Want to know negotiation tips for business success? Negotiation is one of those skills that must be applied properly in order for your business to reach an agreement that benefits your business as a whole.
5 Negotiation Tips for Reaching the Best Business Deal
Therefore, in negotiating, it is important to put forward the common goals to be achieved by you and the other party so that the needs of both parties are accommodated and mutually benefit ( win-win solution ). For that, in this article Actively Share will provide some good negotiation tips so that you can reach the best deal that is profitable for your business.
Do a Research
In conducting negotiations, you will definitely experience some obstacles that get in the way.
To avoid and minimize the risk of obstacles, it’s a good idea to do some research beforehand on several things, such as who you will negotiate with, what they like, how their business trips, what kind of work culture they want, what topics you should discuss, or avoid, and so on.
By doing your research beforehand and knowing all the information about the person you are trying to negotiate with, it will be easier for you to reach the goal of the negotiation. For example, when you want to negotiate with foreigners who come from western culture.
They usually prefer that you talk directly about your goals without further ado and it’s also important to avoid arriving late for an appointment. Because usually, foreigners really value punctuality and consider being late as a form of disrespect towards other parties.
Convey As Much Relevant Information As Possible
To achieve a common goal ( win-win solution ), both parties must convey relevant information and nothing is covered up. Because providing as much information as possible is one way to make other people believe in you. Not only that, by providing as much information as possible, you can convey your true goals and expectations.
Even so, you do not have to open all your cards by providing your business information which is included in strategic information or confidential information, just provide information that is suitable for the purpose of the negotiation.
Set Negotiation Deadline
Reaching agreement in negotiations may not be easy. Protracted negotiations will of course also take up a lot of time, energy, and thought. Not only that, the protracted negotiation process also incurs costs such as transportation costs and you may lose the opportunity to look for other prospects because you are stuck in a protracted negotiation. That’s why, to avoid stalling the negotiation process, it’s best if you convey a realistic negotiation deadline from the start .
Setting a time limit for negotiations is like a double-edged sword, on the one hand, if you set an aggressive deadline, the negotiation will not go well.
Meanwhile, if you do not convey the time limit you want, the negotiation process can take a long time without any certainty. At the beginning of negotiations, it is important to provide an estimated target for reaching an agreement in these negotiations.