There Are Four Business Negotiation Skills You Need To Know

I believe that everything has its own rules and skills to follow, of course, including the business negotiation, it owns some skills you must know. Here are four pieces of advice that current business negotiation research offers to reduce your overconfidence:

1. Collect information

When the stakes are high, you must overcome the common tendency to spend too much time looking in the mirror, admiring virtues and fretting over flaws. Negotiators get into trouble when they lack information about the other players in the game. For this reason, seek out as much relevant, high-quality information about the other side as you can, and use that information to your advantage.

2. Consider the opposite

One of the best ways to correct the biases in your judgment is to think of reasons why your initial guesses could be wrong. In particular, consider the possibility that the opposite of your assumption is true. Suppose that you are negotiating with a prospective employer and you suspect that the employer is meeting with many other strong job candidates.

3. Find a devil's advocate

Before and during a negotiation, ask others within your organization to question you about your approach and assumptions. If you're the boss, this technique may be politically awkward; your subordinates won't want to tell you that you're wrong. Yet good negotiators base their decisions on high-quality information, not the information that makes them feel good.

4. Don't be afraid to ask

Many people find negotiation stressful and avoid it whenever possible. The fear of not knowing what to say may lead you to assume that you won't get what you want from the process. Note that this prediction rests on the parallel assumption that your negotiating counterpart is an avid, expert bargainer. In fact, it's just as likely that your counterpart is as nervous as you are. Don't let negotiation opportunities pass you by.

A Good Business Plan Is The Most Important

A business plan outlines your strategy for the next couple of years. It may be used to help support an application for business finance or business grants, or it could be just for your own use as a roadmap for the growth of your business. It explains your objectives and the actions required to get your small business from where it is now, to where you want it to be.

The process of writing your plan will help you focus, crystallise your ideas and identify priorities, saving both time and effort. Your business plan will give you a clear sense of direction and a benchmark enabling you to measure progress.

Keep your plan as short as possible as overly detailed business plans can be too cumbersome to use. Focus on the information the reader needs to know. Leave the finer detail for operational or marketing plans or attach information such as technical details of a product in an appendix.

Involve your employees in the planning process to gain both their insights and their buy-in to the plan. This will help you build a successful, committed team. Planning together will also identify priorities that provide useful benchmarks to measure performance.

Keep your business plan realistic. For example, unrealistic sales forecasts could lead to increased overheads followed by a damaging cash flow crisis and drastic cost cutting. It could also damage your credibility, because lenders and other interested parties will quickly see through optimistic plans that ignore weaknesses or threats.

Even if your plan is intended for internal use only, write and present it as if it's aimed at an outsider. Put a cover on the plan and include a contents page, with page and section numbering.

Start with an executive summary of the key points and purpose of the plan. Use charts if relevant, and include business or product literature as an appendix. Get the plan proofread for clarity, spelling and grammar mistakes, and then show the plan to friends and business advisers for comments on how to improve it.

Start with a brief history of the business. When did it start trading and what progress has it made to date? Who owned the business originally? What is the current ownership structure?

Describe your product or service without using technical jargon. If necessary, you can offer the technical detail for people who want to know more in an appendix to the plan.

In general, what makes your product or service different? What benefits does it offer? What are its disadvantages? How do you plan to develop the business?

Learning the Basics of Business Negotiation

Business owners wear many different hats in the course of running their companies. During a typical day at the office, you may need to deal with buying commodities and selling products, interviewing potential new employees and reviewing contracts. One of the main skills that you will want to develop as a business owner that applies to many areas of your business is business negotiation skills. Understanding the basics of business negotiation will help your business to succeed. Although business negotiations are often relegated to professional lawyers and arbiters, in many ordinary business circumstances it is more cost effective to receive training through appropriate negotiation courses, and negotiate terms suitable for your company yourself.

Learning effective business negotiation begins with an assessment of where your company's strengths and weaknesses lie in terms of negotiation skills and outcomes. The best types of business negotiation training will take this type of information into account and create a specialized training seminar that is compatible with your company's business needs. A superior business negotiation skills trainer will also need to determine what level of expertise you wish to achieve from your training, and will suit the training to those requirements.
Effective business negotiation training should offer a hands-on approach for the learners. This is available when a negotiation skills trainer has you work through scenarios you are likely to face in real-world negotiation situations, and gives you the tools and strategies you need to successfully negotiate an agreeable deal. These types of low-stress learning situations are especially helpful in learning sales negotiation skills, so that while you are getting up to speed on sales negotiation you are not hurting your company's bottom line.
As you can see, business negotiation is a process, and negotiation skills can be learned to improve the relationships you have with your clients and create an environment where your business deal will succeed. While you are working at acquiring new business skills, you will want to have contact with your trainer, who can answer questions, provide guidance and assist you in achieving a new level of negotiation acumen.
If there are several employees in your company who work in the area of negotiations, you may wish to have a negotiations consultant provide a group training session. This is valuable because employees can not only learn through personal experience, but can learn through the experiences of others, providing them with a multi-faceted educational environment, and a greater understanding of the skills being learned. For those who require specializing negotiations training, one-on-one coaching is often the most effective ways to rapidly learn new skills and achieve success in business negotiations. Business negotiation can be learned and skills improved with the guidance of expert negotiations consultants.

Starting Your Own Business Needs Teamwork At First

Starting your own business sounds great, but it usually works better in theory than in practice. Most new entrepreneurs exaggerate the potential drawbacks of forming a partnership because they are afraid of sharing management and ideas with someone who might not agree with them. That fear of losing control of your business can hold you back from creating a successful enterprise. If you feel strongly about doing it all by yourself, there are also top business collaboration benefits can convince you to give teamwork a try.

Additional capital Starting and growing a business can take a tremendous amount of capital. Taking out loans can backfire if your business gets off to a slow start or fails in the long run. One or two partners can invest additional funds into the development of your business without putting your financial stability at risk the way loans would.

Access to valuable experience and advice Teaming up with an experienced professional is a great way to instantly improve your skills and avoid common mistakes.

Exchange of invaluable ideas Brainstorming with other people is the best way to figure out what your business needs to succeed. By bouncing around ideas, you and your partner can come up with brilliant strategies that can take your business to new heights. You can even use digital tools like collaboration apps to communicate new observations and ideas in between your face-to-face meetings.

Well-rounded approach to business development and management There are many different aspects to running a business including management, marketing, accounting, research and operations. You might be great at managing daily operations or networking, but maybe you are not so good at market research. Having a partner who excels in areas that you struggle with can help you build a stronger business.

Less stress and more support Sharing responsibilities and tasks with a partner is the best way to reduce the stress associated with building a new business. Collaboration apps can help you stay in touch with each other and on top of your business, so you can always feel like everything is under control.

Negotiating Your Rent To Make A Fair Rental Rate

Whether you're looking for a new place to rent or it's time to renew your lease, now might be a great time to consider negotiating your rent.

"There should always be some wiggle room, and it's worth a shot now more than ever," says Joe Ewaskiw, a spokesman for the consumer Web site ApartmentRatings.com.

How to Rent: Build Your Case

No matter how convincing you may be, the ultimate arbiter of rent is market demand. Does the property owner have many vacancies? Does he or she have other prospective renters waiting to lease the unit? Knowing what your landlord needs is the first step towards leveraging a deal. Before meeting with the landlord, gather evidence of your reliability – past rent history, proof of income, a good credit report -- whatever demonstrates stability.

Have You Successfully Negotiated With A Landlord?

We're curious to hear from those of you who have successfully negotiated with your landlord. How did you do it? What tips and tricks did you learn? Whether you were able to keep your same rent or negotiate an even lower rate, let's hear what you have to say.

Vote in our poll and leave your tips in the comments.

What's A Fair Rental Rate?

One phrase common to nearly every lease negotiation is "market rate." The landlord or property manager will cite the market rate for a particular rental property as cause for an increase in rent.

