Negotiation is the backing force behind getting as much benefits from a business meeting as you want. Being versed in pulling the right strings during a bargaining process will help you get the upper hand and obtain what you want. Here are 5 foolproof techniques to step up your negotiation prowess and draw a positive result from a meeting.
1. Tame anxiety
Composure is a crucial factor in a negotiating process. Being in a good control of your feelings and inner senses makes you confident with your plan and ideas, and prevents you from committing mistakes, enough to ruin your career. It is common, even, to experienced negotiators to go through a pre-meeting anxiety, marked by sweaty palms, pounding heart and burning chest. If you will be able to tame this negative nervousness, by turning it into a positive excitement, you will gain the total control over the situation. To do so, take some meditation and repel the importance label attached to the meeting, assigning it as a simple task you will perform everything well.
2. Open up
It is common to be cautious and reserved during a negotiation process. Many choose to hide their skeletons in the closet and be completely stiff in regard to revealing some personal information that might defrost the communication. This a wrong approach that compromises outcomes, and prevents your partner from trusting you fully. In order to ease the tension and get the negotiation flow easily, it is relevant to provide some information about yourself. Speak about your personality, hobbies, and future plans that would have your counterpart reciprocate and create closer bonds.
3. Choose open-ended questions
Asking questions that require a “yes” or a “no” are not productive and inhibit the conversation, by putting your partner under pressure. A best choice is to ask questions that engage him into retelling, giving details and expressing his opinion. Thus, you will know more about his intentions and build up trust that will facilitate the negotiation process.
4. Harness the silence
Most people tend to avoid uncomfortable silences during a conversation, especially during business negotiation when voicing your point, and counteracting poor offers is crucial. It might be a grave mistake, as silence can be a reinforcing element to help you gather your thoughts and make up your mind. Do not fire with counter-arguments and great claims, as your partner finished to speak. Take your time to weigh all aspects and issue an effective defence and a stronger position. Also, silence is a good way to calm down and improve your listening abilities.
5. Assume the first offer
Contrary to popular belief, issuing the first price is not as detrimental as it might seem. Many think that it is best to let the counterpart make his game, and gather all information about him, before stepping in with your offer. In fact, making the first offer means to issue a point of reference that will make each next offer revolve around. This works as an anchor price, around which both parties will orientate their further negotiation plan. The best choice is an offer which goes slightly beyond partner’s reservation price. Thus he will stay engaged and focus on reaching his goal.