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3 Real World Business Negotiating Strategies
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You can improve your negotiating skills by learning how to do two things very well. Asking all of the right questions and practicing some active listening can usually tip the scales in your favor. The important point about active listening is to listen more than you speak. It is not uncommon for a person to prefer to talk more than they prefer to listen.
If you want to encourage the other person to continue talking, there are different body postures, facial expressions, etc that you can use. That's another reason that you need to know with whom you will be negotiating before you start. Someone who is experienced and skilled at negotiating is going to know about these two things and use them against you.
Negotiators tend to let their own personalities and values inform what they do. You'll find some who want to win regardless of the expense of the other side. This is a win-no win mindset, which is not the same as the win-win mindset.
Choose an approach for yourself and then educate yourself so that you can make sure that you succeed with it. A win-no win strategy will mean you have to be very skilled at negotiating. Otherwise, ruthlessness is what you have to display and this isn't always an available option for you. If you can feel things like the other side feels them, you will have a lot more luck with a win-win strategy. You'll have a much easier time creating a win-win outcome when you truly understand your opposition's point of view and situation.
Figuring out a way to have at least 24 hours as a buffer in case things go wrong during negotiations is a smart thing to do. You can easily do this by saying that you need to consult with other people. Since you are going to make all the final decisions, this is simply a useful tactic. If you do need to buy the time, then this is an exaggeration or lie that you simply have to make. You could say you have a partner or advisors that you need to consult with before making a decision. Of course all will remain anonymous but they exist and you may need to consult with them. At no time should you reveal that you are the key, or only, decision maker on your end.
All business negotiations need to be taken seriously if you want them to go your way. Whatever the size of your business, the stakes are equally high, though they might be relative. It is absolutely up to you how much success you and your business reach. You need to learn what you need to know and then use what you've learned.
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