Negotiations Training That Will Make You More Effective

Negotiation is a skill that many business owners could use more training on. It's not just about haggling for the best price, it's also about making sure you get what you want and need for your company. That's where this blog post comes in!

 

We'll teach you negotiation skills that will help keep your company running smoothly and more efficiently.

Are you ready to learn some killer negotiation skills? Let's go!

Understand the difference between positional bargaining and interest-based bargaining

Positional bargaining is based on giving the other party "everything they want, nothing more and nothing less." That can be useful for when you're trying to get a raise at work or when trying to sell an item–basically, anything where you know exactly how much money something is worth.

 

Negotiations training based on interest-based bargaining means finding out what the other party wants as well as their priorities, then working towards both of those needs.

 

In our opinion, this approach results in better relationships even after the negotiation is over. So use interest-based tactics when you can!

For instance:

If your company has been hired to repair computers, do more than just meet deadlines; find out what your customer values about you and offer it.

 

Maybe it's the ability to work with specific software or other technical knowledge that they lack. Whatever it is, demonstrate that you can give your customer what they want and thereby make them more willing to pay for your services as well as work with you again in the future.

Negotiations Training #2-min

How to use bargaining power effectively:

When are you in a stronger position to negotiate? That really depends on your goal.

 

If you want something in the short term, go into your negotiation with a short-term goal in mind. If you're trying to create a long-term relationship with a client, focus on creating that bond rather than getting the immediate sale.

Understand your BATNA (Best Alternative to a Negotiated Agreement)

What is your BATNA? Your BATNA is the best alternative to a negotiated agreement. That basically means that it's what you end up with if negotiation fails. You can have a low-ball or no-ball BATNA, and in both cases, they have serious drawbacks.

How do you define your BATNA?

Don't get too caught up in this term – it simply means understanding what would happen if you didn't reach an agreement. For example, if you're negotiating for a new sales contract, your alternate situation could be the contract that you currently have in place.

 

Just make sure that whatever your alternatives are, they aren't worse than the one being offered to you!

Negotiations Training #3-min

Be Prepared for Trade-Offs:

Do not walk into a negotiation without knowing what's important to you. That way, if a deal is struck and your BATNA comes back to haunt you, you're prepared with a backup plan that will make sure that the terms of the agreement satisfy your bottom line.

 

Your first instinct might be to avoid trade-offs – after all, they can change up the negotiation and leave you with a less favorable deal than you were hoping for.

 

However, they are an effective way to get what you want from the other party (or parties) and to reach a deal that is mutually beneficial.

Practice with friends or family members before entering into a negotiation.

It's much easier to practice with people you know and trust so that you can locate any issues or questions during your training.

 

The first thing that we'll teach you is how to avoid emotional responses during negotiations. Anytime you're excited, upset, or angry, it affects the way that you communicate with others.

 

It will have a direct impact on the final outcome of your negotiation as well! Make sure that all parties involved are calm and collected before moving forward in a conversation.

Negotiations Training #4-min

Step One: Isolate The Issue

Before negotiating anything in business (or even at home), make sure there's an issue worth discussing. Find out what it is by asking yourself these questions:

 

Do I feel like my needs aren't being met? Are there problems that have arisen that need to be addressed? Can I get a better price on the product or service I'm buying? Is there another way for me to accomplish my goals without using this particular item or service?

 

This is especially important in business since you never want to spend more money than is necessary. If you can't answer any of those questions, it might be best to table the issue and wait until you have more information.

Step Two: Pick the Right Place

When you're ready to negotiate, there are several factors that go into choosing a location. Consider the time of day for your negotiation to see how it will affect your conversation. If possible, pick a time when you know that everyone involved will be more focused and relaxed.

Step Three: Communicate Clearly

One of the most important negotiation tactics is to make sure that everyone is speaking clearly. Keep in mind that clear communication means speaking at a rate that your listener can easily understand and making sure there are no interruptions, such as phones ringing or people walking by.

 

Unless you want to waste time and energy repeating yourself, make sure that everyone involved in the negotiation understands everything being said throughout the conversation.

Negotiations Training #5-min

Recognize that people will sometimes be difficult, but don't take it personally.

Negotiating involves a lot of people, all with their own quirks. It's important to not let other peoples' attitudes ruin your negotiation experience.

 

The most important thing to remember is that the trick in business negotiations is to make sure that you're reaching an agreement that both parties can agree on.

 

That means it's possible for both sides to come away from the negotiating table feeling like they won...even if it doesn't look like it initially!

 

Reach agreements collaboratively Rather than dictating terms or trying to force your opponent to do something, strive for a collaborative solution where everyone feels heard and valued.

 

This will create trust, which will lead down the line toward more productive relationships between your company and others.

Acknowledge the other side's position.

Just because you disagree with them doesn't mean that they're wrong or don't have a good point.

 

When you understand their concerns and acknowledge them, it will be easier to talk things out and find solutions that work for both sides.

 

Don't make assumptions about what someone else wants or values. If you jump in and start trying to get around negotiating, you might miss out on a better solution that would actually have worked for both sides.

Negotiations Training #6-min

Consider using humor in negotiations.

If you don't take yourself too seriously, your opponent may lower their guard and relax. Afterward, they might not remember all of the details as clearly.

 

Humor can also help break any tension in a room.

 

You should always be prepared for negotiation from multiple angles.

 

Make sure that you are well informed about what it is that your company does and who your competitors are in the industry.

 

If possible, learn as much as you can about them prior to meeting with them or making contact with them at all.

 

This will help you to be prepared for anything that they may throw at you. You will also have a better idea of what your bottom line is.

 

In negotiations, age does not matter. There are many people who believe that older people in the business world are wiser and more experienced when it comes to negotiations.

 

However, this is not necessarily true. That is why you should never make the assumption that someone's life experiences will make them a good negotiator.

 

While experience does play a role in becoming a great negotiator and improved negotiation skills, there are some factors that have more impact on the outcome of the sales process than others.

Negotiations Training #7-min

In Summary:

Negotiating is a skill that not everyone has, but it's one worth developing.

Whether you're negotiating with your spouse over which show to watch or trying to get the best price on an item at a yard sale, learning how to negotiate can be helpful in many situations and scenarios.

 

When preparing for negotiations of any kind, consider these tips from experts who have studied negotiation extensively:

 

  • Understand the difference between positional bargaining and interest-based bargaining
  • Practice with friends or family members before entering into a negotiation so they know what you want them to do during practice sessions (i.e., take their time making decisions)
  • Recognize that people will sometimes be difficult when negotiating because they are stressed or are operating from a place of fear. Try to avoid getting angry if this happens, because it might make the other person feel defensive and unwilling to budge on their position.

 

Instead, allow them to explain why they're acting the way that they are and listen carefully so that you can learn from them. If something from their past influences how they act, you might be able to help them overcome it by working together.

Want to learn more about becoming a stone-cold killer when it comes to negotiations?

Click Here to learn more about how we can help.

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