This market rate may be culled together from the prices of nearby properties or it may simply be a rate that the landlord needs to charge to make a profit. It may also be related to the cost difference in renting v. buying a house in a particular area.

Make your assets work for you

Having good credit makes your position particularly strong in the current economic climate, where many potential renters have much weaker scores, says Turman.

In Turman's case, he and his wife had owned two previous homes before opting to rent. They had good credit and income. "We put ourselves in the driver's seat and let the (manager)/landlord come to us," Turman says. "We... let them know the desirable qualities we possessed and the concessions they would have to make in order for it to work (price, utilities, etc.)"

As a result, he says, "we have by far the lowest rent of comparables in the neighborhood and love our home."

Write down your terms once you and the seller have agreed on a price. The next phase after a price has been agreed on is the negotiation between you and the seller of the rent-to-own agreement details. Include how long you want the rental period to last, such as three or five years, the highest total monthly payment amount you are financially able to pay and what level of repairs you and the seller are each responsible for. Buyers usually make the repairs in a rent-to-own agreement, but some sellers will assume responsibility for major repairs during the rental period.

Meet with the seller to negotiate the final details. Bring your real estate agent if you are using an agent. Mention any specific issues you have with the rent-to-own agreement terms and consider comprises with the seller in order to complete the deal. Contact an attorney to review the proposed rent-to-own agreement before you sign.

Become A Successful Negotiator To Get What You Want

One way or another we’re always negotiating—whether it’s with our boss for a raise, with our partner for rotation on cleanup duty, or with our kids about their curfew. The key is to get what you want, while keeping those around you happy.

Be willing to negotiate in the first place
　　

Some people are too shy to talk about money. Others think it's rude or demeaning. And in many cases they're right. However, when it comes to doing a deal - and we all have to sometimes - being unwilling to engage in "money-talk" can be a very expensive business.
　　
There are a lot of experienced negotiators out there. If you're buying a house or a car, or taking a new job, you can be sure you'll have to deal with such a person. If they can see you're timid about the whole business, many will take advantage of that fact.
　　
You also shouldn't be shy about turning something that may not immediately appear to be a negotiation into one. If I'm buying a few expensive things from the same store, I'll often ask them to throw something in for free or reduce the price. Just because there's no sign saying you can do that, doesn't mean you can't. Often, simply by asking for something extra I'll get a better deal.
　　
Don't get emotionally involved
　　
One big mistake many amateur negotiators make is to become too emotionally attached to winning. They shout, threaten and demand to get their way. This is all counter-productive.
　　
Most deals are only possible if both people feel they're getting something out of it. If the person across the table feels attacked, or doesn't like you, they probably won't back down. Many people hate bullies, and will be more willing to walk away from a transaction if it involves one.
　　
Here are the keys to becoming a successful negotiator.
　　
The Opening: This is not a begging session, nor is it demeaning to ask for what you want. It's an honorable exchange. However, don't come in making unreasonable demands. Keep in mind that this is a give and take, and keep it respectful. Signal your intention to get what you want, but be prepared to offer something in return.
　　
Know that it is not personal: This is the undoing of any meaningful strategy in a negotiation. Being emotional has no place. Fix your mind on the goal, not on how you feel - betrayed, overlooked, left out, under-compensated, unacknowledged. Anger and resentment foreclose any deal, and if you let these emotions take control, you can actually end up with less in the end.
　　
Do your homework: Educate yourself beforehand. All too often, we come to the table unprepared, not recognizing that negotiating is a two-way street with both sides getting something of value. We have to convince the other side with a powerful argument, and that takes preparation. You have to research what it will cost the other side and how you can make it worthwhile. Benefitting both sides, not only saves face, but also provides an on-going working relationship that is anything but all or nothing.

The Comprehension Of Diplomacy And Negotiation Is The Understanding Of Mutually Beneficial Relations

Diplomacy and negotiation. Theory and practice in the framework of conflict studies and international relations.

The is the art or practice of conducting international relations, as in negotiating alliances, treaties, and agreements. According to Morgenthau it is the quality of a nation's diplomacy which gives 'direction and weight' to other elements of national power. Negotiation plays a focal role in dilomacy. The course will explore diplomacy and negotiation, analyzing them in a wide range of topics, from schools of thought to different ways of conceiving the role of diplomacy and negotiation in times of conflicts and peace. Essentail to the comprehnsion of diplomacy and negotiation is also the understanding of basic principles of international relations, a discipline that is presented from the point of view of approaches, from rationalism, to pluralism, to globalism, and case studies.

The concep of conflict is also crucial to diplomacy and negotiation, this is why in the course includes the notion of prevention, of resolution and other with numerous examples, both historical and contemporary. Trying to answer the questions related to the role of diplomacy and subsequntly of negotiation, the course proposes the analysis of different circumstances, such as when diplomacy is used to provoke war, to mobilise public support, to help win a war, to avert war, to thwart attempts to avert war.

A continuous reference to the post-cold war international system will always be made, stressing upon the concepts of unilateralism and multilateralism in foreign policy. Practical exercises such as role playing in situations in which the students will practically experience aspects of diplomacy and negotiation, and a final international crisis simulation will also be carried out during the course.

Case studies prepared on both the Aceh and Kosovo negotiations by Harvard Kennedy School and Harvard Business School will be used to educate Harvard students in diplomacy and negotiation.

Ahtisaari told an audience of faculty and students that at the outset of each negotiation, he stated clearly to all sides what he thought the outcome would be - and then he gave the parties wide scope to reach that outcome. He also said he invoked his own values of fairness and justice to guide him rather than worry about meeting some impossible standard of objectivity.

Ahtisaari was awarded the Great Negotiator Award on September 27, 2010 between two panel discussions that examined his role in developing a final status for Kosovo between 2005 and 2008, and his mediation between rebels in the Indonesian province of Aceh and the national government toward the Helsinki Agreement in 2005.

The award was created a decade ago by the Program on Negotiation at Harvard Law School, and was co-sponsored for the first time this year by the new Future of Diplomacy Project in the Belfer Center for Science and International Affairs at Harvard Kennedy School.

Kennedy School Professor of Practice Nicholas Burns, faculty director of the Future of Diplomacy Project, co-presented the award and moderated the Kosovo panel. As US Undersecretary of State for Political Affairs from 2005 to 2008, Burns had been closely involved with the final status process. Burns said Ahtisaari deftly coped not only with an intransigent Serbian government but with fractious parties within Kosovo and complex dynamics involving the European Union, the United States and Russia.

Harvard Business School Professor James Sebenius, an expert on negotiation who is on the executive committee of the Program on Negotiation, moderated the Aceh panel.

"In all the places I have been involved, in Namibia, in Aceh, in Kosovo, I have known from the beginning what the outcome is going to be," Ahtisaari said. "If you don't, and you don't make it clear where you are coming from, you can waste the rest of your days."

The Group seeks to further develop research into Diplomacy and Negotiation in the Department. It is also aimed at analysing, interpreting and understanding the dynamics of foreign policy making in major, middle and small states.

The strategy for achieving these aims includes holding workshops, inviting outside speakers to present current research, and encouraging publications. We are especially keen to increase our recruitment of postgraduate students by supporting new research initiatives in the area of diplomatic studies. Prospective PhD students interested in any aspect of Diplomatic Studies and Negotiation are encouraged to contact Professor Donna Lee (d.lee.3@bham.ac.uk) in the Department of Political Science and International Studies.

When you begin a game you must first learn something about each of your opponents. Sometimes you will know quite a bit to begin with, but you can also ask people who know the opponent better than you do. You want to know if your opponent is generally reliable or not, what his objective is, whether he is a classical or romantic player, and whether or not he is good at negotiations, strategy, and tactics. (This is a controversial point, insofar as some players—usually the notoriously erratic and unreliable—say that a player’s previous record should have no effect on the game. However, the more you know about another player the better you’ll be able to predict his actions. It would require a peculiar view of life for a player to knowingly ally with someone who has never abided by an agreement in 20 games! Nor would you offer to draw with a player who would “rather die than draw”.

