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1.Make Sure you highlight your Compromises and make them against a compromise by the other party
2.Write down what you want and always start higher than what you desire
3.Identify the envelope of negotiations
4.Know your BATNA(The power to walk away)
5.Never Settle Issues Individually always settle them as a Package
6.Conclude with a nibble
7.Keep looking for a creative Concession to a trade
8.Focus on Interest Not on Position
9.Always Communicate Benefits of your Offer Rather than Features
10.No Free Gifts Seek A Trade off
Rule1: Be Prepared.
Rule2: Aim High
Rule 3: Give Yourself Room To Compromise
Rule4: Put Pressure On The Contractor
Rule5: Do Not Volunteer Weaknesses
Rule6: Use Concessions Wisely
Rule7: Say It Right
Rule8: Satisfy Non-Price Issues
Rule9: Use the Power of Patience
Rule10: Be Willing To Walk Away From Or Back To Negotiations
VERY FINE ANSWERS BY ALL,,,,,, MR.VEHAP KOLA IS EXPLAINED IT NICELY ..........
1. Don’t negotiate: If you are selling, get the value proposition identified and sell to the value. Sell to the customer’s problem, solve the problem and then ask for the money. No negotiation needed. They can make their own decision. Don’t negotiate unless you need to.
2. Don’t negotiate with yourself: Everyone has a tendency to lose some confidence when they do go into a negotiation. They think: how much will I get away with, what’s the other party thinking, what should I’ve really had prepared as an offer? The first thing you do is, if you are selling, lead with your list price. Don’t negotiate with yourself.
3. Never accept the first offer: Never, ever, ever, ever, ever, ever accept the first offer.1) if you are negotiating with an instinctive negotiator, they will be keeping what is best for you, so the first offer is not the best for you.2) if you do it with a professional negotiator, they are not going to break rule no.2, so they’re not going to negotiate with themselves. So, if you see an over on the table, there is always a better one behind it. Not necessarily lower money, but a better can always be made. Therefore, never, ever ever accept the first offer.
4. Never make the first offer: Never make the first offer, if you can avoid it. The point about this rule is: if the other guy is making his first offer, he is not going to break rule no.2, and you are not going to break rule no.3, and accept it anyway. So you never make the first offer, if you can avoid it.
5. Listen more and talk less: When we go into any interaction with another party, whether we’re buying or selling, we have to be aware that we got2 ears,2 eyes and1 mouth, and what we should aim to do is to use them in that proportion. Sometimes called the80/20 rule. You use ears and eyes80% of the time and you use the talking muscles20% of it. The main reason for this is, while you’re talking you always have the potential to break the other4 rules. You could be making, accepting, negotiating with yourself, and even just breaking all the rules. While you’re listening you’ve got less chance of breaking any of the rules. So listen more and talk less. What it means is you don’t show any signal to the person and you don’t give any room for maneuver, and you don’t break any of the rules.
6. No free gifts: Never give anyone a free gift. Make sure, in a negotiation, if someone wants something from you, they work for it. Or they give you something in return.2 key reasons you never give anyone anything for free:1) Today’s free gift is tomorrow’s starting point. If you give to someone a10% discount just because you can, next time when you send them a thousand dollar deal on the table, in their mind they’ve already started with a10% discount. So your thousand dollars deal is actually900 dollars to them before than you can start talking to him.2) After they have taken for granted the10% discount, it’s an additional extra-point that they’re looking after it.
7. Watch out for the ‘salami’ effect: There are two thing that can happen under this circumstance.1) You can do it to yourself. Your solution may be comprised of a main asset or product and several assets and services. You actually make your profit out of the accessories and services, since the competition in the main asset/product may have lowered the price down to a cost level. If you show the individualized prices for each of the solution component, you have given the customer the chance to find out what is more competitive at your solution and pick up that item and leave the rest of the package. So don’t salami yourself.2) Don’t allow the other person to do it to you! Give them a total price. Tell them what you are going to do and then make sure that you look at rule no.1: don’t negotiate unless you need to.
8. Avoid the rookies regret: Everyone walks away asking themselves “could I have done better?”, “should I have done better?”. To avoid the rookies regret you have to be able to answering the three trading questions before you close the deal.1) If I am going to make a concession to the other party, what is it going to cost to me?2) What is it worth to the other guy?3) If I know what is it going to cost to me, if I know what is it worth to the other guy, what do I want in return? Preferably of equal cost to them and equal value to me. So, if it’s going to cost him10 USD to give me100 USD value, I should be able to give him something that costs me10 USD to give him100 USD value. If you can have the right answers for these three questions all the time, you will avoid the rookies regret.
9. Never make a quick deal: Every negotiation you will be involved in has a timescale and a temper of its own. You recognize this when you are part of it. The thing you have to be aware of is when the other party starts changing the temper, usually speeding a lot, what it means is one of the two things:1) They have recognized a mistake you’ve made and they want your name on the paper, so that they can enforce that mistake to their advantage, or2) they’ve seen an advantage for themselves that you haven’t yet valued. What they want is your name on the paper to their advantage. So, whenever you see the other party, changing the speed, usually increasing it and trying to close the deal faster, don’t look upon it as a closing a deal. It’s not a buying signal. It is them trying to take advantage of you. What you do is you slow it down, say “maybe” and then go back and look at the three Trading Questions. Always avoid the quick deal. It is never to your advantage.
