How to Master Negotiation Strategies

Are negotiations difficult for you? Do you spend sleepless nights where you have to get out of bed at the crack of dawn to negotiate with clients, dealers or leads? Do the majority of your negotiations result in misunderstandings instead of improving your overall business relationships? Has there ever been a point when you've wished that you could calmly sail through a deal without being seen as unfriendly or authoritative? If your answer to most of these questions is YES then you definitely need some assistance, and if you try to remember the following useful tips, you'll find that negotiating is not a difficult job after all.

In many cases, it's the variety of expectations, emotions and strategies involved which applies the psychological pressure to the negotiator, which easily can - and often does, drive the endeavour in the wrong direction. Here are some do's and don'ts from management training for successful friendly negotiations.

Do's:

a.) Always approach negotiations with a calm and mature mindset. Never approach negotiations with an air of overconfidence or seem desperate to close a deal.

b.) Implement a relaxed, confident and honest approach. Always approach the other party with a friendly manner and begin the process by exchanging pleasantries and casual conversation. This will provide both of you with ample time to relax into your groove.

c.) Take care that the negotiation remains a reasonable process. It's your privilege to convey your point of view, and your opponent has this privilege too, so try not to back him into a corner.

d.) Always give ample time to the other person so he can finish what he has to say, and avoid interrupting or trying to take over the conversation.

e.) Try to follow and understand the negotiating style of the person across the table. If he is polite, be polite. If he is tough, be polite again. The idea is not to have heated debates, but to come to a mutually amicable solution.

f.) Ask questions, but at the same time don't deny the other person the same liberty. Remember to listen carefully; as this will give you time to think so you can make a productive counter move.

Don'ts:

1.) Do not be bogged down by the image or market standing of the other party. Trust your abilities, and remember that the reputation of an individual is rarely accurate.

2.) Do not let emotions rule the scene - keep them under control. An overplay or underplay of emotions can cause irrational behavior, frustrations and conflict.

3.) Do not forget that you are at the negotiating table to reach the best deal possible for you and your company. Be straight forward, well researched, set goals and have a clear vision in sight.

4.) Do not approach negotiations unprepared. Always prepare a strategy well in advance - but don't cling to it, just remember to follow the general theme. Circumstances may be different in each instance, and you may need to adopt a flexible plan based on the flow of your current negotiations.

Most business coaching experts agree that the above tips can come in handy when negotiating just about any deal. Negotiations should be thought of as healthy discussions and not as argumentative conversations. Business works on the basis of relationship. In other words, negotiations should help a business earn friends - not enemies. The idea is to not only win the negotiation, but to win the person sitting across the table as well.

Alan Gillies is the Managing Director of the L2L Group. He specialises in delivering Executive Coaching, Training and Consultancy Services to International Businesses across the World. Want to discover more about these insightful business building success strategies? Get Alan's essential FREE Business Pack today!