how to negotiate
How to Negotiate
Understanding how to negotiate respectfully with a counterpart should be paramount in any situation.
When they are considering how to negotiate a deal, negotiators often focus on back-and-forth haggling strategies. Both parties are aware of what their interests are, and are willing to engage in a give-and-take process with the other party to come to agreement.
Negotiation, after all, comes down to reaching a mutually acceptable agreement over issues that matter to all of the parties.
However, research consistently shows that when making decisions, we tend to focus on short-term considerations and discount the future in a way that we regret later. Concerned about maximizing short-term shareholder value, for example, business leaders sometimes hone in on how to negotiate a “quick fix” solution, such as merging with another company.
In the flush of bargaining, it’s easy to focus single-mindedly on closing the deal. It’s at least as important, however, to think about how to negotiate around our broader goals, the best way to frame an offer, and building a relationship.
At the negotiation table, what’s the best way to do this? Even just a few minutes of small talk can go a long way. Build a relationship in negotiation by asking questions, then listening carefully. When you listen closely to someone and make an effort to understand their perspective, not only will you educate yourself, but you will likely encourage them to feel more trusting of you and more positive about negotiating in general.
Effective negotiation strategies in business are critical. If you don’t know how to negotiate a business deal, get the information you need to succeed today by downloading our free special report, written by some of the nation’s foremost experts in negotiation, Business Negotiation Strategies: How to Negotiate a Better Business Deal. It will teach you how to negotiate a business deal and gives you the tools you need to navigate even the stickiest business deals.
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