7 Basic Negotiating Tips

In our daily lives, we often undergo situations where we need to negotiate with other people. It might be a business negotiation, salary negotiation, selling negotiations or any talks related to coming up with the best solution that is advantageous to both parties. When we negotiate, we want to get positive outcome and we aim to make it work for us. But then, there are many things that we should consider when negotiating and we have to know the right way to negotiate.

Below are the 7 basic negotiating tips that are applicable to any type of negotiations you will undergo.

1.) Ask questions
Smart people know how to ask. Ask questions relevant to the topic of your negotiation. You should know all information related to the discussion. Know what the other party has to say and when in doubt verify things so that there won’t misunderstandings with the other person or party.

2.) Learn to listen
As always, listening is very important in communicating with people. Even on business negotiations, it is vital that you listen to the other person or party you are talking to. Understand the message they are trying to relay and never butt in unless you find it necessary.

3.) Do some research
Before the scheduled negotiation, gather relevant information that you can use in weighing factors connected to the negotiation. For business negotiations, know the background of their company, learn the factors surrounding their offer and verify the information you got about their proposal (if there’s any). Being prepared is important during negotiations. If you want to buy a particular product or maybe a house and lot, do your homework and research about the value of the product you want to purchase and see if the offer of the other party is reasonable.

4.) Don’t rush things
It is not necessary that after the first meeting you will already come up with a decision. If you or the other party is still undecided, then you can set for another appointment so both of you can think it over and weigh things mentioned on the first meeting. It is not good that you make a decision right away or you persuade the other party to immediately agree with you. That would sound too demanding.

5.) Find the right timing
Make sure to set an appointment that both of you will agree. Consider also the mood of the person and see if he’s in great mood or he’s not stressed or in bad mood. It is best that both of you are in the right mood when negotiating so that there won’t be misunderstandings or conflicts that may lead to a heated argument. Always remember that negotiations are done so that both parties can come up with the right solution to the problem or topic being discussed.

6.) Understand the other party
Do not be narrow-minded. Learn to understand the argument of the other party and if they are reasonable and advantageous to both of you then agree with him. On the other hand, you should also learn to walk away if you think the negotiation talk is useless and is going nowhere. Stop the deal if necessary so that the other party can see that you have a strong will and is serious about the negotiation.

7.) Set aside personal issues
Business is business. Never include personal matters when negotiating about business or if selling a product. Do not include a person’s behavior in coming up with decisions or in disagreeing with him/ her. Be objective when talking to the other party and clearly set your arguments.

To sum up, great communication skills, open-mindedness and preparation are few of the important factors you should consider when doing any kind of negotiation.