Whether you covet a new job, a raise, a business deal, a new car, some new bling, or need to rectify a problem with a loved one, the ability to play ‘deal maker’ is your secret weapon to achieving the result you want. In my opinion, one of the greatest strengths of very successful business people is their ability to out negotiate with others to achieve their desired result. Negotiating doesn’t need to be back and forth, point-counterpoint banter. I’ve found that the most proficient negotiators manage these conversations in such a way that the other party likely does not even know they are engaged in a bargaining process. The bottom line is simple: if there is something you want that is in someone else’s control, knowing how to negotiate will stack the odds in your favor. The key is to be tough but fair.
1. First and foremost, be prepared to walk away. This is single most
important strategy to getting what you want out of life. If you aren’t prepared to
say, “No” and mean it; then you are likely to end up settling for a lesser
outcome. Before entering into the negotiation, know in advance exactly what you
are and are not willing to concede, so that you do not need to process this
information on-the-fly without adequate time to weigh the pros and cons of
each.
2. Know when to forego all together. A good deal comes together quickly – a
bad deal takes way too long. Take a clue from the amount of time it’s taking to
get what you want. If you have to “force it,” chances are it will come back to bite
you later on.
3. Deal at the right level. Nothing is more frustrating than trying to do a deal
with an individual who can’t make the final decision. It’s like negotiating against
yourself – you address an issue and try to come to a conclusion and then the
other person takes that to someone else “behind the scenes” only to come back
and say it can’t be done on those terms. It’s far more efficient and effective to
find the right person to negotiate with directly, “(wo)mano y (wo)mano.”
4. Due diligence to come prepared. The more information you have
surrounding the circumstances of your endeavor, the “marketplace,” for example,
the more likely you are to not only prevail, but also get the best deal possible.
While you may actually prevail by shooting in the dark, not knowing the extent of
the opportunity could result in your leaving a lot on the table. Whether it’s the
average pay for a given job, the price typically paid for a product or a service, or
who you are in competition with for a new position – knowledge is truly power.
5. Don’t take anything personally. To maintain objectivity, treat every
negotiation as if you are doing a deal for someone else who has hired you as the
professional “closer.” When you allow yourself to get emotionally involved,
rational thought often goes by the wayside and you’re far more likely to concede
to your later regret. Cool heads get the best, and most, out of what they are
seeking.
6. Anticipate objections. Prior to the negotiation, brainstorm all the reasons or
objections that may prevent you from getting what you want – and prepare a
thoughtful counterpoint for each, one at a time. During a negotiation, people
conjure all sorts of reasons why something can’t be done, many of which are
often bogus. Until you know the valid sticking point, you are just spinning your
wheels.
7. Don’t underestimate Karma. What goes around indeed comes around. The
best deal is one where both parties walk away feeling positive about the result of
the negotiation. The worst deal is that where one side leaves the table feeling
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