Negotiating |
By: Lin Stone
In any type of business one must always be ready to deal with other people. It can be as simple as explaining the situation. For example, someone offered a house for sale at $40,000 and the other party explained: "I'm sorry, the only houses I buy are purchased at wholesale." "Oh," said the seller, then added almost instantly. "Well, you can have it for only $27,900 then" That sounds incredible, doesn't it? Yet it frequently happens just that way. | Most people will do anything they can to steer far clear of situations that may take a violent turn. But there is always the chance that violent behavior can erupt -- uninvited and unexpected. What can you do then to protect yourself from danger? |
| Negotiation is a big part of the business world. Since the negotiation process cannot be avoided, the business professional must equip himself with proper skills and presentation techniques in order to survive in business. Communication skills are a necessity. As my favorite aunt says:: "Suffering in Silence is for fools who can't communicate." The best negotiation tool you can have is enhanced communication skills. When you want to be heard, you have got to speak up. The only way to get a better deal is to ask for it. One gets what one wants based solely on the ability to persuade others, and that takes negotiation, not luck. This is true especially in the worlds of business and finance, which are full of concerns about deals and agreements with prospective customers. All statements must be fair and free of errors. Misleading information and ambiguous terms must be avoided. Word meanings, phrases, and sentences, even whole paragraphs, should all be clear and understandable. |
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| To achieve a successful negotiation, you must possess fairness and honesty. The client believes that all statements coming out of the salesman's mouth are considered as binding. If it becomes obvious that his words are misleading, the salesman will lose his credibility. When this happens then it would almost certainly result in prospect walking out on the deal. As you begin to negotiate, try to observe the situation from every perspective. You should always strive to anticipate every possible outcome -- whether it is favorable to you or not. This attitude will strengthen your negotiation and help you to come up with an agreement that will satisfy both parties. Don't be afraid to offer innovative solutions during the negotiation if you believe they will pave the way to a common goal. Innovative solutions (sometimes mistakenly called compromises) can be very significant in closing a deal. Offer them firmly in order to meet the needs and wants of both parties. Since this is your first deal let me caution you against a common failing among inexperienced negotiators... Once the deal is done, shut your mouth. Avoid offering further, unnecessary alternatives. Once your goal is achieved, close the negotiation and make the deal final. |
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Click HERE for more information that can help you Negotiate like a Champion. Lin Stone has authored seven books and hundreds of articles. Click HERE for Lin's latest stories and articles.
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