Everything in life is a negotiation. From asking for a raise to getting a good deal on a car, you need strong negotiation skills.
If you learn how to negotiate properly, you’ll be able to get what you want, regardless of your opponent.
Maybe you’re trying to get your boss to increase your salary. Or perhaps you need to shore up that new business deal (which will help you get that raise down the road).
If you’re ready to start getting what you want out of life, you’ve got to become good at it.
Ready to learn what the best dealmakers already know? Here are five unique secrets to improve your negotiation skills.
- Prepare
In warfare, you need to know how to use your weapons and how to defend yourself. Negotiating is no different. You need proper training before you go into combat.
Before you head into any negotiation, you should prepare. Preparation includes understanding who your opponent is and what they want. Once you figure that out, you can figure out how to give them what they want while getting what you want in return.
You have to convince the other party that what you're giving is of equal or greater value to what they'll be giving you.
Do your research. Know exactly who you are negotiating with.
If you don’t know who you’re going up against, you could be caught off guard and make concessions that you don’t need to.
Shrewd negotiators always have those ducks in a row – they never go into a negotiation blindly. Learn all you can about the person (or the company) so you can come out on top.
And think about how you will react if your initial negotiation doesn’t go the way you want. Come up with a Plan B ahead of time so you can respond accordingly and maintain a professional demeanor.
- Identify Your Opponent’s Interests
Knowing who you’re going up against is just one piece of the puzzle. Another crucial piece is figuring out what their endgame is.
What is their desired result? What is their main goal?
Don’t assume you know what they want. Instead, ask questions and listen intently. By inquiring about their position, you’ll be able to figure out how you can give them what they want out of the deal.
You know that old saying, knowledge is power? When it comes to negotiations, it’s absolutely true. The more you know about what the other side wants, the better.
- Don’t Give Anything Away Without Getting Something in Return
Rule #1 in negotiations:
Never give anything away without getting something in return!
Negotiating is an art – and there’s a delicate balance between getting what you want and giving up what you can live without.
There has to be a balance. You do this and I’ll do that. You do that and I’ll do this.
If you’re not getting something for giving something, you’re not negotiating at all – you’re just handing the other person what they want.
Good negotiators ALWAYS get something in return. And the best way to do that?
Learn how to say no.
When the opposing side asks for something you’re not willing to give, say so. If you fail to do that, your opponent will ask for more and more. If you’re a weak negotiator, you can end up giving a lot away without getting anything in return.
4. Know Your Value
If you want to have the upper hand in a negotiation, you need to have a solid understanding of the value you bring to the table.
You must have confidence in your abilities, and you have to make the other person recognize that you have something that they need.
Confidence is key, but you can only build confidence by understanding your value.
If you don’t think you have much to offer, there’s no point in negotiating at all – you will lose. Only when you know that you hold value can you put yourself in a powerful position.
And never, ever underestimate your opponent. Whether you’re negotiating a raise with your boss or a new deal with a business partner, assume that your opponent is fully aware of what they have to offer. You have to be able to do the same.
- Practice
You know that old adage practice makes perfect?
It’s true.
From job interviews and public presentations to behind-closed-doors negotiations, practice is crucial. The more you practice, the more skilled you’ll become.
Find a friend, a colleague, or a mentor to rehearse with. If possible, practice with someone who’s a strong negotiator in their own right. That way, you can learn a thing or two about how they counteract your proposals.
For some people, negotiating is intimidating. But the more you practice, the easier it will become and the more comfortable you’ll feel.
After all, the best negotiators never show fear. Practicing can help you seem like you’re the one who’s in total control, even if you’re not!
And if you fail, just think of your unsuccessful negotiation as a learning experience. The more you do it, the more skilled you’ll become.
In Summary
If you’re ready to become the best negotiator you can be, here’s what you need to do:
Prepare and research your opponent
Listen intently and figure out the other person’s goals
Never give anything away without getting something in return
Know your value – and don’t be afraid to show it
Practice negotiating to hone your skills
Master these five tactics and you just might become the feared opponent that everyone else is scared to go up against!