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How to Avoid Common Negotiating Mistakes

By Edited Oct 2, 2016 1 2

Negotiating Hand Shake
We participate in negotiating many times during a normal day, many times without noticing. Negotiating can be as simple as getting the kids to do something or deciding with others what to eat for dinner. However, sometimes the consequences can be large and very detrimental if not done successfully in a professional manner. Below are some common mistakes people make and steps to avoid them.

Things You Will Need

Patience, Listening skills

Step 1

Dollar Sign

One of the mistakes people make most of the time is they go into a negotiation unprepared. Do your research. Know what it is that you want to get out of the negotiation and develop a plan prior to beginning any negotiation.

Step 2

Most people feel pressured by the statements "It's Now or Never", "We have to do this now" or the infamous "Take it or leave it." Do not let others pressure you into a deal that may not be in your best interest. Step back and look at the situation. Pressure can not work unless you let it. Remember, the other party can not negotiate alone. Also, do not allow yourself to be pressured into a negotiation unless you are prepared with all the information you need.

Step 3

Negotiating Dollars

Do not lock yourself into a position or be closed minded. Be open to alternative solutions and be willing to compromise if appropriate. Negotiating is about compromise. It is about give and take. Do not be stubborn or let your ego get in the way of completing a successful negotiation.

Step 4

Many times subordinates will begin a major negotiation but they do not have the authority or power to enter into a deal. Make sure you are negotiating with individuals that have the appropriate decision making authority. Otherwise you are wasting your time. If the people you are meeting with are not the people that can get the job done, request to reschedule to meet with the right people.

Step 5

Completing a successful negotiation is not a popularity contest. You have to forget the other side. You still have to give and take but you can not let feelings enter into it. You should never be condescending or rude because you always get more by being straight and honest with the other party. But remember, you are both there to win.

Step 6

Many people have their minds made up before the even listening to the other side. This attitude can never lead to a successful negotiation. Always focus on the other person, listen and don't jump to any conclusions. Improve your listening skills and less information will slide past you.

Whether you are negotiating a multi million dollar deal or what to eat for dinner, always try to avoid the common mistakes that can cost you in the negotiating process.

Tips & Warnings

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Comments

May 4, 2010 7:28am
Jack_Luca
Great negotiating tips!
Jul 13, 2010 9:48am
javrsmith
I had a car salesman use the line “It’s Now or Never” with me. He was right. The next day the car was moved from his lot to a discount seller in town. I bought it there and saved 10%.
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