How to Master Negotiation Strategies

Do you consider regular negotiations to be tough jobs to handle? Do you often lay awake during nights where you need to climb out of bed around sunrise to negotiate with clients, dealers or potential leads? Do most of your negotiations create misunderstandings rather than improving your business relationships? Have you ever wished that you could just sail through deals without being thought of as unfriendly or controlling? If your answer to most of these questions is YES then you definitely need some assistance, and if you try to remember the following useful tips, you'll find that negotiating is not a difficult job after all.

In many cases, it's the variety of expectations, emotions and strategies involved which applies the psychological pressure to the negotiator, which easily can - and often does, drive the endeavour in the wrong direction. Here are some do's and don'ts from management training for successful friendly negotiations.

Do's:

a.) Always enter the negotiation room with a mature mindset. Never walk in with an air of overconfidence or appear desperate to close a deal.

b.) Adopt a calm, confident and honest approach. Approach your opponent with a friendly gesture and start the process by exchanging greetings and small talk. This will give time for both of you to settle down into your groove.

c.) Take care that the negotiation remains a reasonable process. You have the right to put across your point of view, and so does the other person, so don't try to push him into a corner.

d.) Always give ample time to the other person so he can finish what he has to say, and avoid interrupting or trying to take over the conversation.

e.) Try to follow and understand the negotiating style of the person across the table. If he is polite, be polite. If he is tough, be polite again. The idea is not to have heated debates, but to come to a mutually amicable solution.

f.) Ask questions, but at the same time don't deny the other person the same liberty. Remember to listen carefully; as this will give you time to think so you can make a productive counter move.

Don'ts:

1.) Do not be bogged down by the image or market standing of the other party. Trust your abilities, and remember that the reputation of an individual is rarely accurate.

2.) Do not let emotions rule the scene - keep them under control. An overplay or underplay of emotions can cause irrational behavior, frustrations and conflict.

3.) Do not forget that you are at the negotiating table to reach the best deal possible for you and your company. Be straight forward, well researched, set goals and have a clear vision in sight.

4.) Do not approach negotiations unprepared. Always prepare a strategy well in advance - but don't cling to it, just remember to follow the general theme. Circumstances may be different in each instance, and you may need to adopt a flexible plan based on the flow of your current negotiations.

Most business coaching experts agree that the above tips can come in handy when negotiating just about any deal. Negotiations should be thought of as healthy discussions and not as argumentative conversations. Business works on the basis of relationship. In other words, negotiations should help a business earn friends - not enemies. The idea is to not only win the negotiation, but to win the person sitting across the table as well.

Alan Gillies is the Managing Director of the L2L Group, specialising in providing Executive Coaching, Training and Consultancy Services to Businesses across the Globe. Want to learn more about these business success strategies? Get Alan's popular FREE Business Pack today!