The Art of Negotiation in Business | Success Through Enhanced ...

Negotiation means arrangement and mutual discussion of the terms of an agreement. It is unusual to negotiate on everyday purchases in America. However, when it comes to purchasing large and more costly items such as houses and cars, Americans tend to negotiate on the price. On the other hand, some cultures accept and even encourage individuals to barter or negotiate with all types of purchases.

The negotiation process may vary, depending on the culture. In some areas, the client offers a low price for an item, then the seller of the item negotiates by offering a higher price. When you are negotiating the price with a client or seller, it is essential to know the subtleties of the market you are in.

There are various ways an individual can learn how to become more effective while negotiating. You can take courses on this subject. You can learn methodology which helps you find the best practices you can use when you are negotiating.

It is important to know that negotiating is not about who wins or loses. In fact, negotiating is about finding the ideal solution that is beneficial for both parties. The best solution will strengthen a relationship. Therefore, it is advisable not to look at negotiating as a win or lose game. A healthy relationship with your client or seller can only be beneficial for each side.

Successful Negotiating Skills

We always negotiate with others, even when we do not realize it. For instance, have you ever bargained with a colleague or friend over whom would pay for a lunch bill? We use negotiating skills in almost every part of our lives. Therefore, it is important to be an effective negotiator. Below are several key skills that can help you become a better negotiator.

Allowing Creative Flexibility

Effective negotiating is more about innovative thinking and flexibility, rather than aggression and confrontathon. Referring to the individual you are negotiating with as a ?counterpart? or ?partner? can help evoke a sense of cooperation and teamwork, which is vital for a successful negotiation. On the other hand, if you refer to the other party as an ?opponent? or ?disputant?, then you will have difficulty coming to a beneficial agreement. It is important to remember that a firm and strong relationship is essential for a successful negotiation.

With a cooperative mindset, it is much easier to strike a good deal with your partner. However, negotiating with an uncooperative mindset will only negatively affect each party and the negotiations will become stagnant.

Preparation for Negotiation

Proper preparations before a planned negotiation is essential for success. We cannot emphasize enough how important preparations are. An effective negotiator will always come prepared. Of course, you should balance preparation with flexibility. Weak and ineffective negotiators tend to be overconfident and do not come prepared, these individuals usually lose a good deal of opportunities. On the other hand, effective negotiators come prepared for the expected issues and are flexible for the unexpected.

Negotiation: The Rule of Value

Claiming and creating value is the heart of every negotiating process. Basically, creating value means developing innovative solutions that satisfy everyone involved in the negotiation. This is often called ?expanding the pie?. Claiming value refers to the amount or size of the piece of pie the individual receives after a negotiation.

Usually, individuals can do a good job on either claiming or creating value, but not both. Effective and highly skilled negotiators, on the other hand, do an excellent job of finding the balance. These negotiators will try to find what interests both parties, instead of simply aiming for his/her own goals and not allowing any form of flexibility.

Understanding Negotiating Styles

Good negotiators understand their own limitations and strengths and how their style can work for or against them. They also understand how to flex their unique negotiating styles and exhibit self control to maintain composure while negotiating. This way, they will have more and better control over the entire negotiation process.

If an individual approaches the negotiating process with a collaborative mindset, he/she can discover important information more easily. For example, you will be abler to understand the partner?s body language and use of language. You will also more easily recognize what the person you are negotiating with values. This way, you will know how to adapt your approach and use of language to appeal to their understanding and reflect their values. By doing this you will significantly increase the chances of coming to an agreement that will be mutually beneficial for both you and the partner that you are negotiating with. However, if you have a confrontational and negative mindset, then it will be harder for you to notice subtleties.

Cooperative negotiators look for a situation that will be win-win for both parties. They will look for the best results possible. Competitive negotiators aim to win a negotiation and make his/her opponent lose. These negotiators aim to get as much as possible from the negotiations, regardless of whether or not the counterpart party is satisfied.

A combined approach involves a competitive negotiator and a cooperative negotiator, and is usually not mutually beneficial. When both parties are cooperative, the negotiations will produce a solution that is ideal for both sides. However, if both parties of the negotiation are competitive, then a solution is never produced. A good and effective negotiator will know when to compromise and when to stand firm.

Success Through Enhanced Performance teaches sales skills. They make sales giants. Among the training sessions is one about negotiation, which is scheduled for March 29, 2012. Here are the details

March 29, 2012

8:00am-9:00am: Java with Jan Networking ?Bring Business Cards!?

9:00am-11:00am: Negotiation Seminar

$59.00 per person

Sheraton Suites
311 N. University Drive
Plantation, FL 33324

*Breakfast Goodies Included!

For more information and to download a PDF of the event , click here

Source: http://successthroughenhancedperformance.com/success-blog/sales-training/the-art-of-negotiation-in-business/

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