Weâ€™ve talked about how SELLING is a big part of life. Like how you sell yoursekl at job interviews and how you can convince your wife or your husband on what restaurant to eat at. Another big part of this is negotiation. My example about where to eat can become a negotiation when your partner counters with a restaurant that he or she prefers. You then say the good points why your choice is better and then list all the bad points about the counter proposal. You then reach a compromise to eat at a totally different restaurant that you both like. Selling and negotiations are connected to our lives, whether we like it or not.
For business owners, negotiations is deeply rooted into their psyche. An entrepreneur interacts with different people, all with different demands. An employee, who wants to get a raise, a supplier who wants an increase in payment., or a customer who wants to get a better membership package. With these scenarios, we can really say that itâ€™s necessary for businessmen to be master negotiators. Here are some strategies that you can employ in negotiations so that you can get a better outcome on your next deal.
The Devil is in the Details
itâ€˜s very important that you know every little aspect about the deal you are going to make. Let’s take it up a notch by really digging deep on the details. If you’re a busy boss who delegates information gathering to an employee, you might want to do that task yourself. Talking to a lot of people connected to your negotiation can bring you lots of information that can help you with your case. For example, you want your uniforms supplier to give you a better price. Before you negotiate, find out how the uniforms are produced or where it’s ordered. You might just find new and useful information that may change the tide to your favor.
Letâ€™s talk first about your vision, how you see your business after 5-10 years. You’ve convinced your partners and your employees about the future of your company, but do you have what it takes to convince other people? Because in some negotiations, you must show your passion and commitment to the other person youâ€™re negotiating with.
Being bold is more than making an outrageous offer. You should also possess the conviction and the confidence to believe in your offer to the point that the other party won’t have a choice but to give in.
Stick With It
To end, when we’re talking about outrageous offers, we’re not talking about one sided outcomes that will only favor you. You should always take into consideration the benefits that the other party should acquire. What I mean by outrageous and bold is that, a deal that hasn’t been done before, or a risky deal that will have fruitful outcomes. When you’ve made this kind of offer then stick with it with everything that you’ve got. If you believe that itâ€™s the only way for your vision to play out, then stay strong. This kind of tenacity might just impress the other party and make them agree to whatever deal you wanted.