However much some players wish to pretend that they are really government leaders and that World War I is happening just this once, most Diplomacy players recognize that it is primarily a somewhat abstract game of skill, and act accordingly.)

Let’s consider each point you’re trying to learn about, beginning with reliability. Novice players, urged on by the rulebook introduction, usually believe that the winner will be the player who lies, cheats, and backstabs most effectively. Perhaps if you never play more than once with the same people and never acquire a reputation this would be true. But in the long run players learn to treat liars and backstabbers as enemies. Why invite disaster in an already difficult game?

Obviously, for one person to do well in a game with six others some cooperation is necessary, and cooperation is easier and more effective between those who can rely upon one another to some extent. An expert player rarely lies, and then only because the lie is likely to radically improve his position. He prefers to say nothing, to change the subject, to speak of inconsequentials, rather than lie. When he agrees to an alliance of some kind he usually abides by the agreement. By specifying a limited duration—until 190x or until X country is eliminated or reduced to one supply center—he won’t back himself into a corner which would require him to break one agreement or another. When he backstabs (attacks an ally) he stabs to virtually destroy a country, not merely to gain a few centers. The stab leads directly to accomplishing his goal, not merely to increasing his supply center total. He wants to be known as a reliable player because this will make other players more willing to cooperate with him.

Negotiation Techniques Are Critical To Establishing The Internal System

These negotiation techniques are primarily for sales, but apply also to other negotiations, such as debt negotiation, contracts negotiating, buying negotiations, salary and employment contracts negotiations, and to an extent all other negotiating situations. Negotiation is vital for an organization's overall effectiveness. Organizational effectiveness is a product of activities within a system - internal and external. Negotiation is critical to establishing the internal system (structure, people, functions, plans, measures, etc), and the organization's relationship to the external system (markets, suppliers, technology, etc). Negotiation is also critical to optimising the performance of activities internally and externally (principally through communication, by people).
　　
Good sales negotiation - the rules of which feature below - can easily add 10% to sales revenues, which arguably goes straight to the bottom line as incremental profit. Good purchasing negotiation can easily save 10% of the cost of bought in products and services, which again arguably goes straight to the bottom line as extra profit. Good negotiation by managers in dealing with staff can easily reduce staff turnover by 5-10%, which reduces recruitment and training costs by at least the same %, as well as improving quality, consistency and competitive advantage, which for many companies is the difference between ultimate success and failure. Good negotiation by executives with regulatory and planning authorities enables opening new markets, developing new technologies, and the choice of where the business operates and is based, all of which individually can make the difference between a business succeeding or failing.
　　
One of the most important skills you will need before you start your own business, regardless of what business might be, is to learn “How to” Negotiate. Now this subject could, like others in our ebook, fill an entire volume all of its own so we will keep this down to the ‘essentials’.
　　
No matter what you do in your life, personal or business-wise, learning the Art of Negotiation will help you. Every time you buy a car, or a home, or even when you apply for a new job, you are going to be a
　　
“Negotiating” situation. Just think about this, as an simple example. When you asked that new girlfriend out on that first date you were, “negotiating” right up until you got that first kiss, weren’t you? You didn’t know what she was thinking, she was ‘playing her cards close to her chest’ but you kept throwing out little signals, little questions (that is, if you were a gentleman) until you felt that it was time to move ‘closer in’ and ‘close the sale’ and get that first kiss with her.
　　
Obviously you ladies do this in a ‘different’ way but the ‘process’ is very much the same, isn’t it? Well that’s “negotiation”. Okay – now for the more serious stuff.
　　
When you go into a “commercial” negotiation you, being on ‘one side of the fence’, have in your mind (but preferably on paper as well) what you wish to achieve, be it a certain price, certain terms, timing, settlement date, quality issues and so on. We strongly recommend that you have these objectives’ written down, but kept totally confidential, so that ‘in the heat of battle’ you do not forget to cover all of those objectives. This will also help you focus, before your negotiation meeting, on what your main objectives really are.
　　
These “objectives” are what is termed your “Hidden, or Secret, Agenda”.
　　
Raise your BATNA, or no-deal option.
　　
If you are relying on your Chinese counter-party for basic market and business information well into the negotiation then your currency is probably dropping in his eyes. Hire an assistant, or better yet spring for someone more high-powered, but do something to develop your own flow of reliable industry information. Experienced deal-makers who are based in China consider this advice simplistic, but many overseas negotiators never seem to figure out that they are getting all of their data from a counter-party who has a vested interest in keeping things as confused and opaque as possible.

 Add a new player to the mix.
　　
Find an alternate counter-party or spread your risk by taking on additional suppliers or marketing channels. Don’t give away exclusivity unless you are absolutely certain you can rely on your partner – and even then its one of the riskiest decisions a Western negotiator can make in China. Once your Chinese counter-party thinks the balance of power has shifted in his favor then the relationship goes into a nose-dive. Local Chinese are always looking for a bigger & better partner – so should you.

Capitulate.
　　
Give in. Do it his way. Maybe the Chinese side has a point. Maybe you are better off just giving in. After all, there’s a good chance that the right partner really does know what he’s talking about and you don’t. For the non-China expert, this isn’t always a bad option. Particularly true if your business involves marketing within China.

Walk away slowly.
　　
For all their talk of harmony and consensus, Chinese negotiators are basically power-players. They respect strong counter-parties and are opportunistic & cut-throat when dealing with weaklings. If you aren’t ready to walk away, then expect to get taken advantage of. But having a Plan B isn’t enough – you have to know how to deploy this tactic in China. The best way is to be polite – even friendly – and tell your Chinese counter-party, “Well, it looks like we won’t be able to do business this time. Hopefully we’ll meet again under different circumstances. Thanks for all you’ve taught me about doing business here.” Smile and walk away – slowly. In many cases your counter-party will come back with better terms. Even if he doesn’t, you are better off making the move – provided you have already set up an alternative option.

Run away.
　　
If your relationship is truly gone to hell, then your best option may be to burn your bridges and get out of there immediately. Some people are simply more valuable as enemies than friends. If your counter-party is actively stealing from you or worse – engaged in illegal or reputation damaging activities – then you are much better off being the one to terminate the relationship. Running away is different from walking away slow, because in this scenario you have no interest in keeping even a pro-forma relationship going.
　　
A final option that may seem counter-intuitive is well suited for some Americans – force a conflict and make them mad. Yes, this is a risky tactic, but when all else fails you may want to try to shift the balance of power back in your favor by provoking the Chinese side. I’m talking about forcing an open conflict in a situation that you feel has gone so far out of control that the status quo in simply untenable. If pushing you around has been working for them and they consider you a weakling, then you’ll never get this deal back on track. If they want a deal with you and you show a little spine, then they’ll find a way to accommodate. Your worst option is playing the role of damaged goods in a relationship a Chinese counter-party doesn’t value.

Effective Negotiation Can Help You Resolve Some Situations

Effective negotiation helps you to resolve situations where what you want conflicts with what someone else wants. The aim of win-win negotiation is to find a solution that is acceptable to both parties, and leaves both parties feeling that they've won, in some way, after the event.

Where you do not expect to deal with people ever again and you do not need their goodwill, then it may be appropriate to "play hardball", seeking to win a negotiation while the other person loses out. Many people go through this when they buy or sell a house – this is why house-buying can be such a confrontational and unpleasant experience.

Similarly, where there is a great deal at stake in a negotiation, then it may be appropriate to prepare in detail and legitimate "gamesmanship" to gain advantage. Anyone who has been involved with large sales negotiations will be familiar with this.

