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Latest negotiation tactic to secure an imperative business deal

Guest articles > 5 Secret Tips for Invulnerable Business Negotiations

by: Paul Trevino

Believe it or not, negotiation is a process all of us use daily. We bargain with people at the flea market, and with our loved ones in the household. It can be avoided, so why should anyone fear negotiations? Dealing with individuals in the business environment and reaching an agreement may be more difficult than meets the eye. It’s sometimes tough to find mutual ground in an environment that’s incredibly competitive; although it’s not impossible. There are tactics everyone can use to seal the best deal. Here are some guidelines to help you get started.

It is normal for an employee to negotiate their wage and most employers will expect you to. If they are not open to this then they are probably not the sort of employer you would wish to work for. Your opinion needs to be valued, even if your advice is not followed. Negotiating your wage shows your employer that you are a confident, forward thinking individual and you value your work.

From the perspective of an entrepreneur, negotiations can’t be avoided. At some point, you will have to deal with suppliers, investors and even employees, and you will have to use your skills to persuade them in one way or another.

Financial benefits can’t be ignored

There’s no doubt about it – a boost in salary will offer benefits, both financial and non-financial. There’s something about a raise that makes people do more and become more productive. Why it’s so vital to bargain a salary package? Because if you don’t negotiate you risk losing insane amounts during the course of your career; $500 a month adds up in 10-20 years, and the total amount is certainly not mediocre. We’re talking about $6,000 a year, $60,000 in ten years.

Setting ground rules

Setting ground rules is probably one of the most lucrative ways of closing a good deal. Many people see negotiation as a dreadful endeavor. This usually happens when their efforts to negotiations don’t pay off. How can you bargain when you only expect disappointment? Have you tried focusing on the benefits of negotiating? Prior to entering a meeting you are advised to set ground rules. This way all the parties involved will walk out a winner. Here are three principles you should abide by.

1. Be cheerful and pleasant during the negotiation – be in a genuinely good mood and your opponents won’t feel threatened by you in any way. Be ready for criticism and negative emotional reactions, but don’t give them the satisfaction. As long as you don’t allow them to ruin your good mood, you have the highest chances of walking out with an even bigger smile.
2. Safety should come first – before entering business negotiations you should focus on safety first. Don’t make demands and show respect if you want to grab attention and make opponents want to listen to what you have to say and offer. Use your intellect to make smart choice, and don’t allow them to irritate you in any way. Keep this in mind – they can’t break you if they can’t read you!
3. Change the route of the negotiation if things get tense – it’s natural for people to have different opinions during a negotiation. But this doesn’t mean you should permit a conflicting scenario to materialize. Keep your cool and try to change the subject; create a diversion and find a way to give up the tense subject line and focus on the positives.

Believe it or not, some people don’t bargain because they don’t want to be put in uncomfortable situations. Unfortunately, it is impossible to succeed in business and in life while sitting in your comfort zone. You have to get out and take a risk to thrive. Even if you don’t make in from the first try, at least you’ll learn an important lesson and acknowledge the mistakes you’ve done.

Secure a lucrative deal by keeping your cool. Let the other side scream and shout, and remain focused on the deal you have in front of you. Don’t let them break you and maintain a professional attitude no matter what. This will show that you have integrity, and that whatever happens during that meeting, you won’t turn to unethical approaches to win. 

By Paul Trevino and TheGapPartnership.com!

Contributor: Paul Trevino

Published here on: 12-Jul-15

Classification: Negotiation

Website: TheGapPartnership.com