IYKEMAN business Tips.
Negotiation is a method by which people settle differences or make deals. It is a process by which compromise or agreement is reached while avoiding argument and dispute. In any disagreement, individuals understandably aim to achieve the best possible outcome for their position (or perhaps an organisation they represent).
There is historically five(5) negotiations steps or simply put five collaborative stages of the negotiation process: which involves, Preparation, Information Exchange, Bargaining, Conclude, and Execution.
However successful collaborative negotiations lies in finding out what the other side really wants and showing them a way to getting it while you also get what you want.
Hence here are the few tips you should arm yourself while trying to negotiate any deal.
- Try and get away from superficial assertions about others and instead reach deeper and endeavour to comprehend the other persons feelings and needs by grasping what is really going on with the other person deep down that way, resolution to potential conflicts is much more likely.
- Approach every negotiations with accommodating and non confrontational style and be respectful to the other persons point of view.
- Trust is at stake in every negotiations especially where a large amount of money is at stake. if there is not a level of trust between the parties, there is no basis for a relationship.
- Don’t ever leave a negotiation without verifying what you believe was agreed upon. The best is drawing up a memorandum of understanding between both parties involved ( You and the other partner on the negotiations table).
- Understand the other sides positions, both its need, strength and weaknesses. When you know the need of the other, it makes it easier for you to appeal to their need while protecting your own interest at that point it becomes a win win scenario.
Finally never enter into any negotiations without adequate preparation. Ensure you jot down points to rally while negotiating, it will save you lots of ideological blocks. It will also make you come of as a well organised person worthy of doing business with.
Use the comment section to tell me how you fell or add anything that is also important for a great deal making.