The stakes are always high in negotiating, especially in business, as it involves professional repercussions. But negotiating doesn’t have to be stressful or hard. Here some tips to help you succeed at business negotiation to close more deals:
- Don’t view negotiation as a battle
Negotiation is often talked about in terms of winning or losing against an opponent. But negotiation isn’t a game with a win-lose outcome. Good negotiators strive to achieve an outcome that both parties want. Shift your mindset to keep things positive and keep the conversations productive.
- Anticipate prospect objections
Before entering a negotiation, anticipate possible prospect objections to equip yourself to address their concerns. This can help make you look more impressive as you know what the prospect cares about before they tell you.
- Read between the lines
Whether you’re negotiating over the phone or in person, you need to understand what’s not being said as well as what is being said. Look for behaviour changes like a change in voice tone or a shift in body language that could indicate whether a conversation is going well or poorly.
- Know when to walk away
Good negotiators know where their bottom line lies and if a negotiation’s terms cross it, they know it is sometimes better off to simply to walk away than keep fighting.