Sunday, February 5, 2017

How to Negotiate in Business and in Life

Negotiation is a key skill in business, sales and in life.  90% of negotiation is based on people skills, so this is the key area to focus on.  Below are some key people skills to practice to become an excellent negotiator.

1.     Preparation in writing – Write down what you want from the negotiation.  Come up with as long a list of items as you can (ex. in buying a house - price, closing costs, furniture, home repairs, extra time, etc.) and what the high, medium, low and walk- away points that are reasonable for each point.  Keep track of your progress as you go down your list. Start asking for the most and settle as needed.   
2.     Ask if the other party is willing to negotiate.  If the answer is no, you do not have a negotiation.
3.     Ask the other party if they are willing to negotiate for a “win/win”.  If not, don’t negotiate.
4.     Most important of all make sure you make it clear that if you cannot negotiate today that you leave the relationship open to negotiate another day.  Do not ruin the relationship, as your future ability to negotiate with this person will be jeopardized.

Use the above behaviors to help you succeed at negotiations.  Practice it until it becomes a habit and you will become a culture-driven negotiator.


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