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What Are Important Negotiation Skills
- January 27, 2023
- 10:25 am
- No Comments
When do you need strong negotiation skills? Every very day! Learn about important negotiation skills to have and how to put them to use.
As a business professional, it’s almost guaranteed you’ll be required to participate in negotiations from time to time, regardless of your job title or industry. In fact, chances are that you already participate in negotiations more often than you realize.
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Negotiating a job offer, asking for a raise, making the case for a budget increase, buying and selling property or equipment, and closing a sale with a customer are just a few examples of the many deals you might be involved in. Outside of professional settings, you’re likely to flex your negotiation skills in your personal life, too.
To excel in negotiation you have to be very much strong both in interpersonal and communication skills. A successful negotiation is the one which produces an outcome desirable for both of the parties involved in the negotiation process. If you’re not confident in your ability to strike an effective deal or want to improve the outcome of future negotiations, there are a handful of skills you need in your arsenal.
Here are the most important negotiation skills which will help you succeed in any form of negotiation.
1. Prepare
Preparation is considered to be the backbone of the whole negotiation success. You have to be very well prepared before starting the negotiation with the other parties involved. It is is very much essential to the whole negotiation process. The more you prepared the more will be a chance to success.
The preparation includes to gain a clear idea of what you hope to achieve and where your negotiation boundaries lie is an essential step in any negotiation.You should also collect ample information about the person(s) with whom you will negotiate to. Without adequate preparation, it’s possible to overlook important terms of your deal.
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2. Build your strategy
Gain a clear understanding of effective negotiation tactics. To develop a strong negotiation strategy, think about the following points: 1) What is your role?, 2) What is your value?, 3) what is your counterpart’s vantage point?
Following this process ahead of each negotiation can enable you to formulate a clear plan of action for the bargaining table. By understanding the roles of those involved, the value each party offers, and your counterpart’s advantages, you can better prepare to work toward a common goal. Checking in with yourself throughout the discussion can also help ensure you stay on the path to success.
3. Build rapport
Although it’s not always feasible to engage in small talk at the start of a negotiation (particularly if you’re on a tight deadline), doing so can bring real benefits, research shows. You and your counterpart may be more collaborative and likely to reach an agreement if you spend even just a few minutes trying to get to know each other. If you’re negotiating over email, even a brief introductory phone call may make a difference. That makes building rapport an essential negotiation skill.
4. Listen actively
Once you start negotiating, resist the common urge to think about what you’re going to say next while your counterpart is talking. Instead, listen carefully to he arguments, then paraphrase what you believe was said to check your understanding. Acknowledge any difficult feelings, like frustration, behind the message. Not only are you likely to acquire valuable information, but the other party may mimic your exemplary listening skills.
5. Communication incl. asking good questions
To be successful in your negotiation process you should have strong communication skills both verbal and written. Any misconception or misunderstanding will halt the whole negotiation process. You should be good enough in communication in order to state your case very clearly to the other party involved in the negotiation to achieve your desired outcome. Also, by asking some very good questions you can gain more and more knowledge about the other party’s position and where to find common ground. Your questions should be interrogative rather than yes or no.
6. Creating value
Creating value in a negotiation is one of the most powerful skills you can add to your skillset. This means instead of following the traditional idea, that each party is vying to maximize their slice with the result that some will be forced to leave with a much smaller piece, experts suggest shifting your goals from growing your slice to growing the whole pie. With this outcome each party can realize greater value and a sense of rapport and trust is established, which can benefit future discussions.
Human beings are born solitary, but everywhere they are in chains – daisy chains – of interactivity. Social actions are makeshift forms, often courageous, sometimes ridiculous, always strange. And in a way, every social action is a negotiation, a compromise between ‘his,’ ‘her’ or ‘their’ wish and yours.
7. Interpersonal skills
Good negotiators have strong interpersonal skills and patience. They keep a good working relationship with all those involved in the negotiation process in order to make the difficult negotiation very much easy. As a good negotiator you should have the skill to persuade rather than to manipulate to reach to your desired outcome.
8. Problem solving
Good problem solving is key. Good negotiators solve every problem with analytical and logical approach that comes in the negotiation process. As a skillful negotiation you have the ability to focus and solve the lingering problem which will benefit both the parties involved rather than to focus on your ultimate goal.
Do you have the important negotiation skills?
MY NU WAYS! Programs offers highly effective Negotiating Coaching and Communication Coaching Programs which will enable you to effectively negotiate with the other parties to reach out to your desired outcome.
Our Self Coaching Programs and Rapid Results Programs help you to make your best interests a priority in your life.
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