Neither of these approaches is usually much good for resolving disputes with people with whom you have an ongoing relationship: If one person plays hardball, then this disadvantages the other person – this may, quite fairly, lead to reprisal later. Similarly, using tricks and manipulation during a negotiation can undermine trust and damage teamwork. While a manipulative person may not get caught out if negotiation is infrequent, this is not the case when people work together routinely. Here, honesty and openness are almost always the best policies.

The flinch is one of the oldest negotiation tactics but one of the least used. A flinch is a visible reaction to an offer or price. The objective of this negotiation tactic is to make the other people feel uncomfortable about the offer they presented. Here is an example of how it works.

You need to learn as much about the other person's situation. This is a particularly important negotiation tactic for sales people. Ask your prospect more questions about their purchase. Learn what is important to them as well as their needs and wants.

The negotiation itself is a careful exploration of your position and the other person's position, with the goal of finding a mutually acceptable compromise that gives you both as much of what you want as possible. People's positions are rarely as fundamentally opposed as they may initially appear – the other person may have very different goals from the ones you expect!

In an ideal situation, you will find that the other person wants what you are prepared to trade, and that you are prepared to give what the other person wants.

If this is not the case and one person must give way, then it is fair for this person to try to negotiate some form of compensation for doing so – the scale of this compensation will often depend on the many of the factors we discussed above. Ultimately, both sides should feel comfortable with the final solution if the agreement is to be considered win-win.

Only consider win-lose negotiation if you don't need to have an ongoing relationship with the other party as, having lost, they are unlikely to want to work with you again. Equally, you should expect that if they need to fulfill some part of a deal in which you have "won," they may be uncooperative and legalistic about the way they do this.

It is better to walk away from a sale rather than make too large a concession or give a deep discount your product or service. After attending my workshops, salespeople often tell that this negotiation strategy gives them the most leverage when dealing with customers. However, it is particularly challenging to do when you are in the midst of a sales slump or slow sales period. But, remember that there will always be someone to sell to.

Negotiating is a way of life in some cultures. And most people negotiate in some way almost every day. Apply these negotiation strategies and you will notice a difference in your negotiation skills almost immediately.

Debt Negotiation Is Often The Most Fruitful Way Of Getting Money Back From The Debtor

Debt negotiation is a common process. During this process, people hired by a debtor try and negotiate the loan amount with credit companies. Generally after this negotiation, the loan amount negotiated is not just lower, the debtor is also freed from all the loans after consolidation of all loans after this one.
　　
Negotiating Debt Settlement is observed very commonly inside the commercial collection agency environment, once the person very quickly reaches the dead end of debt trap by mounting consumer credit card debt. Once the credit-based card company is not really receiving the payments for decades, the task is trusted into the collecting agencies, which are recognized for their range diverse tactics of screwing the customer. Now the debtor accumulates defensive attitude and moves towards credit card debt settlement negotiation.
　　
The benefit of negotiation happens that the person who is in debt can pay off at least minimum of loan amount. This saves the credit company from hiring legal teams, filing foreclosure and also trying to get money by selling person's assets. However, in case where the fixed asset is not mortgaged, it is common that the company may end up losing up all the money that is owned by the creditor.
　　
During debt negotiation there are a variety of things taken under consideration. These are the earning capacity, number of persons earning, total income of the family as against total debt and liabilities. This also ascertains whether or not the family or individual will be able to repay the loan. If it is found that the loan cannot be repaid rather only the amount if negotiated can be repaid, in such cases companies allow debt negotiation. If it is found that the family or individual can repay loan the credit company will try to get complete amount from the person.
　　
Most of the times, debt negotiation is done by a credit counselor. This could be a person working privately for a company or could be an independent entity. In both cases, it is the main aim of this person to get your debt reduced considerably. You may have to pay this person, however it does not need to be immediate. At times the payment is determined depending upon how much debt has been actually reduced. Commission payment is always the calculated as percentage of amount reduced in debt. Payment terms are determined by both parties mutually.
　　
Upon reduction in debt, terms of payment, rate of interest and duration of the loan is also determined. Generally after debt negotiation, fresh papers are prepared. It depends on the credit company to determine whether or not credit rating of this person would be affected.
　　
Any moment when was situation of credit card debt settlement negotiation payment agreement when using the lender, almost everything need to be written form duly accepted and signed by the parties linked to presence of two witnesses also filling out the proposal of paper agreement. Moreover the money really should not be paid without the presence of formal agreement getting executed in a very legal manner.
　　
Precious time the debt settlement negotiation efforts take lot of time each time what seem slipping as opposed to reaching to desired agreement. Always get started with an extremely lower amount figure to make sure that after hectic negotiations the number of repayment settled is within the targeted figure for negotiation.
　　
Debt negotiation is often the most fruitful way of getting money back from the debtor, it saves time and also it saves the debtor his dignity. It can also help the debtor in stabilizing his financial status.

Knowing Negotiating Skills Will Take Advantage Of You

Negotiations are vital in any financial transaction. Whether you are a buyer or a seller, it's essential that you know how to ask for the most appropriate terms and conditions that are best for both parties involved. If you're a homeowner who is selling your home by yourself, it's praiseworthy if you know how to negotiate well without offending potential buyers.

A successful negotiation concerning a real estate transaction entails knowing the basic negotiation techniques, the motives of the other party and adapting to their

The key to a good negotiation is being able to communicate your message clearly and effectively to the buyer. Developing a professional attitude without being too emotional about selling your property is as important. If you don't agree to the buyer's purchase price, engage him or her in negotiations. Ask for an explanation about his offered buying price if it's less than your selling price. Did he or his agent checked the prices of comparable homes or did they find any defect in your property?

After considering the buyer's position, you can then decide to lower a little your selling price. Be able to explain how you came up with your price as well. Make sure your calculations and figures are correct so that by the time you negotiate, you are in a strong position. Consulting with a financial advisor is a good step.

Learn about your home's true market value. You can do this by hiring a professional appraiser with the proper license and experience to assess your home and give you a real market value. Another option is to ask real estate agents about listing your home for sale. They usually provide a comparative market analysis showing you the selling prices of similar homes in your neighborhood that recently sold.

Also, be open in discussing property defects. Do allow a home inspection if the buyer so desires. If the inspection reveals defects other than what you know, you can lower your price by a portion of the repair cost. But of course, you can always avoid this by maintaining the good condition of your home so potential buyers will not have any reason to offer a low purchase price. Repair obvious defects in your home before putting it on the market. Repaint walls, ceilings, doors if needed, thoroughly clean your home and remove all clutter and organize your appliances and accessories to create more space.

Be prepared to offer a good deal so that prospective buyers won't need to ask for some major changes in the purchase agreement. You may only have to negotiate on some minor issues like the amount of deposit, the date for your moving out and the buyer's moving in as well as the personal items included in the sale. Make the buyer feel that he is not spending so much for the house. Once you achieve this, the transaction will most likely have its closing on time.

Finally, negotiate only with potential buyers who have been pre-qualified for a mortgage loan. Don't waste your time entertaining buyers who are not serious with their offer. You can ask prospective buyers over the phone if they are pre-qualified. Don't be afraid to ask those who are visiting your house too. There's never any harm in asking.

Useful skills for negotiation are strategies and techniques to overcome your nerves, perhaps through public speaking classes or a professional club such as the Toastmasters. Along with overcoming your nerves the reader will find useful information on how to develop presentation skills, how builds a positive impression, and suggestions on how best to practices these skills. Listening in order to be able to meet the needs of the other person is also covered; strategies on how to hold another person's attentions; how to avoid giving a false impression; how to ask questions so the other person will answer and continue with negotiations; the importance and how to make a positive connection with the other person; the role of humor; the role and importance of body language; how impact cultural background and upbringing play on negotiations; how to check your own body's signals; how to develop empathy, patience, and persistence are also covered in the first chapter.

The next chapter looks at how to use pauses and silence in the process of negotiation. The author details the strategies which will the reader can practice and implement in order to be successful in using pauses and silence the negotiation process. This chapter also discusses ways to say "no" without damaging the process.

