Negotiations Training 101: How to Become an Expert Negotiator

For most professionals, negotiating takes up over half of their time. Sadly, less than 10% have ever received formal negotiation training and are ill-prepared for this difficult part of the profession.

 

Too many of us are winging it when trying to solve problems or get deals done.

 

If you want to be successful in both business and your personal life, it is important for you to strengthen your sales negotiation skills.

When most people hear the word negotiation, they think of bartering with a used car salesman or bidding wars at an antique show. But negotiating can take place anywhere, anytime.

 

Negotiating is the process of finding a mutually beneficial and satisfying solution to an issue or dispute between two or more parties when they cannot agree on how best to proceed.

 

Negotiating often involves many steps with back-and-forth communication over these issues until both sides are satisfied with the outcome.

Negotiation Skills Include:

- Communication:

the ability to express thoughts and ideas clearly, persuasively, and respectfully.

- Empathy:

An understanding of other people’s feelings or views even if you don't agree with them.

 

You can develop empathy by listening carefully to what others say without interrupting them or judging their position before they have finished talking.

- Conflict management:

the ability to deal with disagreement in a constructive manner and learn from it rather than allowing it to cause resentment or hatred.

- Problem-solving:

The process of identifying, analyzing, defining root causes, and finding solutions that will resolve the problem completely—or at least well enough so that you can continue negotiations on other issues.

- Negotiating as a team:

The ability to work with others in order to reach an agreement on goals and objectives by leveraging your individual strengths and abilities, and those of your team.

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Negotiation Training Is Key To Your Success

Negotiating is not an easy task, but it can be mastered with the right training and preparation. The ability to negotiate effectively carries over into many aspects of life, including negotiating that is conducted in the workplace or at home between you and a loved one.

Negotiations Training Leads To Successful Business Deals:

By attending negotiation training courses, individuals learn how to prepare for negotiations by researching their opponents as well as themselves beforehand.

 

They also gain confidence while dealing with other people because now they know what questions should be asked during negotiations along with some possible responses from all parties involved in the negotiation process.

 

Preparing for a successful outcome ahead of time provides much-needed peace of mind which leads to successful business deals when negotiating business transactions.

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The Six Things Every Great Negotiator Knows:

1. How to manage yourself

Good negotiation skills require good interpersonal skills.

 

These include the ability to accurately read people, manage your own expectations and emotions, maintain an open mind about what may happen when negotiating.

 

Stay focused on achieving results rather than winning or being right. Show respect for all parties involved (including yourself).

 

Create a comfortable atmosphere by using appropriate body language and tone of voice. Maintain an appearance of confidence even in the face of adversity.

 

Every great sales rep knows that negotiating is a marathon, not a sprint. You need to pace yourself and keep your energy at an optimal level throughout negotiating in order to maximize the probability of achieving success.

 

It is very important to avoid getting frustrated or angry if things don't go as you planned because this will only make it more difficult for you to keep your focus and be effective.

 

Negotiating is about give and take. If you want to get something, then be prepared to offer something in return (within reason).

 

This is true for negotiation where the focus of the negotiation may be a sale or when negotiating with your boss as well.

 

In sales negotiations, it's important that both parties come out feeling like they had an advantageous outcome.

 

This will lead to increased customer satisfaction and repeat business from them down the line.

 

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2. The most common approaches to negotiating & the sales process

There are two basic approaches to negotiation strategies: competitive and cooperative.

 

In other words, you can either focus on getting the most of what you want by assigning value to different aspects in a negotiation or try to meet each party's interests so as many needs as possible will be satisfied in the end.

-The competitive approach

This is a more traditional method of negotiating, which centers on one person's needs and desires for a particular decision to be made.

 

This type of negotiation usually leads to hard negotiations where neither side gets what they want in order to satisfy the other party's wants or needs

-Cooperative negotiations

Are often used by more experienced negotiators. This negotiation approach focuses on meeting the needs of all parties involved instead of satisfying one party's wants or desires at the expense of others.

3. The most critical move in a competitive negotiation

In competitive negotiation, the most critical move in a competitive negotiation is the first move.

 

That’s because when someone makes their opening negotiation too late or not at all, they can appear unprofessional or unprepared for the challenge of negotiating with another professional negotiator who was already prepared.

 

The most important thing when negotiating competitively is timing - knowing when high-balling or low-balling moves would be best.

 

And having the patience to wait for your negotiations partner to reveal their type of negotiating strategy.

