Essential Negotiation Tips Explained
Featured Columnist: Tanna Bogursky
It’s time for some more negotiation tips! You’ve seen them on our Twitter, but some merit more than 140 characters. Take a few minutes to learn some new negotiation skills.
- Start strong! The first 5 minutes of the negotiation are the most important, they often predict the outcome of the negotiation.
According to a study by two MIT professors, the first 5 minutes of a negotiation usually predict the outcome. So, what does this mean for you? It means that you need to make sure the first five minutes go well! Think about which aspects of your argument are most important, and what are the key points you want to get across. However, this does not mean that you should treat the first few minutes like the opening argument of a debate or court case. You should also keep in mind how you are coming off to the other party. Be friendly and cordial, but also stand strong in your resolve.
2. Nervous about how you’ll do? Practice with a friend or family member before a negotiation.
While this tip seems simple enough, many of us feel silly practicing for a negotiation. However, like the old adage says, practice makes perfect. Ideally, you would find someone you are not entirely comfortable with to simulate the actual negotiation environment, but if this is not possible ask a friend or family member. Ask them to respond in a variety of ways so that you can gain experience with different outcomes. Worst case scenario, if you don’t have someone to practice with, practice in front of a mirror. Even just saying your requests outloud to yourself, can help you feel more comfortable when you enter the negotiation.
3. Listening can be as important as talking in a negotiation. Always pay attention to what the other side is saying.
This tip goes hand in hand with one from our last negotiation article.
“Make it clear to the other side that their needs will be met, they will then be more receptive to your side”.
A great way to do this, is to listen to the other party. Really hear what they have to say and what is important to them. Listening will also give you insights into what is truly important to the other side. By discovering what they really need, you will be able to craft a more effective deal. In fact, sometimes it turns out that both sides actually are looking for the same things but just using different language.
4. Take your time, not everything needs to be done in a hurry.
It is often difficult when negotiating to go slow. You want to make sure you get all your points across, and get what you want. However, it is a better tactic to take your negotiation more slowly. While you should start strong, you should also keep your pace in mind. Overwhelming the other party with facts and numbers all at once is not always the best technique. Instead, some time to discover the right pace for you.
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