5 Golden Rules of Business Negotiations

The winner is the one who knows how to negotiate, especially in business communication. Here are the the basics of uneasy art together of business negotiations.

Why do you need to know the rules of business negotiations?

In business negotiations, the use of properly constructed technology makes it possible to outperform partners with a higher status.

70% of all work processes are connected with communication. We agree on something each day, and each situation requires us to have good negotiating skills. 

Consider a simple example: you want to discuss your salary raise with your boss. But to do it competently, you need to take into account the nuances of each stage of the conversation.

  • Preparation. Think about how it is better to approach this question and how to start a conversation.
  • Getting into contact. How to tune your boss in for the conversation.
  • Effective formulation of your request. How to ask the boss about the raise without being too demanding.
  • Presenting your request. How to justify your request to make the boss interested.
  • Working with objections. How to correctly respond to them.
  • Consolidation of discussed agreements. How to sum everything up correctly.

This is just one example of a situation where you will need the skills of negotiation and with such moments you come across every day.

5 basic rules of business negotiations 

The write my essay for me cheap service has prepared the 5 rules of business negotiations that will make any meeting go successfully.

  • Develop emotional intelligence. Periodically ask yourself: what does the interlocutor feel now? How will he behave, based on the current state? After a while you will be able to predict human behavior and control the process of discussion.
  • Study the sequence of the stages of negotiations. This way, you will begin to understand what goals you need to achieve at each stage of the discussion. This will help you conduct negotiations more constructively and effectively.
  • Prepare for contact and possible pitfalls. These are different situations that can arise, based on the experience of the partner, his level of responsibility, and ways of making decisions.
  • It is important to own flexible bundles, that is, be able to improvise and fill pauses. This will smoothly switch the conversation from topic to topic and turn awkward silence into something constructive.
  • Learn to gently manage the progress of negotiations. Summarize the subtotals and competently build questions – this way you will create an information field within which your partner will make decisions.

5 most common mistakes during business negotiations

Here are 5 most common mistakes people make during business negotiations:

  • Lack of flexibility. Negotiations can be soft, tough, and constructive, and each format has its own characteristics that need to be taken into account. It is important to be able to adapt to the format that the partner provokes.
  • Missing the standard stages of negotiations. For example, you can skip the formation of interest in yourself. Without hearing the story about the company, your interlocutor will doubt the reliability of future relationships.
  • Misunderstanding of the needs and values of the partner. If you do not form a clear idea of what your interlocutor wants, then your arguments will not produce the proper effect. In this case, you will have to return to the questions about the needs of the partner.
  • Do not forget to take into account the psychological characteristics of the interlocutor. Some prefer a slow pace of negotiations, so as not to miss a single detail and take a maximally weighted decision.
  • Inability to listen and hear. Often there are misunderstandings in the negotiations that interfere with the development of partnerships.

What to do if the business partner is stronger than you

The counterparty, who has chosen tough tactics of negotiations, most often does it reasonably. That is, he takes a more powerful weight category and is less interested in your decision than you.

However, such an approach does not exclude constructive dialogue and discussion of mutually beneficial cooperation. You can act through a soft strategy: invite a partner to your territory and prove yourself as a hospitable host.

You can increase loyalty to your company by showing production – due to this, managers often receive individual discounts and unique conditions.

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