- Tip:

  • If you want to point out that negotiation is going poorly, point out the other party's weaknesses early in the negotiation. This will help them adjust accordingly and get back on track quickly.
  • For example, if they've already made an offer that is too high or low, mentioning it right away can keep the sale from getting off-balance again so quickly.

- Tip:

  • When making your first offer aim lower than what you're actually willing to pay or sell at.
  • You may find yourself surprised by how much weight those seemingly small offers have when negotiating with someone else!
  • It doesn't hurt anyone but also gives both parties room to work together towards a solution that better meets everyone's needs.
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4. The power of cooperative negotiation

A cooperative negotiation is a negotiation in which the parties involved try to find a solution that is mutually satisfying for both.

 

This approach offers many advantages, including higher levels of satisfaction and trust at the end of the negotiation, less time needed to reach an agreement when compared with competitive negotiations, and more creative solutions.

 

It’s important for sales professionals not only to know what your goals are but also to have clear expectations about the other party’s interests and needs.

 

The better each side knows one another’s position on negotiation points, the more likely they will be able to negotiate together cooperatively toward mutual benefit rather than compete against one another.

 

Which can lead to stalemates or worse yet failure.

 

After The Negotiation:

Both parties feel greater trust in one another. The negotiation process is not only more creative but also often more productive because people use the opportunity to make joint decisions and explore new ideas.

 

Another advantage of cooperative negotiation:

There are fewer conflicts between participants. In contrast, competitive negotiations can lead to a “win-lose” situation, which can create tension and disappointment.

 

In negotiations that are cooperative,

both parties have a stake in the outcome because they work together to find an agreement on their own terms.

 

They also tend not to be territorial about what is negotiated; instead, they try to look at negotiations as opportunities for shared decision-making.

 

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5. How to identify and deal with tactics

Tactics are tricks, ploys, or stratagems employed in negotiations to influence the outcome. They can either be used offensively (e.g., “I will make you an offer that is difficult for you to refuse”) or defensively (e.g., by making it hard for the other party to get what they want).

Tactics can be conscious or unconscious.

When communication between all parties takes place on a daily basis, the negotiator's tactics are well-known to their counterparties and negotiations tend to follow a set pattern of behavior with predictable outcomes.

 

Consequently, some negotiators employ tricks that involve deliberate deception in order to gain an advantage in the conversation (e.g., "I have to go, I'm expecting a call")

6. How to satisfy all of the parties involved

It is important to satisfy all of the parties involved.

 

For this reason, you should always start with an exploration phase during which each party presents their needs and expectations to the other two or more parties in order for all sides to understand what must be negotiated.

- Explore all of the needs

  • When exploring, it is important to explore every need and expectation.
  • This means that discussions could last for a long period of time before anything concrete happens with anyone party because the discussions are mainly focused on understanding what it will take to satisfy everyone involved in this negotiation process.
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- Identify your walkaway point

  • Before a negotiation starts, identify your "walkaway" or bottom-line point.
  • Knowing at least where you won't go lets you know when someone is trying to push you past those boundaries.
  • From there, use tactics like discussion points or emotional intelligence skillsets during negotiations in order to come up with an agreement that satisfies everyone's needs as much as possible without going over budget or sacrificing too many resources.

- Be aware of negotiations for the future

  • Negotiation is often not a one-time event. Negotiators have to be prepared to go back and renegotiate as necessary, meaning that they need places where they can show how what's being negotiated now will affect negotiations in the future.
  • For example, if your company is negotiating a contract with someone else who does business with you but wants better pricing than you're currently offering them, then identifying their needs in advance could help both sides come up with an agreement that works best for everyone involved.

 

- Practice negotiation skills on all levels

  • It takes practice before anyone becomes an expert negotiator so it is important to take every opportunity possible to improve their personal skillset.
  • Negotiation training programs are a great place to start when someone is looking to better understand their negotiation style.
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To Summarize:

Negotiating is a skill that can be used in many different situations, whether you're the buyer or seller.

 

It's important to understand what your objectives are and how best to achieve them, which we hope this blog post has helped with.

 

In a negotiation, we are all looking to get the best possible outcome for ourselves.

 

It is important that you know what your objectives are in order to achieve them and be successful at negotiating.

 

Developing sales negotiation skills and understanding how negotiations work will give you a leg up on other competitions that probably haven't taken the time to do their research and understand their needs as well as yours.

 

At its core, negotiation is about compromise. Do you want something from me? I want something from you too! We're going to need some give-and-take if both of us walk away feeling like winners after our discussion.

 

If you want more information on the best sales negotiation training so you can improve your sales negotiation skills for yourself or someone else, then click here to gain access to the best sales negotiations training I've personally used to improve my own skills.

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