Like it or not, you will have to face negotiations in life – especially in business world.
You deal for leases; You deal for contracts; You deal for fixtures; You negotiate with your partners; You deal with your suppliers; You haggle with your customers; And many more. In other words, in any breath you take doing your business, you always face negotiations.
How to win negotiation
- Please keep in mind that negotiation is not a who’s winning and who’s losing game – it is a win-win game. To win negotiation, you have to prepare to lower your standard and initial position.
- In any negotiation process, don’t be the one offering the final deal – let your ‘rival’ offer his final deal, and you decide whether you accept the deal or not.
- Don’t sell yourself too cheap – easily lower your initial offer will make your ‘rival’ think that something you propose is not that valuable anyway.
- Learn the art of knowing when is the right time to fight or schmooze your ‘rival’
- Consider forming a negotiation team or having a third party aiding you in negotiation – lawyers, brokers, etc.
- Always have an exit strategy, so when things get unfavourable and too hot to handle, you can bail yourself out of the dogfight to safety.
Final advice, do a lot of negotiations – nothing better than first-hand experience.
Ivan Widjaya
Dogfighter
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Win/win is nice but it isn’t the only game. You may want to take a look at Jim Camp’s book START WITH NO. There are some serious problems with win/win negotiating, especially when the other side doesn’t use this strategy.
Scott,
I definitely agree – thanks for better explaining :)