Negotiation Techniques You Should Learn as a Professional

 Negotiation is the art of dialogue that nearly every professional needs to survive in competitive industry in this day and age. Perfecting your negotiation techniques is key to making business deals work to your advantage. 

Negotiation comes into play in a variety of situations, such as asking for a raise, negotiating job offers, working on budget increases, buying or selling a property, or even figuring out vacation coverage at work. It takes a variety of skills to be able to come out ahead at the bargaining table. 

 If you do not arm yourself with strong negotiation techniques, you will lack the confidence and the ability to strike a favorable deal. If you love getting the better end of the bargain, here are the negotiation techniques you must learn as a professional. 

    1. Planning 

Never proceed to the bargaining table until you have planned what you’d like to address. Planning is crucial to being successful in a negotiation because it gives you a clear idea of what you say, of what you wish to achieve and the boundaries you cannot let the opponent cross. 

If you go into a negotiation without a plan you run the risk of forgetting terms that you want to discuss or options that you want to put forward. Planning also helps you identify the next best alternative for you as odds are good that the other party won’t always agree to exactly what you want. 

    2. Emotional Intelligence 

While people like to say that there are no emotions in business that is often far from the truth. Instead of denying the presence of emotion it’s best to recognize the emotions that may arise for both yourself and the other party. Learn to control and address those emotions as needed during the negotiation. 

It is highly necessary to recognize the emotional dynamics that influence and could negatively impact your composure and focus on the core issues. Do not let emotions overrule your logical thinking as that may give the other party an advantage. 

If you find yourself feeling upset or frustrated when elements of the negotiation are not going well for you it may be wise to ask for a break so that you can analyze the issues calmly and then resume negotiating with refreshed perspectives. 

    3. Create Value 

Value creation is one of the most vital weapons in your negotiation arsenal and there’s no way you can succeed without it. Now supposing your negotiation was about a pie and both parties are vying for the largest slice. 

If both parties are using their maximum effort to obtain the biggest slice, isn’t it obvious that one will invariably end up with a smaller one? You sure don’t want to be the one with the mediocre slice of pie. If you wish for the maximum benefit, you have to know how to create greater value. 

Perhaps trying to establish trust and a positive rapport with the other can add value to your negotiating table. 

When negotiating you want to find ways to create and show value. For example, if you are engaged in a salary negotiation the employee would show the value they bring to the company. In that same negotiation the employer may want to bring information that shows why their salary is competitive or discuss other benefits that the job offers.

In some negotiations it may not be possible for both sides to walk away feeling like they have won but if you cannot show any value to the opposing party it is unlikely that they are going to want to negotiate with you further.

    4. Fine Tune Your Communication Skills 

Strong communication skills will help you to persuade the other side to engage with your argument and to see things from your point of view. 

Good communication skills leave no ambiguity in your listener’s mind as to what you want in the deal. You should be able to clearly explain your objectives and expectations as this ultimately helps you to reach a better outcome.

    5. Be a Good Listener 

In order to convince the other side to listen to what you have to say you do need to  listen to them as well. A negotiation is not one sided.

Listening well will help you to understand what the other party would like to get from the negotiation and gives you important information about what objectives might be mutual.

    6. Develop a Strategy

Planning is the first step in developing a strategy. Once you have a plan about what you want the outcome to be then you can use strategy to help you identify what will and won’t work in a deal. For every negotiation you need to create a tailored strategy, which will include:

    • Clear definition of your role

    • Clear analysis of what you want out of the bargain 

    • Clear understanding of your value 

    • Understanding the vantage point of your listener 

Moreover, a strategy helps you proceed to a round of negotiation with a clear plan of action. With a strategy in mind, you can stay focused on what needs to be discussed during negotiation and not get lead astray.

    7. Integrity and Dignity 

A skillful negotiator is not only someone who has a strategic plan going into the negotiation but also is a person who does not lose their integrity and dignity at the bargaining table. No matter how strongly you feel about the negotiation, you must negotiate with fine moral and ethical principles. This lets the other side know that you’re someone who can be trusted to keep their word.

Final Words

Negotiation is not an easy feat and requires finesse, strategic planning and good listening skills to achieve success. 

If you are interested in refining your negotiation skills, check out the Become a Powerful Negotiator Workshop and the Online Negotiation Course.  They will both teach you how to succeed where others fail.

https://www.indeed.com/career-advice/career-development/negotiation-skills

https://online.hbs.edu/blog/post/negotiation-skills