Negotiation Skills: How to get the best possible deal
While the art of negotiating is not something that many people are taught to do in school, it is important because successful negotiations can lead to saving a lot of money and resources over time. Negotiating skills are important for in an individual as well as a business. Being able to secure a great deal while at the same time keeping the other side on good terms is very important in every business transaction.
There are 5 crucial things that you must consider before you attempt to negotiate any deal. If these tips are used correctly your chances at a successful negotiation will be much higher. Remember that patience is most important when discussing any deal. Make sure to think ahead and to speak slowly throughout the negotiation.
Try to have the other side make the first offer
No free gifts!
Maintian a positive environment
Settle everything at the end
Do your homework
Before you begin the actual negotiation you should think ahead and consider what you are willing to accept. Always do some research to find the going price for whatever it is you are selling/buying. Not knowing the worth of an item has lost many people money over the course of a negotiation. For example, if you are selling or buying a car, check out the suggested price on a site like kellybluebook.com. You have to know what a good deal is before you can try and reach one.
Consider what the other side is thinking. Plan ahead for possible strategies that the other side may employ to get themselves a good deal. An example would be researching common strategies of a car salesman before you go down to the car lot. Knowing the potential negotiating strategies of your opponent will help you get the edge by expecting what is coming and also learning the techniques that work. One such technique is the "Good Guy - Bad Guy" routine. This is commonly used both on the car lot and in a business setting. It is where one side gets the other to agree to its terms by convincing them that it is in their best interest.
Why is negotiating important?
Being able to successfully negotiate is a skill that will save you and your employer lots of money over time. If you are able to effectively use the techniques described above then reaching great deals will slowly become natural to you. Soon you will start utilizing these principles of negotiating in many facets of life including business deals, sales, purchases, and contracts. Negotiating is also a skill that many businesses look for in potential employees. This is why you should never be scared to negotiate a salary contract at a new job. Companies, for the most part, like to see that a new employee cares about money enough to bring it up when they are hired. This skill set will save you and also that company tons of money over the course of time.