Chapter three addresses strategies on how to guard and protect your reputation as a negotiator; how other may perceive your negotiation style; way to treat the other person with respect; the importance of telling stories and how they can backfire; suggested tactics; how to avoid the blame game; the importance of knowing the value of each point to each party involved in the negotiation process; what are the important elements of a successful negotiation; how to reassure the other person; and the importance of keeping records of the negotiation agreements.

The following chapter is dedicated to how to deal with aggression; how to avoid their attitude affecting your response; the possible reasons for a forceful approach; how to identify their real motivation and what to do; how to handle the offer of "splitting the difference" to benefit you; how to ensure a win-win agreement; and the importance of focusing on the benefits and features above the price; how to handle indecisiveness; the importance of painting a picture for the other party; what are the elements of a standard practice in negotiations; what it means and how to handle "subject to outside approval; and the importance of timing.

The next section focuses on the tactic of "good cop and bad cop" and how this can be beneficial in the negotiation process; how to handle last minute additions to the agreement; and a list of other tactics.

The following section provides detailed steps on: what to do before the negotiations begin; steps for proper preparation and it importance. The author provides a list of things you need to know before hand: your figures, your options, your desired outcomes and as much as possible about the other party. The author points out common errors and how they impact the negotiation process; the importance of knowing who has authority to make the deal. There is a list of things you need to find out about the other party such as how important is the deal to them; are they under pressure to get results; is the pressure do to time and/or financial constrains; and are there other strong prospects. There are steps for preparation: plan exactly how you will present your offer; how to identify possible responses for the other party; how to identify other points which you don't want the other party to bring up and how to handle it if they do; make a list of possible concessions or bonuses; and make a list of all the things you need to get from the deal.

The next chapter looks at how to deal and identify your prime objective and fallback options. There is a discussion on the importance of having the option to say no to the deal/negotiation process; how your physical health will impact the negotiation process; tips on handling stress and traveling; and how to gauge the value of an item. There are six points to determining the value of an item: what was paid for it; what it cost to make; the value of its components; the replacement costs; the benefit to the buyers; and the value after one year.

Successful Negotiation Strategies And Tactics Give You Important Progress

Many untrained individuals fail to realize that negotiations is a "people and relations" technique, and not a "force the other person" concept. People who enter into a negotiation simply wanting to get the most he can, without considering the needs of the other side, almost never gets an optimum result. Trained negotiators realize that it takes "give and take," and learning the needs of the other side.

An effective negotiator always does his homework about both the overall industry that the negotiation is related to, as well as the specific needs of the party that he is having his discussion with. There is an extremely delicate balance in negotiations, as well. Ask too little and one may be giving up important concessions, which may cost his side lots of money. On the other hand, ask too much, and there are a few possible scenarios. One possibility is that your "opponent" may become frustrated, or feel that you are not negotiating in good faith, or that you cannot possibly be pleased or satisfied, or that if he accepts your terms, it is not profitable and/ or worthwhile to his side. In that scenario, negotiations may break down, or be discontinued completely. Another possibility is that the other side, because of economic pressures or miscalculation, gives in to your "unworkable demands." While the latter may appear great to the negotiating novice, this second scenario is often disastrous because when "push comes to shove," the other side realizes it must "cut corners," and you end up with an inferior result.  To know more about successful negotiation strategies and tactics, browse through the article below.

Disagreements over certain things, have always led people to fight or have 'cold war'. Trivial things, if not solved through dialog, often tend to become issues over time. Brothers disagreeing with each other over a business decision, husband and wife having issues relating to child care, or employees resenting their employer are very common conflicts, which can be solved by successful negotiation. To answer all such problems, you should have the ability to manage such situations with good convincing powers and reach to a resolution that is equally beneficial for both the parties.

Goal of Negotiation

The goal of negotiation should be such that at the end, whatever the outcome or solution, it is beneficial for all and everybody comes out as a winner. In a successful negotiation, there is no 'I' or 'You'; there's only 'We'. That's the main motto of a successful negotiation strategy. It is often seen that 'losers' will always try to defy and retaliate against the 'winners'. This is where the 'ego' enters and problems start.

Successful Negotiation Tactics
Proper business communication is a key element in effective negotiation in large or small organizations. Communication involves understanding, listening properly to the other person and speaking in a convincing manner. These tactics are dealt with below.

Speaking
Convincing someone with your speaking ability is the greatest gift of all, that guides a person to great heights. One example is Adolf Hitler - however bad the history may highlight with him, he ignited the minds of many by his ornateness. Convincing is explaining the problem to the opposite party in a clear and concise way. The main emphasis should be on the use of words. For example, "I go mad when you" is used rather than "I become upset when you". The former statement is too aggressive and can lead to more bitterness between the people.

Listening
A very important tool in the art of successful negotiation is the ability to listen carefully and encouraging the other person to share thoughts and feelings. Listen, and then give a positive feedback. This will have a positive effect on the person, who will then likely listen to you with attention too. Encouraging the person by making an eye contact when he is speaking or saying, "I fully understand that you want to say...", etc., makes the person feel that you are into the dialog with interest. Poor listening skills land you in more trouble.

Understanding
Understanding each other's concern is the beginning of a successful negotiation. If you are a good listener, you will surely understand the other person's problem. Body language, facial expressions, hand gestures and eye contact are few things, that tell about a persons thoughts and feelings. Make statements that encourage communication like, "Do you want to talk about it?".
Successful Negotiating Tips

• Show respect and understand the other person's values and beliefs
• Recognize and define the problem
• Look for different possible solutions
• Be reliable
• Communicate properly

Negotiating successfully is an art that comes with time and by practicing all the above. Be patient; never be in hurry to solve a problem. Understanding the other person will help you to approach the problem better.

Business Communication Skill Makes Negotiations Successful

Any successful leader knows that at the core of any plan of growth lies the need for exceptional business communication skills. Everything that happens around you is the result of some negotiation. Any plan of action, any campaign, any decision - you are negotiating at every step of the way. You want the other person to agree and work with you - whether this is your co-worker, team member, boss, top management or a person outside your business.

When you are negotiating a contract with your AV supplier, it is best to keep the "win-win" mentality and attitude right from the start. Both the event meeting planning company and the audio visual firm want to achieve the best deal for their respective organizations. For the planner, it is keeping their costs down and for the AV company, it is keeping their profits up. So how can we do this? Below, are six common sense, but creative ways, to work with an event audio visual rental company and make everyone come out of the negotiations with a smile on their face.

What Makes Negotiations Successful?

So, what type of business communication skills do you use to win a negotiation? The term 'winning' -used very often - is actually a wrong connotation because when you say 'win' the implied result for the other party is 'lose'. Thus there is likely to be acute resistance from the party with whom you are negotiation. The keyword for success is win-win; in other words, a middle path that makes both parties happy.

Is it possible that you will always be able to work out a win-win situation? Is it possible that you will be able to resolve conflict with this approach? Common sense says that this is not possible. So, what do you do? The answer is, you use your exceptional communication skills to project it as a win-win situation to the opposite party.

How Do You Orchestrate A Win-Win Negotiation?

There are many ways of helping the other party to see your point of view. That is the key to any growth plan. The easiest way to do this is when the other party believes that this is a win-win situation for both of you. How do you do this?

Do your homework thoroughly - you will need to come across as confident at many of the points in negotiations. Good business communication skill would entail that the other person believes you. This is possible only when you know the whole story (your side and their side) inside out. Before you set out for any type of negotiation, you need to do your homework.

Prepare for the worst case scenario - you cannot negotiate anything if you are scared of the outcome. Fear has a way of showing itself, and when you are fearful you cannot stay in charge of the situation. The dictates of stellar business communication skills demands that you never show fear, hesitation, doubt - unless these would help with the outcome of your negotiation and you are knowingly showing this doubt or fear.

