Want Seamless and Fruitful Business Negotiations? Try these expert Tips

The world of business negotiation can be harsh, particularly if you’re anxious to establish yourself both as an entrepreneur and as a negotiating force to be reckoned with ~ your success in one area could well have a bearing on your success in the other, so what can you do to ensure that negotiations are as seamless as they are fruitful?

Be prepared:

Before entering into any negotiations, be absolutely clear about what you want out of them, particularly when negotiating costs or terms.  If anyone else is involved and you need to check figures, details or documents do this in advance of the meeting.  Prepare any documents you need, including any vital figures or references and take them into the meeting with you.  There’s no shame in referring to these when needed, it’s called keeping your eye on the ball, whereas there is shame in not having a clue where the goal posts are, making it easier for your opponent to emerge the winner.

Additionally, consider the negotiations from all sides, so that you plan for what the other side might want from you.  After all, preparedness is not just about knowing what you want , it’s also about ensuring that you can be prepared for the other side’s questions so you can plan possible compromises and secure your own areas of bargaining strength.

Be the first off the starting blocks:

Once in the meeting, whether you’re negotiating because you have something the other person wants, or because their input is vital for your business, it’s equally important to take the early lead role in the negotiations.  This will keep you in the driving seat and literally help you to steer the negotiations in the direction you want them to go.   You don’t need to be bombastic or rude about this, but you do need to respectfully ensure that you are listened to and can put your points across early on.  

Be clear, be concise:

And how about getting those points across?  Clarity is everything: keep your thoughts focused and your words concise.  Dithering or appearing the least bit indecisive during the negotiations will instantly give your opposing number the upper hand and also gives the impression that you haven’t done your homework:  at best this adds to their advantage, at worst you will appear extremely unprofessional. 

Remember too that clarity is not just a requirement of speaking and thinking, but also of listening.  It goes without saying that you should be attentive to everything that’s said during the negotiation phase, as you could easily miss vital information and find yourself agreeing to something which is not to your advantage.  If you are unsure, extra information can be subtly obtained by:

• Asking sensible questions: questions put you in the driving seat ~ you become the interrogator and the other person has to answer to you, this helps to reassert your role in the negotiations.
• Add contexts to what has been said ~ for example, talk about what form a contractual agreement might take, for the terms or prices you are negotiating.  This allows you to gain clarity and revise those finer details whilst also holding your professional stance: what could be more professional, or fruitful, than starting to talk contracts?

Be professional:

All negotiations should be conducted on a professional level.  Don’t go in with a “win some, lose some” attitude, but don’t go in with a “winner takes all” attitude either: skills of successful negotiation are very subtle and it’s worth remembering that a true professional ensures that everyone comes out of a negotiation happy and ready to do business.