Negotiating Tips and Tactics for the Business Professional

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25 Jun

Negotiating Tips and Tactics for the Business Professional

You must acquire certain skills as a business professional. One skill that Dharma Home Suites thinks is particularly useful is the ability to negotiate well. Negotiations are most importantly determined by communication. Make sure to practice these recommended skills regular in order to see improvement.

Read here: Pros and Cons of Short Term Rentals

The Basics of Negotiation Skills

  1. Listen: The most important skill for negotiating is listening! Everything that someone says during a business negotiation can be potentially useful information. Even something as simple as someone’s favorite drink can be used as a metaphor or another potentially useful snippet of information. So always keep your ears open and be creative.
  1. Win-Win: When you go into a professional negotiation, it’s important to go in with a win-win mentality. This negotiation isn’t only going to be about your business’ side. A win-win ensures that both parties are happy and will continue working together to flourish.
  1. Flexibility: Having a willingness to compromise and problem solve gives the other party good faith in your ability to help not only yourself, but them as well.
  1. Knowledge: This goes along with the listening skill. Having knowledge and background regarding the company your negotiating with is imperative. Having the knowledge of what your company is willing to give, wants to gain, and where it’ll compromise is also important. So essentially, don’t slack off when it comes to preparations.
  1. Authenticity: People can tell pretty quick when they’re being manipulated and will immediately become defensive. This is a fast track to failed negotiations, so essentially, just be honest and realistic. Come from even ground.

Other Important Goals and Skills for Successful Business Negotiations.

  • Destroy Barriers: Barriers to communication, mental barriers, or any other barrier. As said above, be sure that you are on even ground with the other parties in the negotiations.
  • Vision: Focus Forward: Have vision and optimism when it comes to the outcome of this negotiation. Make sure you clearly state your expectations and perceived benefits. But also be prepared to face counter arguments.
  • Don’t be Desperate: Desperation is weakness in the business and corporate worlds. Show your clients that you would really benefit from successful negotiations, but that you don’t NEED it to be successful.
  • Don’t lose sight of concrete growth potential: It’s good to get imaginative, but ensure that you also have hard statistics and facts.

Long story short in order to negotiate well, you have to be human. You have to be vulnerable, but not weak. You have to be stern, but willing to compromise. You have to be interested, but not obsessed. Just treat them with respect and be sure to figure out how you both can improve.

From all of us here at Dharma Home Suites we hope you enjoyed reading and that it helps!