1. Listen more than you speak. Ask questions to learn about what the other party really wants, and listen to what they say. The more you understand about the other party’s concerns, the more effective you can be in offering a solution that benefits everyone.
2. Do your research. Find out everything you can about the company and people you’re dealing with. Do an internet search to get relevant information that will help you in the negotiation process.
3. Know your bottom line. Know what is the minimum your willing to accept or the most you’re willing to offer before you start the negotiation process.
4. Have walk away power. If the deal is bad for you, walk away. Nothing is worse than accepting a bad deal.
5. Don’t give concessions without getting something in return. Doing so will only give the other party a sense of entitlement, and will probably encourage them to ask for even more.
6. Never negotiate against yourself. If you make an offer, and the other party doesn’t accept it, ask for a counter-offer. Never bid against yourself.
7. Don’t regret your decision. Life is too short to worry about whether or not you did the right thing in negotiating your deal. Accept that the decision was made and move forward with your life.
I must admit that I’ve been guilty of going against all seven of the tips listed above. It serves as a reminder that we all make mistakes. The key is to learn from them and do better the next time.
If you have something you’d like to add please feel free to leave them in the comments.
To your success!