What skills and abilities one should have in order to enter the negotiation business?

1. Prepare, prepare, prepare. Enter a negotiation without proper preparation and you’ve already lost. Start with yourself. Make sure you are clear on what you really want out of the arrangement. Research the other side to better understand their needs, as well as their strengths and weaknesses. Enlist help from experts, such as an accountant, attorney or tech guru.
2. Pay attention to timing. Timing is important in any negotiation. Sure, you must know what to ask for, but also be sensitive to when you ask for it. There are times to press ahead, and times to wait. When you are looking your best is the time to press for what you want. But beware of pushing too hard and poisoning any long-term relationship.
3. Leave behind your ego. The best negotiators either don’t care or don’t show they care about who gets credit for a successful deal. Their talent is in making the other side feel like the final agreement was all their idea.
4. Ramp up your listening skills. The best negotiators are often quiet listeners who patiently let others have the floor while they make their case. They never interrupt. Encourage the other side to talk first. That helps set up one of negotiation’s oldest maxims: whoever mentions numbers first, loses. While that’s not always true, it’s generally better to sit tight and let the other side go first. Even if they don’t mention numbers, it gives you a chance to ask what they are thinking.
5. If you don’t ask, you don’t get. Another tenet of negotiating is, “Go high, or go home.” As part of your preparation, define your highest justifiable price. As long as you can argue convincingly, don’t be afraid to aim high. But no ultimatums, please. Take-it-or-leave-it offers are usually out of place.
6. Anticipate compromise. You should expect to make concessions and plan what they might be. Of course, the other side is thinking the same, so never take their first offer. Even if it’s better than you’d hoped for, practice your best look of disappointment and politely decline. You never know what else you can get.
7. Offer and expect commitment. The glue that keeps deals from unraveling is an unshakable commitment to deliver. You should offer this comfort level to others. Likewise, avoid deals where the other side does not demonstrate commitment.
8. Don’t absorb their problems. In most negotiations, you will hear all of the other side’s problems and reasons they can’t give you what you want. They want their problems to become yours, but don’t let them. Instead, deal with each as they come up and try to solve them. If their “budget” is too low, for example, maybe there are other places that money could come from.
9. Stick to your principles. As an individual and a business owner, you likely have a set of guiding principles and values that you just won’t compromise. If you find negotiations crossing those boundaries, it might be a deal you can live without.
10. Close with confirmation. At the close of any meeting (even if no final deal is struck) recap the points covered and any areas of agreement. Make sure everyone confirms. Follow-up with appropriate letters or emails. Do not leave behind loose ends.

First of all, negotiationg is a discussion aimed at reaching an agreement. persuading involves being able to convince others to win this agreement over.

Persuading is an art. Some are born with it but it can be obtained through practice and knowledge.

Listen carefully to the projected argument. Focus on the weaknesses and replace them with reasonable alternatives. Give great examples where your idea had a recognizable impact. Be very careful with your words or you might seem desrespectful or degrading the person you are dealing with!

Keep informing yourself by going through articles about human psychology, body language and persuasion techniques. You will be surprised how things go from there. Good Luck!

Confidence and Knowledge on the business

Communications, Presentation, Skills to play chess because you need to answer on spot and you need to practice.

You also need to read and do your home work about the person/company you are negotiating with and you need to be ready with data from the market.  All of those will put you in the front.

The following are the skills and abilities required to enter the negotiation Business:

1. Open mindedness

2. Purposefulness

3. Listening skills

4. Analytical skills

5. communication skills

6. interpersonal skills

7. bargaining skills

What is Negotiation? It’s a process of giving and taking - one has to understand the valuations, for e.g. a seller wants to sell a car, and offers to give first year insurance free, now obliviously the free insurance given will cost the seller some amount, so the seller has to know the value of the free insurance given & must know how can he recover the cost, otherwise he will have to take a hit on his profit margins.  The seller can offer to install a GPRS safety system (not a part of standard feature) and recover a part of the insurance cost.  On the other had the buyer gets a free insurance and GRPS safety system may be a little costly but is assured of his / her car safety. In conclusion Negotiation is an art of giving and taking....

I think the best person would  be who clearly convey his point of view and also have good listing skill.

Strong market knowledge.

Your profit margins.

effective Comunication and soft skills are important.