Whether you are negotiating a business deal with your client or you are negotiating your remuneration with your employer, the art of negotiation escapes most of us.
For the majority, negotiation means a process which involves a reduction in pricing and terms to get the best deal. However, that’s not what it is supposed to be. The word “negotiate” means to carry on business. The aim of negotiation is to continue doing business with another to arrive at an agreement. Your goal is to come to an agreement about a proposal and the best way to do this is to build value in your offer.
Here are some negotiation must dos:-
1. Start the Negotiation.
To control the closure, you must initiate the process. It’s widely seen that the person who controls the start of the negotiation tends to control where they end. If you let others start, you will soon be giving up control, often without even realizing it. For example, when you ask someone what his expected remuneration is, you are giving him the power to start the negotiation. You will then end up spending all your time reaching his number instead of finding a reasonable solution.
2. Negotiate in Writing. Always!
Lots of professional salesmen discuss and work on the terms of an agreement without ever committing their ideas in written. If you build your written agreement while you negotiate, you are more prepared to ask the client to sign the moment the buying decision is made.
3. Stay Cool.
The negotiation desk is generally filled with agendas, emotions and egos. Good negotiators know how to stay cool while the rest is involved in personal agendas and emotions. When the rest of the people get emotional, stay cool and use your sense to negotiate and close.