Sunday, 17 April 2016

Successful Negotiations

One cannot succeed in today’s business environment without having good negotiation skills. If one can master the art of negotiation he can almost succeed in all business endeavors.

  1. Be assertive: Knowing what you want is clearly the first step towards successful negotiations. You do not have to be aggressive to be a good negotiator.  Emphatically conveying what you are looking to achieve in the negotiation will always give you results.  Being assertive means you have both your interests and the interests of others in mind.  Questioning the other party regards the claims being made or the offers given will lead to better understanding of the offer and put you in a better position to negotiate.
  2. Listen: Many a times we tend to talk too much and don’t listen. In the process we miss out on many inputs that may help in the negotiation process.  Due to our inclination to talk before we listen attentively, we are not able to understand the other person’s position and hence lose an opportunity to effectively negotiate.  Asking pointed questions and listening attentively will give us ample information for making the negotiation process easier.
  3. Go Prepared: Whenever you go for negotiations go prepared. Keep all information with you. Remember TIP (Time, Information and Power) is very important in the negotiation process. If the other person is short on time and is under pressure to close the deal early, make the best of it.  If you have all the information regarding the other person you have more leeway to negotiate.  Based on the power the person has in making decisions you can make the negotiation process that much more productive.
  4. Have options: Remember that if the negotiation process is not in your favor it is better to terminate it and look for other options. Be ready to opt out if rather than getting into a losing proposition.
  5. Take your time:  Have patience during the negotiation process. Don’t be in a hurry to close the contract and make the mistake of getting a bad deal.

- Article by Arunaagiri Mudaaliar

Arunaagiri is an Author of best selling books like 'Unleash your Potential' & 'Jogging for Life Success', an International Sportsman, a Successful Entrepreneur, a widely loved Yoga Teacher and a reputed International Corporate Trainer.

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