How to Get Most Out of Negotiation

How to Get Most Out of Negotiation

Robin, a business executive for a marketing firm who is looking for career advancement. Robin is not happy with his current position and remuneration in the organization he works. He is constantly looking for opportunities in other organizations. One day he received an interview  invitation from a top marketing firm which also happened to be his dream organization. Robin was very excited, he prepared well for the interview as he didn’t want to leave any stone unturned for joining his dream organization.

Finally the day of the interview arrived, Robin left home early in order to make sure he reached the interview location on time. He was very excited, however, at the same time feeling a bit nervous as well considering his dream job was at stake. At the venue he found one of his friends from the same industry appeared for the interview as well. Robin was very pleased to find some company as having a friend at the venue helped him control his nerves.

The interview started on time and everything went well for Robin as he was able to clear the technical rounds with his industrial expertise.Finally after the salary discussion he was offered the job. Robin was very excited about his success until he came to know about the job offer of his friend. He found that his friend who has similar expertise was offered a far better paying remuneration package than him. He was very shocked to know that, he couldn’t hide his disappointment and asked his friend “How come you get a far better package than me when we both have similar expertise?” “They offered me a similar package that you are holding but thanks to my negotiation skills, I was able to convince them for a better package.” His friend replied. “Negotiation! Oh am not good with negotiation at all, I didn’t  even try to negotiate the package.” Robin said in disappointment shaking his head. “Probably I need to work on my negotiation skills, anyways congratulations friend.” Robin shook the hand of his friend and walked out with mixed emotions.

Negotiation is a very essential skill to be successful in any business, it helps in advancing the career. It is a kind of skill which gets better with practice, the more you practice the better it gets. This skill helps in settling the difference, a better negotiator always get most out of any negotiation. It helps in getting better salary, position, great deals and perks etc. Here are some of the things that you can practice to become a better negotiator.

Prepare Well:

You must prepare well before starting any negotiation, if you are underprepared or show any sort of hesitancy the other party can take advantage of it. You must understand your situation and what is at stake, and what can interest the other party.

Have Your BATNA Ready Before Negotiation:

BATNA is a term coined by Roger Fisher and William Ury in their 1981 bestseller, Getting to Yes: Negotiating Without Giving In. It stands for “Best Alternative to a Negotiated Agreement.”
Your chances of getting best out any negotiation are high when you have the alternative available. You put the other party under pressure with your willingness to walk away and accept another offer.

Have Clarity About Your Goals:

You must have clarity about your goals for the negotiation. You should know what you want to achieve from the negotiation, and stay focused and don’t get distracted.

Always Negotiate With Decision Maker:

Don’t waste time with people who don’t have ability to make decisions, always negotiate with decision makers.

Have Courage to Say No: 

While entering in negotiation you should be able to say no,  your ability to say no makes your proposition better. They other party understand that you already have other options available.

Keep Your Emotion In Check:

In order to close better deals through effective negotiation you must keep your emotion in check. Don’t get into the flow of emotion, you might ruin your chances of getting a good deal as things will not always go as you plan. But irrespective of that you need to be your approach and behavior professional.

Keep A Relaxed Approach:

Never do negotiation in a hurry, if you try to rush and close the deal then other parties will easily come to know about the pressure on you. When you rush things you are more than likely to lose good deals. Keep a relaxed approach and don’t make the other party feel that you’re desperate for an outcome.

Know the Negotiator You’re Dealing With:

If you want to strike a better deal, you must spend some time understanding the other party. Try to understand their requirements,culture and work ethics. It is always good to have some background details about the party you’re dealing with. Knowing what they would want from the dael or what motivates them will be an added advantage.

Try to Create A WIn Win Situation:

Negotiations are not successful if you’re not able to strike a win-win situation. Every part should be a gainer, a win lose situation is not good for long term perspective. One can have short term gain in such a situation, but they are more than likely to marr relationship if a win-win situation is not created.

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