3 Most Effective Negotiation Secrets for Success in Business

Most Effective Negotiation Secrets
Businessman and businesswoman shaking hands, close-up

Do you ever wonder why more socially adroit individuals rise to a higher level in business than more intelligent people? The answer is negotiation skills.  Lee Lacocca, the former CEO of the Chrysler car company once remarked – “You can have brilliant ideas, but if you can’t get them across, your ideas won’t get you anywhere.”  Check out these tips good negotiators use to get where they want to go.

The Best Negotiation Tips

“By failing to prepare, you are preparing to fail.”  – Benjamin Franklin

We have gathered the best tips with the help of my coursework writers who were good enough to provide the best advice for successful negotiations. Decide ahead of time what you will limit yourself to in the arrangement.  Then research the other side, understand their needs, as well as their strengths and weaknesses. Take advantage of the advice of subject matter experts and mentors. Never stop learning.

Remember About Timing

Timing is everything, and in negotiations, timing can be critical to your cause.  If you are in a strong position from a recent success or favorable review, you may press for a greater reward.  However, if your position is not as strong, you may want to limit your request to something more moderate.

It’s okay to let the other guy take credit for supporting your position.  Many of the most successful negotiators either don’t care, or don’t ever let the other side see they care who gets credit for a successful deal.  Make the other side think the solution was their idea.

Be patient, let the other side go first, don’t give sub vocal cues to your opinion.  Never interrupt, listen attentively and encourage the other side to “talk themselves out” before giving away your position.  These behaviors have the effect of making the other side feel understood and allows you to tailor your position to meet the mood of the negotiations.

Be Assertive

Life isn’t a fairy tale or a princess movie, nobody is just going to hand you the keys to the kingdom.  You have to be assertive and grab those keys with hard work and clever negotiation skills. As long as you have prepared an appropriate argument, ask for the moon.

The best negotiations end when both sides walk away from the table feeling like a winner.  But that doesn’t mean you or they are going to get everything you are asking for. Never accept the first offer.  Even if the first offer is better than you were expecting. Give the other side you best polite disappointment face and tell them no.  The negotiations may get spirited at this point, keep your cool and enjoy the game; you will gain the other side’s respect.

Don’t Deceive the Other Side

Never over promise, don’t lie, or give the impression that the other side will get more than you can deliver.  Trust is the glue that holds relationships together. Show the other side that you are committed to the enterprise and that you will deliver what you promise.  You should also expect the other side to commit with the same sincerity.

Unless you are running a charity, the problems of the other side are not your problems.  Many negotiators will play on your sympathies to gain an advantage. These negotiations are business, and the best bet is to always stay impartial and work towards a solution where both sides come out the winner.

Sometimes in business, the opportunity arises to do something that while legal is not ethical.  You need to stand by your principles and walk away if you are asked to do something you don’t feel comfortable with.

Final Thoughts

After negotiations have concluded, give a brief synopsis of the negotiations.  Even if the negotiations are not successful make sure that both sides clearly understand each other’s position.  This synopsis is also a great place to pick back up where you left off if there has been any misunderstanding. Always end with a handshake and walk away clean.

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