You can be fearless only when you are aware and prepared for the worst case scenario. It is like you have nothing to lose as you are prepared with Plan B, Plan C and a Plan D if required. Being prepared means you also have excellent business communication skills.

Negotiation Strategies Help The Companies To Expand Their Business

Negotiation is something that we often encounter in our lives. Be it bargaining at a local vendor's shop or convincing our friends for an outing to a favorite destination. But when it comes to the business field, negotiation skills are the keys to unlock the doors of success, create profit and large turnovers for the company. Negotiation is inherently both, an art and a science. Art, in the sense that it involves excellent communication skills, leadership skills and tolerance. Moreover, negotiation is a science as it requires a thorough knowledge of the market, economy and finance. How well a firm would perform in the political landscape of a corporate world is totally dependent on the skills of its negotiators. For organizations, negotiators are generally their executives and managers.

Negotiation Strategies For Managers
Middle level managers and upper level managers are the chief architects in designing negotiation strategies for companies. There are various facets of a successful negotiation strategy that can increase the prospects of earning a lucrative deal.

Clarity in Objectives
It is a common saying that "If you fail to plan, you plan to fail." Before beginning any negotiation talks, make sure that there is a definite goal about what you exactly want from the deal. For example, you may need more time to pay off a loan, so a clear explanation to the bank is essential. A crystal clear goal conveys a positive message to the negotiating party. However, having a definite aim doesn't mean that you need to compromise on terms and conditions set by the other party. A flexible outlook is always helpful. Often, the interest of the other party must be taken into consideration. The idea is to make things better for both the negotiating partners, without hampering the core objective(s).

Communicate Correctly
Communication is an art and business communication is the best example of it. Before holding talks with the firm or a person, ask them if a mail, phone call or video conferencing technology can be used for their convenience. A concern about your client/partner's comfort shows your respect of good business etiquette. On the day of the appointment, try to be precise and yet effective in explaining your goal to the other party. You need not explain everything in the first go, just mention your goals and show that your deal/project has a long term prospect for both the parties involved. Mostly, face-to-face communication or meetings and conferences are preferred by companies. It is obvious because deals and projects are not just transactions or money transfer, instead they involve many facets of a business. A positive body language is bound to make a big difference in negotiating.

Maintain Trust and Influence
Trust is a necessary element that lubricates the negotiation process. When your aspirations are clear and you respond effectively to the negotiating partner, mutual trust evolves with time. Influence here, should not be confused with dominance. If you are a project leader and you are dealing with another firm, you can announce discounts, awards and bonuses on closing a deal or on achieving the targets after closing the deal. Similarly, you can put stringent rules (in case deadlines are not met) on failure to achieve a target. Such types of measures are adopted in civil engineering projects that have time constraints during which the deal must be finalized.

Negotiation Techniques For Executives
Negotiation skills involve understanding and applying negotiation techniques in order to increase your firm's competence in the challenging global economy. What are these techniques and skills that will set you apart from your business competitors?

Cross-cultural negotiations
Negotiations involving international companies require more in-depth understanding of the global market, not to mention knowledge about intercultural communication. Besides, the executives need to handle mergers and acquisitions in a careful manner as they need to follow the norms set by the international companies. Even while starting a joint venture with a firm, negotiation skills are of the utmost importance.

Negotiating in Teams
Nobody can deny the crucial role of teamwork. An excellent team has the ability to turn the fortunes of the company. However, view points of the team members about a certain deal may differ. An executive need to apply strategic thinking and resolve the differences among the colleagues. The fundamentals of conflict management can also be used for solving disagreements amongst the partners and negotiators. The role of a proper human resource management is very important in motivating and keeping the teammates connected.

Successful negotiations are a result of confidence, power and ability to convert threats into opportunities. The Indian based Tata group acquired the iconic British automobile giants, Jaguar and Land Rover from Ford Motors in June 2008. This is a classic example of a successful negotiation between large corporate entities. Negotiation skills sharpen with experience and play a vital role in shaping the future of a firm.

Win-win Negotiation Works Towards Securing Mutual Benefit

Do you realize how much time we spend negotiating with others in our day to day life? Whether it is sealing a high-powered deal at work, pleading with a traffic cop on a perceived violation or simply getting your ten year old to finish his homework, negotiations are found wherever relationships exist. Negotiating a way out of a conflict is probably the best way to handle a potentially tricky situation; but it's required as much when you're trying to strike a bargain at the local flea market. Love it or hate it, you just can't ignore it.

The popular perception is that such discussions generally run on parallel tracks, with each party trying to secure the maximum advantage for themselves. While some negotiations may well favor one party, a win-win negotiation works towards securing mutual benefit. The win-win negotiation technique is employed when there is a desire to maintain a long term, harmonious relationship.The objective is to ensure that both parties feel good about the outcome, once the deal is struck.

A win-win negotiation is based on the premise that the stance of the negotiating parties is rarely as opposed as it appears to be at first glance. It thus seeks to find and exploit common ground, and build an amicable solution that aims to maximize joint outcomes. If you're thinking that sounds a lot like motherhood and apple pie stuff, think again. A win-win negotiation is for real, and we'll show you how!

Believe in it. Get into the groove by wanting to reach a mutually beneficial solution. Experience shows that the outcome is strongly influenced by the way the two parties approach the negotiating table. Keep the other party's interest in mind, along with your own. If things are deadlocked, consider allowing low impact concessions - something that brings them value, without taking too much away from you.

Define your needs. When you plan your negotiations, take some time to think of your most important needs, as well as those of the negotiating party. Some people approach a discussion with the sole intention of "winning" every point - hey, that's not how it works. If you have a clear threshold in mind, you'll be able to devote your energies towards making the discussion work, rather than maintaining the score! This is also called a Best Alternative to a Negotiated Agreement (BATNA) - an alternative scenario should no conclusion be reached. In a win-win negotiation, it is important that the end result betters the BATNA of all partners. A word of caution, here - don't give away your minimum position too soon, or you might end up on the losing side of the bargain.

Don't get personal. Bringing personalities into it is an absolute no-no. Remember that the goal is to solve a problem, and driving people away by launching personal attacks will get you nowhere. Stay objective at all times, leaving your ego and emotions at home. If the other guy is letting off steam, let it blow over. You'll probably strengthen your position that way.

Stay in the game. A win-win negotiation is most likely to be a process, rather than a one-off event. There might be a past to it, and you can certainly expect a future. Therefore, be prepared for iterations, with proposals and counter proposals trading back and forth, till final agreement is reached. It's important to devise a clear strategy beforehand.

Set the stage. Reminding the other party of failed discussions in the past is not the best way to approach what you hope will be a win-win negotiation. Steer clear of the blame game too. Choose your tone of voice, facial expressions and body language with care, as indeed the actual timing and location of the meeting. Last but not least, give the other speakers your undivided attention, and impress them with the sincerity of your intentions. A successful win-win negotiation is but a handshake away!

The differences between influence and traditional negotiations:
Many professionals have to influence others internally to receive data, supporting materials, accounting information and implementation help. These internal departments or teams have many people who are requesting the same type of information or support. For example, a benefits plan representative may rely on a partner outside the company like a financial advisor or insurance broker to sell the plan to a client's human resources professional.

This same benefits plan representative may need marketing materials from the marketing department to support the sales arm and then different information to inform the client's employees once the plan is selected. The representative may need to co-ordinate the efforts of the IT department and the client company's technology department to ensure the technical requirements are met. There may be a training arm for implementing the plan, customer service functions and, of course, billing to ensure payment. Most likely, that benefits representative is under a strict time frame and can only rely on good graces, past dealings, wit and an ability to influence to get those resources aligned correctly.

Like the benefits representative, your success can depend on whether you can influence those people to process your requests first or at a high enough level of quality. You have no power over them and do not want to go around them if possible because you must continue to work with them in the future.

