“For you to ensure you’re getting a fair deal in transactions, discussions and client acquisitions you need to learn the art of true negotiation”
Have you ever watched Dragons Den? Have you noticed that when any of the dragons decide to make an investment, the candidate always negotiates the percentage of their company, they are willing to give away?
Well this is exactly the same in life and other areas of your business. For you to ensure you’re getting a fair deal in transactions, discussions and client acquisitions you need to learn the art of true negotiation. Here I share 4 key characteristics of exceptional negotiators that make a significant difference in the strength of your business.
Firstly, negotiation is a form of bargaining, give and take. They are simply discussions on how to get an agreement. But there are two types of negotiations:
Win/Lose – By its very nature, this mentality assumes a limitation on what is available. It assumes that the only way to win is at the expense of another. This can undermine credibility and integrity.
Win/Win – The purpose of these types of negotiations is to ensure that both parties gain. Emphasis is based on a longer term relationship with a level of trust and flexibility. Each party seeks to understand the needs and desires of the other. If both parties embrace the needs of each other, they will be motivated to make the agreement become reality.
Always aim for a win/win situation. The synergy between parties who want both parties to benefit generates far more creative possibilities and opportunities.
Be patient and flexible
Firstly, exceptional negotiators take the time to build trust because they are in it for the long haul. They understand and appreciate that there is more than one way to win in negotiations so always look out for alternatives. If you have a prospective client who wants to use your services but can’t afford it, offer alternative ways to pay and create a payment plan. Your payment should never strain.
Richard Bandler co-founder of NLP said ‘one choice is no choice, 2 choices is a dilemma and 3 choices is a good start’- This should be followed.
Personal experience has shown me that sometimes you don’t win the fight but you win the battle, so be patient and offer choices.
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HR and Business Growth Specialist
The People’s Partner