How to ace a negotiation?

[vc_row][vc_column][vc_column_text]Negotiation is a crucial skill that can accelerate your growth parth at your workplace. Companies are always making deals with other companies, governments, individuals and interested parties. So, if there is an individual who can crack deals in favor of the company, he/she would be a real asset to the company.When broken down into simple steps, negotiation seems like a piece of cake. But, it is not so. Negotiation is an art that requires a set of tools, and guidance from a veteran negotiator in order to master it. Remember that nobody is a born negotiator. It is a skill that is developed over time.

There are five vital ways in which you can ace any negotiation. Some of these are:

1) Relationships

In order to convince your opponent to let you have your way, you need to develop a bond with them. This can be done by asking them simple questions allowing them to reveal their plan. Maintaining a positive relationship with your opponent is necessary to get them to agree to your terms of the agreement. Remember, most of the times, business is converted because of the positive relationship between the two parties.

2) Plan

This is a crucial part of the negotiation. Without a plan, it will be difficult to close the deal. You need to have a thorough plan on the different scenarios that can pan out during the negotiation. Homework should be done on all the details and background about the opposite party, the industry price points, expectations and demands, etc. Being ready before a negotiation conversation is always better than an impromptu conversation, as you have better leveraging power with facts.

3) Goal

Always remember that the sole purpose of getting into a negotiation is not to have your way alone. There is a possibility that your opponent can throw in a surprise condition that may prove to be profitable to you. Therefore, set a goal as to how low you’re willing to go in terms of commercials based on the scope of work, man hours, timelines, expertise, etc. Then based on the circumstances, understand your opponent’s conditions and renegotiate, such that it is a win-win for both. Entering the negotiation with a solid goal in mind gives you a sense of direction through the process.

4) Pitch

If you’re unable to deliver a firm pitch in the beginning, you have already lost the battle. In order to ensure that you have the upper hand in the negotiation right from the start, draft a firm pitch that clearly describes your intentions, requirements, and your offerings. Be confident about it but, do not be arrogant. Your aim is to showcase confidence, not arrogance. Remember to perfect your pitch before your meeting with the right attitude and tone of voice.

5) Mental Preparation

You can gather all the vital information, plan the possible scenarios, have endless discussions with your team but, at the end of the day, if you’re not mentally prepared to ace this negotiation, then your chances of closing that deal are slim. Get into your zone – be tough, observant, and determined. Don’t get into a negotiation conversation with the mindset that you owe your opponent. You’re an equal partner in the deal and you should close the deal in a manner that favors both parties involved.

Negotiation is a valuable skill that can enable you to progress in your career at an enhanced pace. To do this, you can enroll for the negotiation program offered by WeSchool Bangalore and become a certified negotiator. In this program, a veteran negotiator will teach the various tools that are necessary in order to ace a negotiation. We also offer business management programs and corporate training in Bangalore.
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