When we talk about negotiation, we don’t always mean business. It happens everyday in different forms: when you to the stores when you borrow something from a friend or even when you are just watching TV. However, being good at negotiating is an asset especially when you are engaging in transactions even without money. I find this effective when I trade online at bartercall.com.
And I say that whatever it is you are dealing with, the situation has to be win-win. Here are the top 5 tips to better negotiation:
1. Focus on the first few minutes
Focus on the first five minutes. This is the time when the person you talk to is evaluating you in terms of knowledge, creativity and honesty. Look good, know what you are talking about, appear confident but not too insistent. Adopt and adjust to the person’s emotional state.
2. Give and get as much information as possible
You want to know the details because you want to know if it’s worth the thing you are trading it with. The value, the size, the color of the commodity, what it does and so on. When you negotiate you need to tell the person how this product or service can benefit him. And you also need to know why it is profitable for you as well. Don’t lie, never give false promises just to make your service or product look good.
3. Start High
Ask for the best ex-deal. When you do, people start to focus on what you are saying to find consistency and value between your demand and the product or service you are bartering for. This way, you are able to build your product or service and you have set a high standard as well. Set the anchor for the deal that your “products” are of quality.
4. Create sense of urgency
When people know that they might miss an opportunity, they tend to, say, grab the bait. No, you are not trying to trick them but when people know that the product or service is of high demand they equate it to being really good thus, would convince them to trade with you instead of with someone or something else.
5. Learn to say “No”
The main purpose of negotiation is to get the best trade possible. That is why it is win-win, which means both parties have benefitted. When you realise that you will not be getting a stable beneficial outcome, just know when and how to back off. Because if you don’t, you just tend to give in to whatever the other person is saying.
Remember, you always want the best outcome possible. In order to get this, you have to offer something beneficial too. Build trust so people would know that it would always be good to do business with you.