Learning how to negotiate effectively is an important skill that requires equal parts preparation and follow-through.
By planning ahead and accounting for all possible outcomes, business leaders stand a better chance of reaching the desired outcome and building partnerships that are designed to last.
Here are 5 tips that can change your way of negotiating in future:
- Identify all possible scenarios:
- The first step to a successful negotiation is to hypothesize and plan for all potential outcomes
- Even if the situation is not in your favour, you have to be prepared for the worst case scenario
- If everybody in your team understands what the goal is and what the maximum and minimums are that you’ll accept, it helps with improvising during the negotiation.
- Take a break:
- Negotiations can get emotional — fast.
- Taking a breather is especially helpful in cases when it may get a little heated.
- Pay attention to body language:
- At the negotiation table, what isn’t being said actually says a lot.
- When the group breaks from the negotiation table, the observer shares details that others in the room may have missed
- Do a post-game replay:
- In today’s world, not all negotiations happen face-to-face, which can make it difficult to see someone’s emotional reaction or body language.
- Replay the videos of your conference call and drive inferences on the basis of what you observe.
- Focus on the outcome:
- In most of your negotiations, it’s easy to lose sight of the benefits of a brokered agreement.
- You have to paint a picture of what the situation’s going to look like after the agreement
- You also need to be humble even if the negotiation goes perfectly according to the plan.
Here’s an article to know more about the same:https://mitsloan.mit.edu/ideas-made-to-matter/5-tips-successful-negotiations
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