3 Successful Tactics For Effective Business Negotiations
How well you can negotiate can make or break your business. It can help you earn more money and even win the respect of your peers. Some excel when it comes to effective business negotiation but if the very thought of it has you frozen stiff, then here are 3 top tips to take you from terrified to terrific.
- Research the topic
Before you enter in to any discussion have a good think through your options. A good starting point is to attempt to understand the other person’s concerns and needs. Ensure you are also clear on what you’d like to take away from the discussion. What are you willing to accept as the absolute minimum take away?
- Control your emotions
Don’t be afraid to explain your needs and what outcome you’d like to see, but do so calmly. When the red mist descends, the more diluted your thinking will be. It’s important to keep your focus on the issues at hand and not on the personality you are dealing with. Don’t worry if the discussion hits a roadblock, as you can suggest the discussion resume another day. This may be the best thing you can do as everyone then has an opportunity to step back and view the scenario in a different light.
- Everyone’s a winner
A discussion should never be about who’s won and who’s lost. Remember there’s nothing wrong with working together to work out a solution that suits both parties. You can achieve this by spending more time listening than talking during your discussion.
Your ability to negotiate well is one of the most vital skills you can develop as a small business owner, so take time to develop it. From bringing in big deals, to arranging finance or hiring staff, sound negotiation skills will play a key part in a lot of what you do, so go forth, be bold and above all, practice!
KashFlow is easy-to-use bookkeeping and payroll software that can help streamline your work processes freeing up more time for you to bring in new clients and keep your business competitive. For a free no-obligation 1-2-1 demo just call the KashFlow on boarding team on 0844 815 5779.