How to engage in successful negotiations?

Opportunities to hone negotiation skills are everywhere. So many aspects of our lives are influenced by agreements with others, both personally and professionally. Invariably, our ability to negotiate the best outcomes will directly influence our success in life, however you measure success. It is the uniqueness of each negotiation that creates opportunity.

 

Tips for successful negotiation:

 

1. Know what you want

2. Six primary variables (Price, Volume, Delivery, Contract period, Payment terms, Specification)

3. Defining a range and setting your limits

4. Do your homework

5. Effective communication skills

6. Objective vs subjective

7. Powerful questions

8. Emotional control

9. The game plan

10. Closing the deal

 

To constructively engage in negotiation means that both parties are willing to explore the issues and, by working together, come to a mutual agreement which is acceptable to both. But to do this requires that both sides understand the options and the consequences of the various choices.

The skill in negotiation comes from positive communication that focuses on the problem, which is an outcome of cooperation; while argument opens up both parties to confrontation and unresolved conflict. While we will probably never be able to avoid conflicts or confrontation, if we learn the principles of negotiation we have a much better chance of reaching a cooperative outcome and positive results for both sides.

set your aim clearly

start the negotiation by asking question.

Listen carefully

uncover the needs

Support the need by the features of your product or service.

Try to arrive at a Win-Win Situation

close the deal. 

Prepare well

And the study of the other party a detailed study

And flexibility

Fully agree with Mr. Divyesh. Just to add in those negotiations process sometimes people loose their patience and expects their prospect or anyone to answer or accept across the table and also immediately what ever they wanted. Emotional control is very important to close the deal.

You must have skills for negotiations, listening is the most important here. And then - using facts

Agreed with the answers to colleagues

My only expertise in negotiating is through family owned business. Looking for new vendors for office supplies as well cell phone accessories. I knew what I wanted, knew what the market and manufacturing prices were, which made it easy to negotiate. I also served on a panel of union workers to negotiate and renew contracts (internship) which was quite an experience considering350 employees and a budget.

Dear Divyesh,

 

First of all you have to know and beleive that Negotiation is a word, a process, and an art. It evokes complex feelings for anyone faced with the prospect of having to negotiate an agreement.

 

Now let me tell you how to engage in successful negotiations:

 

1- Know what you want before you start.

2- Play around the three primary variables that tend to feature (facts, numbers & results).

3- Always talk about (Why, What & How)?

4- WIIFM (What’s in it for me?).. understand what behind.

5- You must understand the Effective communication skills.

6- Control your emotions and attract other impressions.

7- Close the deal, finalize the negotiation.

 

Useful tips

 

- Be clear as to what are your own objectives.

- Prepare thoroughly.

- Practice your pitch.

- Face up to your fears.

- Think creatively.

- Don’t be constrained by what you have done before.

 

Regards,

 

Hany Sewilam AbdelHamid

Head of Business Development

Entrepreneurship Coach & Consultant             

 

- http://www.sewilam.com

- facebook.com /Orkanza

- twitter.com /HanySewilam

Mr. Patel, you asked and answered. I need not add more. I will just concur with you.

Appreciate all the previous opinion,  Preparation is the Key