We live in a world that full of interests. When having a business with the other person, sometimes we have a conflict of interest. As a problem solving, we have to negotiate with them. Negotiate is about two or more people intended to reach a win-win or a beneficial outcome.
Unfortunately, not all the people are good with this. Or maybe you are with this group? If yes, you have to practice to become a good negotiator, as described on the list below.
Understand Yourself: Your Needs, Your Wants, and Your Position
The first thing you have to understand is you have to set your minimum condition, the lowest limit of a condition that you are not going anywhere less than that. Set it first before you are going to the “fighting arena”. Never start a negotiation without preparing it before.
You have to know that you are not going to say “Yes” to this, and you will not be regretting this.
Be Careful of a Focal Point
Another thing you have to pay attention is a focal point of negotiation. When people are focusing on a specific thing, they often forget about the small details. You will suffer some losses that those small things may also important to your business.
As an example, when interviewing for a job, people usually ask and focusing on how much salary they will get. They sometimes forget to consider about another fringe benefit, work hour, and so on. Those are also important for you when taking the job.
Understand Who You Are Negotiating With
Both parties are trying to make the best arrangement for themselves. By looking at their point of view, means take their perspective of words, needs and situation, you can take the best solution for both parties.
Understand the Situation that Framing the Negotiation
Fully understand the time frame. Most of the negotiation is a long-term agreement. You need to realize and take the time to assess the situation. As an example, a negotiation on an office space renting. By offering a low-ball monthly rental price, it could lead to having a begrudging landlord, unpleasant service, unanswered phone call, or anything else.
Make the First Offer
Point out your offer first before the other part. You need to make this offer based on your lowest limit. If you have not prepared, see anybody’s offer. If it is already beyond your lowest limit, consider it. If it is not, make a counter-offer with much higher from your lowest limit. At the end, hopefully, the middle point will be your minimum requirement.
The Power of Fairness
Do not spoil the negotiation by violating another person’s idea of fairness. You should know what the other party consider fair and do not cross the line. Once it’s get violated, all the negotiation that has been built could go wrong. The other party will look at the deal with an emotional manner, and might think that you are not a trustable person.