Negotiation is one of the most common practices in commercial world. It is easy to get the maximum benefits of a deal; but it is hard to sustain these benefits as this requires hard work from your side. The following 10 tips will help you negotiate effectively to attain and sustain successful business deals.
1- Prepare your data
Before negotiating, be prepared with all the required data about the supplier,products, category and the market.
2-Every thing is negotiable
Don’t set any thing away from the negotiation but every thing you offer you should have something in return.
3-Define the negotiation goals
start your negotiation meeting by defining the goal of the negotiation ( what we are negotiating For? )
4-Don’t use negotiation word
using “Negotiation” Word will make your partner take a defensive mode and the negotiation will be more hard.you can use “Agreement” instead of negotiation
5-Set Multiple Options
Using Multiple options makes your partner believe that you are trying to Support
6-Good Guy / Bad Guy Tactics
You can use one of your colleagues as Bad Guy who is block minded and not willing to support however you are a Good Guy and you will give the full available support and you will negotiate on behalf of him
At certain level of Negotiation you should express that you need to refer or engage your manager or team in the negotiation as this part in not within your authority
8-Search For The WIN-WINY
You must believe that your partner has to win with something. So your gain will be sustainable for more time
9-Make a conclusion
Make a conclusion at the end of the negotiations and communicate it officially to avoid any misunderstanding
50% of the negotiations failed because of the bad following-up as this give window for the partners to skip his commitments