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