As You Progress Through The Negotiation Process

A key part of the negotiation process is preparation and the side that is best prepared normally has the upper hand.  This includes having a clear list of your objectives and the areas that you are willing to compromise.  It also means researching your adversary, their objectives and the underlying rationale.  The more information you have, the better.  The icing on the cake is to anticipate potential areas of disagreement and having alternative solutions ready.

A key concept introduced in the workshop was the concept of “Wish, Want, Walk”.  Before any negotiation, have these 3 things ready.  The ‘wish’ is your dream goal or result.  The ‘want’ is where you think the negotiation will end based on external market forces.  This is where a majority of negotiations are closed.  The ‘walk’ is the point at which it is better for you to leave the table.  In other words, you are losing too much money, pride, status, etc. and are simply not worth it.

It is important to frame an offer before actually making one.  By framing, I mean creating a positive atmosphere and building attraction towards the offer.  It can be viewed as the momentum building phase that leads to the offer.  An example from daily life is the rousing speech given by a presenter just before the big comedian, singer, etc. comes on stage.

Contrary to what most people think, your first offer should be well above your ‘wish’ point.  For example, if your dream result is to sell your company for $1 million, your first offer should be well above this point (e.g. $1.5 or $2 million).  Studies have shown that when one side throws out a number that is higher or lower than expected, the other party has a tendency to move their opening position closer to the opening offer.

Never make the first offer if you are unprepared.  You may be setting yourself up for a big loss.  Conversely, your opponent might call your bluff and ask you for your rationale, which will reveal your inexperience and lack of preparation.  The most advantageous situation is to make the first offer (above ‘wish’ point) and being prepared at the same time.  After you make your first offer, it is important not to say anything.  You already framed your offer and elaborated your points.  There is no further need to justify yourself.  It’s now up to the other side to make the next move.  This also applies for any counter offer you make.

As you progress through the negotiation process, don’t forget your ‘wish, want, walk’ list.  As well, be sure to really listen to what the other side has to say.  If things heat up, you can always leave the negotiation table and take a break.   When things cool down, you can resume talks.  A key thing to remember is that you should never get emotional or take things personally.  Negotiation is an everyday process and you should view it as such.  Furthermore, if you are well prepared, an offer you consider outrageous or ridiculous will be very easy to ‘deconstruct’.

Secondly, the negotiation process will go a lot smoother if parties adopt a ‘win win’ attitude.  It is always better when both parties leave the negotiation table content with the settlement.  They may not have won on every point, but they don’t feel cheated.  An exception to this is when one party has a clear need for the deal.  Naturally, the ‘needy’ side will have to compromise a lot more than the ‘less needy’ side.  For example, in the recent $4.75 billion purchase of NB Power by Hydro Quebec, many people were shocked at the thought of giving up energy sovereignty to an outside province.  However, the ‘needy side’, in this case, NB Power, had been crippled by financial debt and was a financial disaster in the making for many years. One side clearly needed the deal to be done.  The process described in this post is more applicable when two parties are on more ‘equal terms’.

Keep all these principles in mind the next time you are negotiating with a supplier for lower prices or an employee wanting a big raise.  It will increase your chances of success and make the overall process a lot less stressful.

c Techniques

Just preparing properly for a job interview is not enough, you also need to consider salary negotiation tactics before going for an interview. Salary negotiation is the art of obtaining the best salary possible, directly proportional to the responsibility of the position that a candidate is seeking. If you are about to face a job interview in a company you want to work in, it is very essential for you to learn the art of negotiating salary. By learning this important art of negotiation, you can assure yourself of a good pay package from the very start of your job in a particular company.

You need not wait for performance appraisals which predominately count on your productivity and performance. The pay package is the most significant thing that both the candidate and the employer are interested in. The candidate will try his best to increase his pay, whereas the employer will try to offer the candidate the lowest salary but with the same job responsibilities. Here are some of the most important job salary negotiation tips that you can use to get yourself a salary that is in sync with the position you are applying for.

Obtain Few Job Offers
To increase your leverage to ask for the best salary, you need to have in hand some good job offers which may seem competitive to the job you are intending to get. It is considered that having few job offers in hand not only gives candidates a chance to practice their salary negotiation tactics with different organizations, but also gives the candidate a certain amount of security and confidence in asking for a higher salary. Possessing job offers relevant to the position you are applying for gives you the advantage to negotiate a salary which is deserving and according to your skills and capabilities. Having many job offers also enables you to negotiate salary with several different companies, and choose the place which provides the best pay package. Employers tend to offer you less salary if they come to know that you do not have any other job offers, and this is your only chance of getting a job.

Position Yourself as a Beneficial Candidate
To boost your salary negotiation skills, you need to position yourself as a valuable and 'absolutely necessary' candidate, which any potential company will not want to let go. Your exceptional value and worth can be displayed to the employer via your resume, the way you perform in the interview, your dressing style, preparation of the potential company's information, and of course, your skill set and experience. You simply need to remember that the commencement of salary negotiations in a job interview can only be done after the employer is assured of your exceptional value and worth.

Conduct Salary Research
A person who has carried out salary research is more likely to succeed in salary negotiation, than one who is not aware of his salary range. For the purpose of negotiating the best salary possible, it is essential to conduct an exhaustive salary research to determine what is the standard pay for executives with similar experience and education in the same field. An elaborated research like this would effectively enable potential candidates to assess what the lowest and highest pay packages are. It would also enable them to put forth a demand for a suitable salary range during negotiations. You should also take in mind that the salary range may largely depend on the state you are working in or the state you intend to work in. If you get a job in a large reputed company, you are more likely to receive a good pay package. The primary factors and determinants for assessing salary ranges are the job description, kind of industry, size of the organization, location of the company, the candidate's educational status, and most importantly, the work experience. These factors would efficiently enable you to place suitable quotations during a pay package bargain.

Correct Time for Salary Negotiation
The art of salary negotiation is the most crucial factor for obtaining the correct salary. You should try to obviate premature commencement of salary discussion. You should start the essential salary negotiation only after the interviewer asks about your requirements and expectations. If you mention the salary factor earlier than necessary, you may be opted out by speaking of money too soon. You should let the interviewer take the first step in salary negotiation, and then you can proceed with the conversation. Many times, it is difficult not to talk about the salary range, particularly when questioned about your pay history and expectations. Just remember that the sooner you start negotiating a salary in an interview, the lesser are your chances for succeeding in the salary discussion.

Offered Salary Considerations
Do not underestimate your value and accept what is offered, even if you need the job urgently and have no other alternative. Stave off such desperate decisions, since even the best offers need to be properly critiqued. That being said, you should also never reject offers straightaway when the salary is a lot lower than what you anticipated. It is recommended to ask for some time to think on the matter before declining the offer. Moreover, a majority of employers would give you some time to think about the salary they are offering and the salary which you expect to receive. If the offered salary is very low, you do not have any choice than to decline the offer. However, if the salary offered is acceptable but not as per your prospects, you need to take in mind the other benefits

Effective Sales Negotiation Skills And Techniques

'Negotiation' is the most important skill, that a salesman should possess. It is only your negotiation skills that determine your sales. Here's some advice on how to gain effective sales negotiation skills and techniques.

You may be a person who does not like to negotiate, but often ends up in positions where negotiation becomes necessary. Most people wrongly think that negotiation skills are only for salespeople. But, imagine a situation where you are planning to sell your house. Now, without negotiation you might end up getting a price that's much lesser than what your house deserves.

Think of the losses you might have to incur, just because of poor negotiating skills. Thus, reasonably good negotiation skills can benefit you greatly, even if you are not in the sales business. For people in sales businesses, excellent negotiation skills are a must. Your sales depend upon your 'sales talks' and the price you fetch for your product, entirely depends upon your negotiation skills. Consider following guidelines for effective sales negotiation skills and techniques.

