How to be a better negotiator

Written by ProfitGuide

Whether you realize it or not, you’re constantly negotiating with your employees, your customers suppliers and even your children and spouse. When you do something so important, so often you’d better do it well. The good news, according to latest Xchange Poll 83% of respondents consider themselves to be good negotiators, while 17% consider it a weak spot.

We also asked readers to share their most effective negotiating tactics and strategies. Here are your best responses:

“Listen more than you speak. Do not try to fill in silences with increasingly less convincing reasons, let the pauses work for you.” — rihall.

“Negotiating is all about understanding and appreciating the other person’s point of view and the reasons for their position. Appreciation is the greatest human want. Once you communicate that you understand their position, you have taken a giant step toward reaching a compromise. A successful negotiation is only realized when both parties walk away satisfied with the results and with respect for each other. You have gained nothing if you’ve saved a dollar but end up with an unhappy employee, customer or supplier.” — Larry Mathews.

“1. Be prepared. Understand what you want/need and also what your opponent is looking for. It helps to also know their background and personality type.
2. Be calm, be courteous and listen to the other person’s comments. If they have shown their hand first, then you can assess what you want to offer, divulge or ask for in return
3. Understand that each of you must win in the negotiations.
4. Always go for the nibble just before the negotiations are over. When your counterpart is feeling good about what they are getting, try to get that little bit more without offending. They are usually willing to give in if you just ask for it.” — Sbronetto.

“My most valuable tool is ‘relationship building’ before I go into negotiations. If you and your partner know each other, understand each other’s priorities and value the relationship, the negotiating result will follow. It sounds easy, but the relationship needs regular care and feeding, even when you don’t need or want anything in return. It’s much like the care and feeding your marriage needs.” — carolmckenzie.

“I use a number of sales techniques in negotiating. I believe in being straightforward and honest, but without showing all of my cards. Having established that, I use the concept of the up-front contract-asking what the other person wants from the negotiation, then stating honestly what I want. Then it is easier to see where there is a problem and possibly identify a path to achieving an agreeable settlement. This is not to suggest compromise is always the answer; sometimes I have to get what I want or there is no point in me negotiating.” — imcdonald5863.

That answer wins imcdonald5863 a copy of “The breakaway brand: How great brands stand out,” by Francis Kelly and Barry Silverstein.

Originally appeared on PROFITguide.com