Most people see success as a path to more rewarding work, better opportunities, and higher income. To achieve these goals, you’ll often need to work with others and to influence their decision-making.
Developing the right negotiation skills can result in higher chances of success. A negotiation class is one way to guide you in gaining the right skills and using those skills in the best way.
Here are a few tips to be a more effective negotiator and contribute to your success.
Work as a Team
Business classes prepare successful people to leverage on the strengths of others. To achieve success faster, avoid solo negotiations and instead aim to work with qualified team members.
When someone works solo, they take less time in preparation and are more prone to mistakes. Being part of an effective team means you can make more thorough preparations, cross-checked by other team members. In particular, team members can plan for alternative scenarios, seeking to cover all bases.
Share Credit
Do you already work in a team? Heed the advice of Thomas L. Friedman, famous NY Times commentator and Pulitzer Prize winner: “If you want to solve a big problem, you need to go from taking credit, to sharing credit, to multiplying credit.”
For many inexperienced negotiators, one of the top leadership mistakes is to overlook the importance of sharing credit. When things are going well, it can be tempting to soak in the praise and recognition. Yet when things fall apart, for these negotiators, there’s more than enough blame to spread around.
Knowing how to share the glory and give credit makes your team feel appreciated for their contribution. Meaningful praise motivates your team to strive for even better solutions.
Collaborate, Don’t Compete
Competition is in our nature as human beings. Most of us view success as being ahead of the pack. That’s why some negotiators view success as a competition. These negotiators tend to approach talks as a winner-takes-all or dog-eat-dog challenge.
What’s your view on winning in negotiations? Is it when you win at the expense of the other side or where both sides trade to increase value for each other?
In expert-led classes for negotiators, attendees learn to win more deals through ditching aggressive tactics and adopting more win-win approaches. Top leaders recognize that competing within an organization can waste time, resources, and goodwill.
Collaboration encourages cooperation and leverages best practices. Both sides have more value to contribute to a collaborative environment than what was initially up for trade. With a combined collaborative mindset, people are more likely to lift others toward success and positively learn from failures.
Socialize
Your business partners, investors, customers, and employees don’t have to be your best friends. However, spending casual time with others in business can supercharge your drive to succeed. When you socialize, you learn things about other people that you otherwise likely would not have known. By socializing, you create positive bonds that can fuel your working relationship.
When you are familiar with your partners and customers personally, it can be easier to come to favorable agreements. People in your social network are likely to say yes to you more often than they say no. Your social circles can also expand your opportunities and introduce you to like-minded people.
Prepare Alternatives
Imagine going into a sales meeting with what you think is a perfect product. Then the buyer comes up with objections , and you have to close the meeting and retreat back to the drawing board. Wouldn’t you increase your chances of winning a deal if you could offer the other side some alternative solutions?
Effective negotiators anticipate objections and prepare alternative solutions well in advance. To be successful, you know that your product can’t possibly be the perfect solution for every prospect. So, ahead of the meeting, come up with different ways you can satisfy the varied needs of different customers.
To increase your chances of success, prepare two or three different offers of approximately equal value.
For example, if you’re selling machinery, you can offer a lower price with limited warranty or an extended warranty for the full price.
Additionally, business classes recommend keeping more than one prospect in line. For instance, if you want to lease office space, identify two or three buildings that fit your needs. If a leasing agent feels you’re only considering their office, the agent may demand more value than if you have competing agents.
Wrapping Up
Being an effective negotiator can boost your success rates significantly. To increase your chances of winning favorable deals, work as part of a qualified team. Engage with the other side in the spirit of collaboration rather than competition.
Keep your tight-knit by sharing credit. Socializing and sharing of credit can foster trust and loyalty. For successful outcomes, create alternative offers that result in win-win solutions.
Title: How to Achieve Success Through More Effective Negotiations (techmoran.com) [$50]
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