Here is How To Negotiate Better With ANYONE
Small businesses that harness the power of negotiation are indeed more successful. The art of negotiation simply can’t be ignored, and it will help you negotiate better with anyone.
Negotiation skills allow small business owners to employ active listening, develop client commonalities, and cultivate important relationships with a win-win partnership mindset.
Unlike some aspects of your small business, negotiation can’t be outsourced. The success of your company relies heavily on your ability to assert confidence and authority at the negotiation table.
“Negotiation may often be described as an art form, but for small business owners, it’s an essential skill that could make or break a company,” notes The Huffington Post and Goldman Sachs.
“Good negotiation skills grow your network, solidify your relationships with clients and vendors, and pave the way for future business opportunities.”
Roll up your sleeves and focus on your small business growth and success with these five powerful tips to negotiate better with anyone.
Negotiation is All About the Win-Win
It may seem like only one winner walks away from the negotiation table. However, negotiation is a give and take.
The focus is on building long-term relationships with clients, vendors, and anyone else in your small business network. Cultivate a partnership mindset and build the great relationships your small business needs a loan for success.
“In a negotiation, the seller needs to view a potential customer as a partner rather than an opponent,” explains Sherrie Campbell, psychologist, and author.
The win-win is an agreement with both you and your client, walking away satisfied with the deal.
Seek Commonalities at the Negotiation Table
With a partnership mindset at the forefront, you are ready to build those lasting relationships for your small business. And seeking out commonalities at the negotiation table will maximize your efforts.
Find what you and your negotiation partner share in common and use it to nurture the relationship. It is like sparking up a conversation with a stranger. You often touch on topics until that common interest is found.
Commonalities lead to common ground, and when two parties share an interest, it is often challenging for them to be in conflict. Satisfaction and win-win will certainly be the result.
Active Listening is the Most Important Negotiation Skill
Active listening is the most important negotiation skill a small business owner can hone. Yet, it is one of the most difficult to master.
Employing active listening allows you to find common ground, manage client satisfaction, and identify value and objections.
“Few negotiators would argue the value of good listening skills,” according to Harvard Law School. “Skillful active listening can calm tensions, break the impasse, and get you the information you need to build creative deals.”
Paraphrasing what your negotiation partner has said, inquiring about comments and objections to dig deeper into an issue, and acknowledging counters and objections, are the three main elements to active listening for you to focus on.
Acknowledge a Counter, With a Counter
Acknowledging counters and objections at the negotiation table is part of active listening and a powerful tactic. Many savvy negotiators use counters and objections to end a negotiation before they even begin.
For instance, when you contact a customer service representative, they often say they can’t access the information, or they simply have no authority to remedy your problem. This is a savvy counter.
They expect you to give in but don’t. Counter with a counter in order to ensure the negotiation win-win.
Acknowledge what your negotiation partner has said, then come back with a solution they can manage. They will feel heard, and the negotiation will continue.
Negotiate “Outside the Box”
It is easy to get hyper-focused on a single goal during a negotiation. However, as a proud small business owner, your vision and creativity have gotten you this far. So keep thinking “outside the box.”
A negotiation can end up in a variety of directions, and this is simply part of the win-win process. “You want to avoid getting stuck on a seemingly intractable issue,” suggests Richard Harroch of Forbes.
Ensure you have a few negotiations “gives” you can offer to keep the agreement moving in the right direction. These give should mean little to your small business but have high-value to your negotiation partner.
Negotiation skills are essential to small business growth and success. These skills encompass a variety of methods for communicating, influencing, planning, strategizing, and employing tactics, techniques, and teamwork. Nurture lasting business relationships with these tips to negotiate better with anyone.