One should have excellent negotiation skills to ensure win-win situation for both the parties.
Basic rules of negotiation.
- Don’ start
- Don’t tell your bottom.
- Don’t make Salami.
- Don’t accept the first offer.
- Do proper research before negotiation. Collect all data / price etc. about product.
- Plan your strategy.
- Don’t make the first offer. If need to make it, then add margin.
- Don’t make quick deals.
- If you want to sell, don’t give freebies. It will create habits.
- Don’t negotiate with self – first rule.
- Don’t tell lies. Tell facts and figures with evidence.
Smart Tips
- Understand the Need, Interest and Concern of person whom you are negotiating.
- Do Gap analysis.
- Build emotional equity – help other people/ build relationships.
- Connect, convey, and convince.
- Do conversation with self before negotiation – ask question to self and reply the same.
- Listen to other people carefully.
- Monitor body language.
- Know your outcome with respect to goal/ requirement.
- Be flexible in your approach – the plan may not work exactly but your vision will guide you to reach there.
- Believe in your position – self-confidence.
- Be willing to walk away – if deal is not as per your desire.
- Speak less, think twice, and agree slowly.
- Sell value instead of price.
- Don’t show impatience or urgency.
- Don’t sell price.
- Don’t bargain with yourself.
Salami – Negotiation technique that tries to win concessions in small doses (slices) when the other party would probably reject them if they were put on the table all at once.