Whether it is buying a product, charging a client, rescuing a hostage (well, kindly leave that to the pros), or asking for a raise, you will need to be able to negotiate better so that you don’t end up paying way more or way less than is supposed.
The goal here isn’t to cheat people, but to get what we want not while putting other people’s wants or needs into consideration too. That allows fair game, which is not bad.
If you can work diligently on increasing your ability to negotiate better, you will find it easier getting what you want almost always. And in this article, we will be showing you just how to negotiate better with absolutely anyone.
1. Establish the least you can accept, or the highest you can offer
This could also be called your break-even point. You need to establish this because humans have that tendency to regret decisions made. You may just accept a deal that is really not in your best interest if you don’t have a break-even point.
2. Don’t negotiate under pressure
Pressure is not good for negotiation! One mistake people make is that they let their nerves take control. They grow impatient in the negotiation process that they just automatically want to close the deal. Pressure can be sensed easily. And can give room for the other party to stand by a bad offer, just because they know that you’ll give in eventually. Never feel rushed!
3. Use Silence as a Tactic
You don’t need to talk all the time. Most times, what we just need at some point is a little silence, and that can go a long way in mounting pressure on the other party, while you maintain control. You may have found just the perfect product, maybe something you have been looking for forever. Keep your cool. When the other party perceives the product’s worth to you, they can use that to their advantage based on the perceived attachment you seem to have on the product.
4. Find commonalities and keep things light
You could go off the basis of your negotiation and discuss something you both have in common for short while you come back to the main discussion later. It may be sports, dogs, or politics. But don’t forget to keep things light. This makes the other party more relaxed with you and is also a great way of creating rapport which would definitely work in your favour. A little joke here and there could also serve the same purpose.
The major skill that helps you negotiate better is listening. Most times, a lot of people make the mistake of talking incessantly, but it shifts power to the other party, as you look like their approval or confirmation is the most important factor in ending the negotiation. There are a lot of benefits that listening to the other party brings;
- Listening Builds trust.
- Listening makes both parties feel respected because sometimes, the other person may just have something to say, while you deny them that opportunity when you just want to fill in the silence with at times, irrelevant and may be repeated information.
- You learn valuable information could help you structure your proposals effectively.
6. Make both parties feel on the winning side
Now, this is a very intricate skill to master, but it’s very effective in moving the hand of the other party to accept an offer. This is a big reason why you have to do your homework first. Know what the other party likes, dislikes, and what pressures them so that you can pull this one off.
A great way to get this done is by asking something that is valuable to you but doesn’t cost the other party much. An example is making a deal with a company that produces phones. And let’s say that they offered you $40 for a particular service while you charged them $60. You could come around to an agreement that you’ll accept the $40, and a phone worth $30.
Because since the cost of producing the phone would be definitely less than $30, it’s worth $30 to you, because that’s how much you’ll buy that on a normal day. So, they’ll be more likely to accept that offer because that phone is worth less than $30 to them. Voila! You have successfully struck an agreement, having two winning sides.
You could also offer to accept the $40 but ask for a discount on all your subsequent purchases in that business. It works just as well.
Read Also: How to sell to anyone, anytime, anywhere.
Negotiating is a complex skill to master. It takes a lot of practice. You may just want to start negotiating big deals, but you could start with very little things like clothes, shoes, or some other petty stuff around you and then work your way up. It takes a whole lot of practice to master negotiating, but it pays off in the long run in easily getting you what you want.
What tips have worked very well for you? What important tip did we miss? Share it with us in the comment section.