show up to a
negotiation the way you would show up to most job interviews, in clean clothes
that fit well. Feeling good about your appearance can go a long way in feeling
good about a situation.
3. DISPLAY CONFIDENCE
You
can create confidence even
if you don’t feel particularly confident in a given moment. By appearing sure
of yourself and what you’re asking for, you convey a sense of certainty to your
opposing party. That certainty can persuade them to see the situation from your
side, giving you the advantage in the negotiation.
Next time
you are stuck on how to negotiate, remember that at its heart, negotiation is
an effort to solve a problem and reach an agreement. By better understanding
your opponent and working with them instead of against them, the chances of
everyone getting their interests met go up dramatically, resulting in a
successful negotiation.
About the
author: American entrepreneur, international speaker and acclaimed author,
Keith Cunningham is regarded as one of the foremost authorities on business
mastery. With more than 40 years of business and investing experience, Keith
has taught critical business skills to thousands of top executives and
entrepreneurs around the world.
Keith is
the author of Keys to the Vault: Lessons from the Pros on Raising Money and
Igniting Your Business. His newest book, The Ultimate Blueprint for an Insanely
Successful Business, reveals Keith’s core business principles, including why
“great operators get tired and how great business owners get rich.”
Team Tony
cultivates, curates and shares Tony Robbins’ stories and core
principles, to help others achieve an extraordinary life.
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