Negotiation is a technique employed to avoid conflicts and decide something which would benefit all. Individuals negotiate with each other and try to reach to a solution satisfying all. Negotiation is not possible unless and until individuals learn to compromise to some extent and stop finding faults in each other.
Professionals must know how to negotiate well to successfully close deals, avoid conflicts, better relations among the employees and making the organization a better place to work. An individual spends his maximum time at his workplace and thus it is important that he is relaxed and tension free here for better concentration and output. If you do not agree with your team members, do not fight with them, it is always better to negotiate and find out a solution which would make you as well as them happy. One canâ€™t afford to have enemies in his organization, thus negotiation is really essential in corporates.
Let us go through some handy tips for professionals for a successful negotiation.
Preparation - It is essential that an individual prepares well for negotiation. Remember if your company has chosen you for the negotiation with an external party; they must have noticed some spark in you. No way you can let them down and must try hard to live up to the expectations of your superiors as well as your organization. Accept the challenge willingly; donâ€™t accept anything out of fear. You will never be able to do anything great. Go through all the relevant details carefully. If you are not clear with anything, do clarify with your superiors beforehand rather than going for a negotiation with a doubt in your mind. If you yourself are not clear with the details and facts, you would never be able to convince the other party.
Stay alert - Keep your eyes and ears open during negotiation. Remember the other party would try hard to convince you and impose their decisions on you. You donâ€™t have to fall a prey to the other party. If you are not in a mood to negotiate, it is always better to postpone it rather than messing up things.
Confidence - Confidence is the key to an effective negotiation. A professional needs to be confident enough to make his points clear in front of the other party. The other person can ask you anything and you canâ€™t afford to be nervous in front of him. Be intelligent enough to answer all his questions. A confident person always leaves his impression on others and people look up to him.
Be cautious - Be very careful with your paper work. Study the papers carefully and do take all the necessary documents along with you when you are going for any negotiation. Prepare the necessary agreements and contracts well in advance and leave space for the terms and conditions as well as signatures of both the parties. These formalities ought to be done once the negotiation is complete.
Avoid delays - One should always reach for business meetings on time. Donâ€™t keep the other party waiting. If the time for the negotiation is 10 am make sure that you are there at 9.45 am. Time is precious for everyone and one should make the best use of it.
Understand the other person well - For an effective negotiation, it is important that you understand the needs and expectations of the other person as well. It is natural to be more concerned for oneâ€™s own things, but one must not also ignore the other personâ€™s interests as well. Remember he has also come for business. It is important that both the parties are involved in a healthy discussion on an open forum and evaluate the pros and cons of the plans carefully to decide something which would be beneficial to all. Never underestimate anyone. Make sure that everyone is happy after the negotiation. No one should complain.
Donâ€™t cheat anyone - One should be honest during negotiation. One should speak only when he is sure about it. Donâ€™t depend on guess works or assumptions. They donâ€™t work in professional scenarios. It is unethical to fake things or manipulate truth. One should be honest in his dealings for a fair negotiation and to avoid confusions later. You will not gain much out of lies and dishonesty.
Always have an alternate plan with you - If your plan A fails, make sure you are ready to present your plan B. An option is important. You should not rely on a single plan. You never know which plan would click with others.
One must know the purpose of negotiation - Why do you think you need the negotiation? One should be clear about his expectations from the negotiation. The agenda of the negotiation must be clear. Make sure you have realistic expectations. Donâ€™t ask for something which would incur a loss to the other party. Please donâ€™t expect impossible things to happen.
Donâ€™t get too involved in the negotiation - Do learn to keep a control on your emotions. One should not take any decision out of emotion. Donâ€™t tend to ignore things just because you are dealing with your friend. Professional life must be kept separate from your personal interests. Give more priority to your work.
Maintain the decorum of the place - Donâ€™t use foul words or abusive language against anyone. Never insult anyone. If the second party is not convinced, discuss with him but never stoop to derogatory acts. That is absolutely unacceptable.
Be a good communicator - Clarity in thoughts is important and ideas must be communicated clearly to the other person. Donâ€™t try to confuse others. Make sure you donâ€™t adopt a casual approach. Use relevant words. Add professional jargons and corporate terminologies in your speech. One should be careful about his pitch and tone as well. Pitch should neither be too high nor too low. It must be audible to everyone.
Be patient - Negotiation needs time and one ought to be patient enough to interact, understand the second party and make his points clear. Donâ€™t try to wind up the negotiation quickly. Never impose your decisions on others or rush for conclusions.
Donâ€™t drag the conversation too long - Once the conclusion is reached, itâ€™s better to close the deal. Donâ€™t wait for some more miracles to happen. Make sure you donâ€™t make the negotiation too monotonous otherwise the parties will lose interest in the discussion. The discussion should be interesting and everyone should participate in it.Express your opinions at the time of discussion, rather than cribbing later.
One should not act pricy or pretend things - Be yourself and try to react in a normal way. Donâ€™t be rude to anyone. Be at ease and things will automatically fall in place. One should be comfortable with the second party for a better negotiation.
No one would hang you if you are unable to close the deal, so avoid fighting with anyone unnecessarily. Itâ€™s better to ignore minor things. Donâ€™t make issues out of petty things. One should learn to compromise sometimes and strive hard to come to a conclusion.
Chose a proper room for business negotiations - A conference room, a meeting room or probably the board room is the ideal choice. Opt for a noise free place. Donâ€™t make the discussion too formal. You can order some snacks as well. Always carry a pen and a notepad to jot down important points for future reference. If you have to deliver any presentation, make sure it is properly downloaded in your laptop. Do check once before going for the negotiation. It might embarrass you in front of others. Dress appropriately for the deal. Prefer formals for the desired impact.