What if the key to a successful negotiation is finding a compromise that’s fair to all? Probably 99% of the time. But how do you do that? This case is about approaches to negotiation. It gives you seven tips on how to negotiate.
Negotiation is an art
An art that we all practice every day, without even realizing it. And yet! The mere fact of reading or saying “negotiation” makes many people nervous… because negotiation often evokes fear. You can imagine yourself in the company of a car salesman. You can also imagine the pressure of getting a good deal… with someone who is an expert in the art of negotiation!
Yet in 99.99% of cases, negotiation is simply talking to someone to find a solution. A solution that benefits both parties equally.
Based on this principle, negotiating bedtime with your 5-year-old is the same as negotiating with your biggest client.
How do you negotiate? How can you negotiate successfully? In this file, we offer you 7 tips for successful negotiation.
1- Creating a win-win situation
This is the most important principle in most negotiations.
When you go into a negotiation, take a positive and open approach. What is it? It is to want to reach a good compromise for both sides equally.
If everyone protects his or her beefsteak in the negotiation, compromise is hard to find.
2- Be patient
The best way to get a deal that’s against either of them is to be impatient. Negotiations take time. Creating solutions that work well in both directions may require several “drafts” of compromises and agreements. In addition, many negotiators are tempted to have their cake and eat it too. They are not familiar with the win-win concept!
So give them time, and be pedagogical. If you show that you are patient, you show that you consider the interests of your interlocutor as well as your own. This is good for creating a long-term relationship based on trust. I will come back to this later.
3- Be creative
Being creative in negotiation means looking for new solutions to problems, obstacles and barriers. By listening to the needs of the other party, it is easier to find new solutions that suit both negotiators.
Indeed, in 99% of the cases the art of negotiation is not limited to finding the compromise that is most favourable to one or the other.
4- To have a listening quality
To be successful in a negotiation, it is necessary to know what the other party wants to achieve.
Knowing how to negotiate means asking questions and knowing how to listen to the answers: this is why many good negotiators start negotiations with a discussion phase. By listening to the other party, one is better able to understand what their needs are and what goals are being sought.
Gathering this information allows for a quality negotiation: each person considers the needs and wishes of the other. Take an interest in the customer’s needs, what he wants, how he works, what creates his success… and you will know how you can sell him your product or service.
5- Get as much information as possible before trading
Take the time to learn all you can about the client.
By gathering as much information as possible before starting the negotiation, you will be able to understand the client’s needs and concerns. This knowledge makes it easier to find a mutually beneficial solution.
Trust is important because it allows us to agree to a mutually beneficial solution.
If you don’t have trust, the person you are talking to will see it sooner or later. This can jeopardize the negotiation, the search for a solution, and even its execution.
7- Knowing when to retire
Not all negotiations result in a win-win compromise.
Sometimes it is better to withdraw… but most importantly, good negotiation is being prepared to withdraw from negotiations at any time.
In the same way that negotiating is seeking a win-win compromise, being ready to withdraw is putting this approach into practice. If a suitable solution does not emerge despite the creativity, the search for compromise and the patience, we might as well get out of it.
In conclusion: to negotiate is to have self-confidence!
Successful negotiation is ultimately about having enough self-confidence to apply the above principles!
Confidence allows patience, it allows confidence in the other person… it clears the brakes on creativity…