5 Habits of Highly Successful Negotiators
Negotiation is an art that anyone can learn
Negotiating is a term that is often used in business and personal contexts.
Negotiating can be as simple as bartering at a flea market for something you want or as complex as negotiating a contract or sale with a vendor.
Successful negotiations depend on how well you present your arguments, what you know about the other person, and how strong your position is.
Here are 5 practical habits of highly successful negotiators:
1) Build relationships with those you negotiate with.
2) Be flexible and adaptable to change.
3) Don’t talk too much and listen more than you speak.
4) Know what you want and why you want it.
5) Always remember what negotiation is.
Build relationships with those you negotiate with
Whether you’re negotiating a personal or a business issue, it always pays to build a relationship with those involved.
Building a relationship will help you understand the other person’s needs and wants.
It will also help you find common ground and create a foundation for a successful negotiation.
— What is your relationship with the other person?
If you’re negotiating on behalf of your business, make sure you have a strong understanding of what your business is looking for.
This will help you prepare your negotiation goals and success criteria.
If you’re negotiating on behalf of a personal matter, it’s important to clarify your goals and objectives. These goals should be achievable and measurable.
Regardless of whether you’re negotiating on behalf of your business or for yourself personally, building a relationship is important.
Taking the time to build that relationship will pay off in the long run with better negotiations and more successful outcomes.
Be flexible and adaptable to change
If you’re locked into a plan and it’s not working, you may want to consider changing it.
It’s important during negotiations to remain flexible and adaptable.
If you’re not, you may miss out on something better because you weren’t willing to change your initial plan.
For example, if you’ve been negotiating for a long time and your counterpart is getting tired, then it may be a good time to offer a compromise or a deal that’s favorable to them.
If they think you don’t value their time, they may not want to continue negotiating with you.
The same goes for during negotiations. If you see a prospect walking away from a deal, then it may be time to make concessions or rethink your position.
Don’t talk too much and listen more than you speak
Asking questions and listening is one of the most important skills in successful negotiation.
If you talk too much, you’ll reveal too much about your hand and give the other person an opportunity to read you and counter your argument.
Asking questions and listening forces the other person to talk more about themselves or their business and it gives you an opportunity to read them.
When you know more about the other person, you’ll know what they want and how to give it to them.
However, it can be difficult to stay silent and listen. There are a few things you can do to help yourself stay calm and listen:
Know your goal — before negotiating, remind yourself of what you want and why you want it
Stay calm — take deep breaths, count to 10, close your eyes, or focus on a specific object
Don’t interrupt — pay attention, listen, and wait for the other person to finish before speaking
Ask questions — keep them open-ended; this will help them talk more and reveal more of what they want
Focus on their needs without talking about your own needs or wants. When it comes time for a response, share what you want in a similar way.
Know what you want and why you want it
Know what you want and why you want it —
Know the end goal for this negotiation. What is your goal in this negotiation?
For example, are you trying to acquire a new client or are you trying to get a job offer? What are your end goals?
If you know your end goal, it will be easier to figure out what your priorities are when negotiating.
Recognize when to walk away —
If you’ve made it clear to the other party what you want and they won’t make the concessions needed for the negotiation to be successful, recognize when it’s time to walk away.
If the other party refuses to budge on their position, recognize that your time would be better spent elsewhere.
Keep an open mind—
Don’t be closed off to new ideas or ways of negotiating.
Listen to what the other party has to say and consider their positions.
Be an active participant in the negotiations and don’t just let it happen to you — participate!
Always remember what negotiation is
To be an effective negotiator, you need to understand human behavior, psychology, and how to use those things to your advantage.
Negotiating is not an easy task. It requires patience, creativity, and persistence. It also requires that you pay attention to the other person’s needs and wants.
Negotiation is not about getting what you want; it’s about getting what both people want.
So, remember that negotiation is about the other person as much as it is about you. And remember to build relationships with those you negotiate with.
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