Your guide to becoming a successful negotiator
Your guide to becoming a successful negotiator
Post written by Paragon Interiors   May 7, 2019

The truth is, some people are just naturally better at negotiating than others. While some are eager to fight for the best deals’ others shy away from making a fuss and convince themselves that the alternative is ‘not that bad’. Negotiation is a skill that is used throughout the day without us even noticing. We use it in the morning while persuading a grumpy toddler to put on their shoes before going out to the shops, deciding who makes dinner that night, or choosing who picks up the bill after lunch and so on.

Having the power to harness great negotiation skills doesn’t just help us to be more diplomatic in the office, at home, or among friends, but can also increase our levels of overall happiness and satisfaction. When we learn to ask for what we want, we are more likely to get what we want! People who stay silent to not cause a fuss don’t always get the desired outcome. Negotiation can have a positive impact on our levels of engagement at work. Poor negotiation skills can ruin a company almost as quickly as losing key customers. The time to act is now.

Negotiations can be tricky and difficult to navigate. This guide will give you a few key points to consider when entering into negotiations with another party.

Preperation


Know who you’re dealing with

Before you enter any negotiation do some research. Try and identify the strengths and weaknesses of the other party. Speak to people who have negotiated with them before to identify common patterns in their debating techniques.

Identify what you hope to achieve from the negotiation

It is important to have a clear goal in mind before you enter negotiations. Identify the best possible solution you would like to achieve and be aware of all potential outcomes.

Developing a Strategy


Your first offer is the most important

Your first offer is the benchmark for the rest of the negotiation process. Make sure to offer your best possible solution and work your way from there.

Include a ‘nice-to-have’ to sweeten the deal

Make sure to offer something of added value that does not affect you negatively. This acts as a decoy to your party. The value of what you are offering will increase while your expense will stay the same.

Bargaining


Watch for the nonverbal communication

The way to monitor how the negotiation is going is to watch the other party’s non-verbal communication cues such as body language, facial expressions, and gestures. Arms folded, tense facial expressions, and poor eye contact is a non-verbal que that the opposing party are not happy with the offer.

Be cautious of your counter offer

From a contractual standpoint, you cannot go back on a previous offer if you have already made a counter offer – this is important to know as you may lose out if you don’t consider your counteroffer carefully.

Find the leverage

Identify your strengths and use them. If you are the only party that can give them the best deal – let them know. The opposing party will be persuaded if they know they are getting the best the market has to offer.

The Offer


Everything in the fine print can be changed

Do not feel pressured to accept an offer based on an industry standard. You have the right to negotiate all terms and conditions.

Go for a win-win solution

Try to satisfy both parties during the negotiation process. Negotiations are about collaboration and compromise. If the other party doesn’t feel satisfied, negotiations will cease.

Closing the Deal


The final handshake

Aim to reach a final agreement with a firm handshake. Try and maintain a professional manner throughout, emotions have no place during negotiations, to not sever any ties or relationships.

Present offers in writing

To avoid any miscommunication, ensure that a written document is drawn up detailing all that was decided and agreed upon during this process. Provide a signed copy for both parties to avoid a nasty legal battle.


Although this method might not be so practical for arguing with a toddler, we hope you can use these tips and tricks to enhance your negotiation skills. To find out more about who we are and how we can help you, email us at info@paragon-interiors.co.za or contact us on 011 706 5123.