10. Never disclose your bottom line: Never tell anyone what your bottom line was. When you close a deal, no matter how friendly you are, no matter tempted it is to get into a conversation with the other party about how the deal went, never tell them how far you could have got pushed. Because you could change what was a win-win into a perceived lose-win on their part. So, never tell them what your bottom line is. Don’t tell them before you go in, not during a meeting and certainly not at the end.
1. be confident
2. research about the company before negotiating
3. don't be needy
4. don't disclose too much information
5. be honest and tactful
6. maintain transparency
7. bargain reasonable rates
8. give reasons to why it will be beneficial to them! (everyone wants something that benefits them)
9. know the product well
10. know the market rates and forecast (Learn the fluctuations and the seasons)
1. Don't take the issues or the other person's behavior personally
2. Don't give anything away without getting something in return.
3. Show the other person how their needs will be met.
4. Focus on the other side's pressure, not yours.
5. Aim high and expect the best outcome.
6. Don't be in a hurry.
7. Don't be afraid to ask for what you want.
8. Listen.
9. Set a goal for each deal point.
10. Be cooperative and friendly.
1: Make preparations far in Advance-Study the issue very very carefully.
2: Memorize all the point.
3: At the negotiation table believe that you are only right.
4: Restrict Acceptance or counter offer in the first part or at the beginning.
5: Carefully use the words with intent to create only the desired meaning.
6: Slowdown with relaxations very miserly that after reaching a peak bargain.
7: Calm, Observing, preference for careful hearing and speak to the point.
8: Go on with impartial attitude--Neither negative-nor positive till it takes a good shape.
9: No signs of your intentions for a lower target for a selling, higher target for a buying.
10: Make sure that you win the situation more favorably than you have kept in mind before coming to the negotiation.
Agree with all expert answers.
I do agree with the answers given by the all professionals
1. Initially Listen to other party with Smile
2. Ask the negotiator about the product if you got any wrong statement from him then Reply him with Right Statement. Here you are done with80% of Negotiation.
3. Dont show him you are in Need of that product
4. Establish a climate of cooperation, not conflict
5. Learn all you can about the other party or his product
6. Dont be hurry
7. be patience and cool.
8. Be faithful with reasonable negotiation
9. Make the other party believe that you have an another ready option
10. Make a fiendly or professional depends on other party.
Remember, everything is negotiable. Don’t narrow a negotiation down to just one issue. Develop as many issues or negotiable deal points as you can and then juggle in additional deal points if you and the other party lock onto one issue.
Crystallize your vision of the outcome. The counterpart who can visualize the end result will most likely be the one who guides the negotiation.
Prepare in advance. Information is power. Obtain as much information as possible beforehand to make sure you understand the value of what you are negotiating. Remember, very few negotiations begin when the counterparts arrive at the table.
Ask questions. Clarify information you do not understand. Determine both the implicit and explicit needs of your counterpart.
Listen. When you do a good job listening, you not only gain new ideas for creating win/win outcomes but also make your counterpart feel cared for and valued. This also allows you to find out what the other party wants. If you assume that his or her wants and needs are the same as yours, you will have the attitude that only one of you can “win” the negotiation.
Set a goal for each deal point. Define your minimum level of acceptance for each goal. If you aren’t clear on your goals, you will end up reacting to the propositions of your counterpart.
Aim your aspirations high. Your aspirations will likely be the single most important factor in determining the outcome of the negotiation. You can aim high just as easily as you can aim low.
Develop options and strategies. Successful people are those who have the greatest number of viable alternatives. Similarly, successful negotiators are those who have the most strategies they can use to turn their options into reality.
Think like a dolphin. The dolphin is the only mammal who can swim in a sea of sharks or in a sea of carp. Dolphins are able to adapt their strategies and behaviors to their counterparts. Remember, even when negotiating with a shark, you have an option–you can walk away!
Be honest and fair. In life, what goes around comes around. The goal in creating win/win outcomes is to have both counterparts feel that their needs and goals have been met, so that they will be willing to come back to the table and negotiate again. An atmosphere of trust reduces the time required to create win/win outcomes.
Never accept the first offer. Often, the other party will make an offer that he or she thinks you will refuse just to see how firm you are on key issues. Chances are, if you don’t have to fight a little for what you want, you won’t get the best deal.
Deal from strength if you can. If that’s not possible, at least create the appearance of strength. If the other party thinks you have no reason to compromise in your demands, he or she is less likely to ask you to.
Find out what the other party wants. Concede slowly, and call a concession a concession. Giving in too easily tells the other party that you will probably be open to accepting even more concessions.
Be cooperative and friendly. Avoid being abrasive or combative, which often breaks down negotiations.
Use the power of competition. Someone who thinks it’s necessary to compete for your business may be willing to give away more than he or she originally intended. Sometimes just the threat of competition is enough to encourage concessions.
the answers were given are very good so i agree with them
