So continuing on the journey to becoming better negotiators.
Here are 3 more tips:
Patience – I have fallen foul of this many times in my career.
Probably the hardest thing when negotiating. You can expedite deals – but you will pay a penalty for this. It could be in the form of not getting or delivering exactly what is desired and the long-term effects of this would then be potentially even losing a client.
Emotional distance – the one most attached to the emotional outcome of the deal will pay the most. If you have built something or created something that has a personal attachment you will be on the losing end of any negotiation. It is important that if this is the case you need to learn how to remove emotions before starting the negotiation – the other party will take advantage of this if you don’t learn this tip.
Set the right stage – where, when and what time – this is crucial to negotiating if these are not clearly outlined and agreed you then have a disadvantage, especially if a product is time sensitive. Think about it. If you are a caterer – your food has to be delivered fresh and at the right time and place. It is of no value to deliver a day early or a day late. So when negotiating, these details must be clearly communicated and agreed upon as part of the negotiations.
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