Negotiating can be a tricky business unless you have some good tools to use. Here are some of the best negotiation strategies so that next time you’re buying something, you can not lose!
1. Preparation. This is one of the most important parts to any negotiation. If you know much about what the other party might do, you’ll be steps ahead! Get prepared for any counter argument and remain logical. Using emotion to manipulate during a negotiation shows ability, but it’s fairly unprofessional. Make sure you’ve got all your counter arguments in order so that you can bounce back quickly if things are going badly. Also, make sure you know as much as possible about the subject being discussed before you go in!
2. Stick to the point. This is the key to any negotiation and if you use this strategy you cannot lose. Often times people will try to bring in other factors that, although they’re often important, they will open up the door to negotiating for other things. This is something you absolutely want to avoid. Stick to the point and don’t let the other party bring up any other points that are not valid. If the conversation goes in a different direction, simply acknowledge that the point exists, but it’s not relevant to the point of the discussion. Bring the conversation back to the point as quickly as possible and avoid distractions.
3. Give and take. This is a win-win strategy that if you employ will give you credibility and also potentially create a long-term relationship. Often when negotiating you’re already in some kind of relationship, and the outcome of the negotiation will determine where you go from here. So if you win some aspect of the deal, it’s a good idea to make sure the other person also gets what they want in some way too. This way you both get better from the experience, and you can go ahead to come back to do another negotiation later!
4. Define what you want clearly. If you know what you want, you’ll be more likely to get it. Ask yourself (or your client) what you want to achieve and define it clearly. Then ask yourself “How am I going to get it?”. These to questions will be the centre of your argument and define your approach. Stick to the point and make sure you are professional about it.