Every person has been through at least 100 negotiations in their lives.
Whether you negotiate what you and your kids will eat for dinner, your salary,
or the next big contract, the process is almost the same. A good negotiator, in
today’s dynamic climate, can be the difference between a flourishing, expanding
company and a bankrupt one. Even though not a single company should have only
one major client, let’s face it, a big contract, a good client, can take your
entire business to a whole new level.
If you want to succeed in
this dynamic environment, here are 10 laws you should abide during your
negotiation process:
1. Gather
All the Information You’ll Need
Before you start the
negotiation process you should gather all the information you can about your
negotiation partner. You should know everything from their demands, to the
urgency of their demands, their alternatives, etc. If you don’t have all this
information you won’t be able to have a comprehensive image of the other side’s
position. Money should be your last concern. Why? Because, if the only thing
that you are able to negotiate is your payment, it means that you are unable to add value for your negotiation partner. For him,
you are just someone who comes in, does a job and takes him money. You should
be more than that.
2. Everything Is Negotiable
Let’s pretend you work in IT&C and you are
selling your services to a client and you are in the negotiation phase of the
process.
Your
client needs 4 apps to be done, but he must launch one of the apps in 3 months.
Meanwhile, you have other projects, as well, you decide to make him a deal. You
launch his app in 3 months and allocate a lot of resources to deliver it on
time, but you get a 4-5 month break to finish your other projects on time.
3. The 2/3 Rule
A
good negotiator knows that he should shut up and listen two-thirds of the time.
He shouldn’t talk more than 30% of the time. Why? Because you are there to get
all the information you can from your negotiation partner and use it in your favor. During this time, you should read between the lines
and ask lots of questions. Your partner might say “I need these apps launched
as soon as possible, one of them in as little as in 3 months.”. You know that
the first app is vital, but the other ones can be postponed, so you make him a
deal and postpone them by 4-5 months.
4. Quitting Is a Viable Action
Don’t
be too dependent on the constructive result of a negotiation. Clients come and
go, you should never negotiate something that’s not favorable for you. You
should be able to say NO and walk away, your negotiation partner will feel
that. You will be able to negotiate from a stronger position if he understands
this. It doesn’t mean that you should walk away from every negotiation, it
means that you should end up with a favorable result for both parties.
5. Never Rush Things
A
slower negotiation process means fewer mistakes,
fewer chances of passing over some important information. Apart from that, if
you slow down the pace of the negotiation process, you might make your
negotiation partner feel that you are not in a hurry. This will make him offer
more incentives for you to say yes, leading to a better outcome.
6. Have High Aspirations and Be
Optimistic
If
you want to get $100 for your services because you know they are of
high-quality and your first offer is $100, you will never get that amount. You
should offer more than expecting to get in order to sell your services for a
better price. You should make an initial offer of $130 and, who knows, you
might offer some additional services and end up with a $115 sale. Pack yourself
with optimism, say ”I deliver high-quality services, I’m one of the best in my
field. This is the fair market price and a good one for me.
7. Play the Player, Not the Game
They
need your services, they are the ones who need 4 apps to be done ASAP. You are
here to help them out, not to get some money to survive one more day. Even
though they might seem laid back, they feel the pressure. If you play the
player, not the game, you will be able to use that pressure to your advantage.
8. Focus on Your Negotiation Partner’s
Needs
A
good negotiator is able to put himself in his partner’s shoes. He is able to
see and understand his needs, the same way professional essay writers understand their
clients’ needs. You
should focus on accomplishing his needs, rather than focusing on yours. You
should show him the way you are capable of fulfilling his needs. If his needs
are met, the negotiation process will run smoothly.
9. Put Your Feelings Aside
You
should never get offended by other’s conduct or point in question. You are
there to get yourself the best deal possible, not to get offended. If the other
one is swearing a lot and you don’t like that you shouldn’t say ”I don’t like
the way he talks. I’m out!”. Get over it and get that deal done.
10. Everything You Give Should Have a
Result
One-sided compromises are self-defeats. You shall never
say “Even though you need your app in 3 months, I’ll deliver it in 2. I want
nothing in return.”. No, the resources you allot for this can be used to
generate revenues while working for other clients. You should say ”I can
deliver it in 2 months, here are my demands.”
Conclusion
Even
though we’ve been negotiating our entire lives and we didn’t even realize it.
If you want to be a pro to this, you need to understand the basics of the
negotiation process. In today’s dynamic climate, as a negotiator, you can
make-or-brake businesses. By abiding these 10 laws of successful negotiation,
you should always come out as a winner.
About Author: Tom
Jager is professional blogger. He is the author of interesting Grademiners
review. He
has degree in Law and English literature. You can reach him at G+
or Facebook.