All the deals, signed agreements, settlements and contracts have to get through the stage of negotiations. Each partner, client or, simply said, negotiator tries to make the most of it. It is obvious and natural. So how to improve your negotiating skills, make sure your meeting won't be a waste of time, how to clearly define and achieve your goals when negotiating with your counterparty? Let's point out some crucial conditions and list some tips to make your negotiation lead to a good and sweet piece of business.
Let's assume first that a deal cannot be struck if it's initially put in unfavorable conditions. The ambience in what your negotiation is supposed to be carried on must be engaging and likeable. Here are some basics, especially if the other person is your existing customer or a prospect:
- Trust is essential for any negotiation:
No matter what you think about the person you need to persuade, first of all he or she must consider you trusted and reliable. Even if issues arise during negotiations, your counterparty must feel your will to reach a compromise as a key to improve your relationship.
- Desire to cooperate with you:
One of the main aspects is making your prospect want to choose you and your product or service among the others. Providing facts and advantages that mark you apart from your competition will trigger such a driving desire.
- You client or partner must be objectively right (or just think he is):
So your goal is to convince him/her that cooperating with you is definitely the right decision. Not because you get this deal and earn money thereof, or this settlement is crucial for you, but because it's objectively fruitful irrespective of your personal interests.
Some eventual issues or difficulties (delays, transport, customs...) arising during your negotiation process, even if they might look possible or inevitable in the eyes of your potential client, must be explained and interpreted by you as futile technical and easy to arrange. Even if they really demand some considerable efforts from you (but not impossible though), your prospect or partner shouldn't know about that and must be sure that the benefits promised by you will be provided without fail.
Some useful tips for your negotiations:
Decisive terms bring up the rear. The key terms of your settlement or agreement must be preferably negotiated at the end of the process. The reason is simple: you will more likely get what you're after if you know each other as better as possible, as well as your competition (to learn at least if you really can compete and it's actually worth negotiating:). Try to find more about the main conditions, the discussion of which will be determinative for a successful negotiation. And finally determine what they want and if it really matches what you want before proceeding to the last fundamental stage of your negotiations.
Who breaks the ice? The best for you is if the other person makes
the first step, i.e. to see first the counterparty's offer and its terms. If it presumes some manipulating towards improving your advantages and increasing your benefits, you'll surely want to embrace it. The point of departure defined at the beginning of your negotiations will let you see whether or not you can change the parameters to reach your goals to the maximum.
The limiting case. Try to learn what are the utmost
conditions for the counterparty: what is the least the other person will
sell the product or service for, or the most that can be paid for
yours. So you can define for yourself what will be your minimum benefit
from this deal, rectify your offer, make an additional proposal or
response more adequately . But do it carefully and politely, make sure
not to overdo it: you mustn't look too greedy or not credit-worthy.
Define your goals. Before the meeting make it clear for yourself: what for and why you are negotiating, define the goals to reach and why they're so important to you, what you expect and what you're going to offer. Otherwise, you might risk to waste your time and that of your partner or client, as negotiating may happen not to be worth it. Such useless negotiations will harm your relationship and even your image, so try to avoid not being prepared for them.
Be competent. Your awareness is definitely a plus. On one hand it gives you the idea of the actual market situation, your competition and your advantages (hope they are: ) that will surely be asked for by your counterparty during negotiations. Your position and objectives will look more relevant. On the other hand, the other person will find your approach more professional, see your negotiating skills, and that will add more credibility to your offer and your behaviour in whole. Get comparables, consult people, read fresh news from your field of activity before you spring into action.
Don't drag out. The best way to understand that it's time to bring the
negotiation to a close, is to look if the other person is still interested in going on or not. Don’t let the meeting make him/her lose patience and desire to act positively. Over negotiating may even kill the deal. So even if you still have a lot to tell, see first if you will be heard and your partner doesn't look at the door or his watch.
So if you consider the above statements and tips, your negation will likely be fruitful and successful. Use them smartly and you'll make it!
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