Understand Your Product and Evaluate Customer Feedback

The first step towards excellent sales negotiation, is to thoroughly understand your product. Study your product or service well, and evaluate the values that you have to offer. Seeking feedback from your customers is crucial to sales success. Your customers can give you a better idea about your weak points, and the areas where your competitors score over you. Always be open to suggestions and criticism from customers. They are pivotal in improving your product. Understanding your weak points can help you in the preparation of an explanation and swiftly sail you through tricky questions, during a negotiation.

Understand Your Competitors

Conduct a market research and find out who the major competitors are, in your chosen product line. Research the tactics of these contenders and plan accordingly. Identify your strong areas and assert them positively, on the negotiation table. Refrain from criticizing your competitor's product, as that would make you look too desperate to sell your product.

Plan a Sales Strategy

Plan a sales strategy with your marketing team. Develop a line upon which to act, during a negotiation. Adhere to those guidelines while you are actually negotiating.

Understand Your Customers

Only customers can tell you what motivates them to buy your product. Hence, ask them key questions and try to figure out what this motivation is. You may get a general idea, depending upon your sales expertise and past experiences. Understanding their motivation can determine your next step in a negotiation process.

Focus on Value and Not on Price

Always emphasize upon the values and the benefits your product is likely to offer to the customers. Smartly avoid any price talk, especially when your product in leading in that area. If possible, dodge direct price related questions. The customer is anyway going to get it straight, as the price is the foremost factor that influences his decision to buy. Until then, keep flashing your 'value card'.

Do Your Homework

Last but not the least, do your homework properly. Asses all the situations and prepare yourself accordingly. The other party is likely to come well prepared as well, hence have a backup plan ready to deal with their plan.

On the Negotiation Table

No matter how hard you prepare for a particular negotiation meeting, it is only your actual performance on the table that determines your sales. Do not chicken out if you find the situation going out of hand. Stick to your plan as far as possible, but do not hesitate to take drastic decisions, if you must. If you do not see a profitable situation for yourself, try to reduce your losses and attain a win-win situation for both the parties.

Negotiation skills are seldom inborn. You have to take efforts to develop these particular skills. Excellent negotiation skills can take you a long way in your business.

3 Keys To A Win-Win Outcome In Negotiation

Some negotiators have a strong reputation for consistently achieving win-win outcomes in their negotiations. To achieve this favorable reputation for yourself, keep the following guidelines in mind.

1.Avoid narrowing the negotiation down to one issue.

Focusing on just one issue sets the scene for a win-lose outcome. For example, let’s say you want to buy a hundred computers for your corporation and your budget is $1,000 per computer. The model you prefer is listed for $1,400 per computer. You might be tempted to lock onto the price issue and do your best to get the computers discounted to $1,000.

A better strategy would be to bring up additional deal points to negotiate, such as delivery date, financing, upgrades, warranty, training, and support-all of which contribute to the overall “price” of the product. Bringing multiple issues to the table provides the opportunity for you to “juggle” the deal points to create a win-win outcome.

2.Realize that your counterpart does not have the same needs and wants as you do.

 If you do not take this factor into consideration, you negotiate with the idea that your gain is your counterpart’s loss, and vise-versa.

In the computer example above, most negotiators would assume that the number-one goal of each counterpart would be to get the best respective price. But if price were the most important factor for all buyers, they would all purchase the cheapest computer, and no other model would ever be sold! The reason there are so many models is that buyers almost always have needs other than price that drive the outcome in negotiations.

3.Do not assume you know your counterpart’s needs.

Each counterpart in a negotiation usually has both implicit and explicit needs. Generally explicit needs involve the product or service. Examples include price, delivery date, terms, warranty, service agreements, training, support, and upgrades. Implicit needs involve the negotiator personally and include such things as reputation and credibility, a feeling of being “right” or being liked, a sense of importance, trust in the relationship, loyalty to a company or its product or service, approval of the boss or a significant other, a sense of safety and security, and the ability to act autonomously.

What is important to note that is in a negotiation, it is always the implicit needs, not the explicit needs that drive the final decisions to move ahead and proceed to a win-win outcome. Remember, to better understand the implicit needs of your counterpart in a negotiation-and have a better chance of bringing the negotiation to a win-win conclusion-you need to ask questions and listen carefully to the responses.

7 Steps To Win-Win Negotiations

We define a win/win negotiation, as an agreement that is equally beneficial to everyone.  All parties come out of a negotiation with a workable agreement that benefits everyone involved. If your current negotiation strategies are not working for you, change your strategy.Think win/win and let the other person know about it right away. 

Be up front and explain your strategy.  Talk about the benefits to both of you from this approach.  This type of negotiation will produce a satisfactory agreement for both sides, and in a style that will leave both parties satisfied.

Win/Win Negotiation involves these seven steps:

    1.UNDERSTANDING PEOPLE - People negotiate with people. Getting their agreement that a Win/Win approach is fair and good for business over the long haul.

    2.UNDERSTANDING THEIR INTERESTS AND ISSUES - Both business and personal. Know what the win/win looks like. Determine how you can satisfy what they are looking for and what you are looking for.

    3.EXPLORING AND INVENTING OPTIONS - Brainstorm several options that make sense.

    4.KNOW WHAT YOU WANT - Know what you want the deal to look like after the negotiation.  Specifically, what will make this a fair arrangement for you?

    5.KNOW WHAT THEY WANT - Interview all the key people involved. Make sure you understand what they want.

    6.DO YOUR HOMEWORK – Understand their motivations style and adapt your style to address these motivations. Research answers to the important issues involved in this negotiation in advance.  Consider the important questions and concerns everyone will have.

    7.FINDING MUTUAL SATISFACTION - What do the parties want?  What constitutes a win for each person involved?

So the best negotiating technique is a Win/Win approach.  It is based on collaboration and refers to partnering with the customer, so that the end result is a satisfactory outcome (a win/win) for both sides.  Collaboration allows both sides to come out as winners.  Never underestimate the importance of preparing to negotiate. Pre-Negotiating Planning allows salespeople to understand the prospect’s needs and motivation and provides the essential elements to make the win-win a reality.

Win-Win Negotiations - Online Self-Paced Course

In this course we examine the negotiation process and determine the types of negotiations that cause people the most difficulty. People negotiate with people so recognizing how to address the behavioral styles of all involved is critical. You'll review the strategies behind some common negotiation tactics and learn to recognize the pitfalls that you can avoid. You'll realize there is no need to fear or to glamorize negotiating.

It is nothing more than the process you use to reach agreement with another. You'll practice an effective negotiation process that will help you and the other party get to a win/win. If your goals include a mutually beneficial long-term relationship, this course can help you get there.

How To Prepare A Business Contract

Trying to make a business contract? To close the deal, you'll need a legal business contract in writing between the parties.
1.Summarize the basic terms of your agreement in writing. Before making a business contract, you'll need final agreement on all the terms. If possible, confirm these terms with the other party by email.
2.Find samples of the relevant business contract online. Depending on the type of business contract, there may be existing templates online. Modify these business contract templates to suit your needs and specific terms.
3.Draft a business contract using a sample agreement from Step 2 or create your own new contract using clear language. If you have a simple business contract, you may not need a sample agreement--it may be easier to make your own as a letter agreement that is signed by all parties.
4.Include all terms and specific agreements within your business contract. Read the contract. Confirm that you have written about the who, what, when, where, why and how regarding the terms of the deal.
5.Consider "what if" scenarios. Check that you have accounted for non-performance, lateness and default. Discuss any changes or new terms with the other party if applicable.
6.Send the contract to your attorney for review for a large business deal. For big investments such as a house or investment purchase, it's best to work with an attorney to ensure that your contract complies with the law.
7.Send two originals to the other party with a short cover letter. All parties should initial each page of the agreement and sign and date the last page. Follow up to get the signed contract back quickly. After the other party has initialed and signed the contracts, sign them and send one original back for the other party's records.