657 Top Business Negotiation Skills

Top Business Negotiation Skills

Effective negotiation is a skill for business and personal development that covers presentation skills and communication skills techniques that can be learned through training.

You can learn negotiating strategies and tactics through seminars, training workshops and courses and this article shows you valuable tips to get you going.

See also: Stakeholders Business Responsibilities in Nigeria

How To Negotiate Something

Whenever you feel the need to negotiate there needs to be a positive outcome for both parties. Generally the negotiation will be between two people or two parties but one group should not feel they have suffered worse than the other.

Someone we knew talked about compromise where everyone loses but if you go into any decision making process with an open mind where you can agree a way forward that people are happy with but moving their position slightly then you have both won.

See also:How Small Business Culture Can Create Success in Nigeria

Disruptive negotiating is where you go in knowing you won’t change your position and you want to bully the other party into submission so you get your own way (but it is OK to give up something) whereas integrative negotiation provides an outcome where everyone benefits.

You can use all techniques in a business world and well trained sales people can sell almost anything to a customer where the sales person gets the sale at a profit and the consumer believes they are getting a great deal.

Read on: Top 50 Business Fashionistas Ideas in Nigeria

Planning Ahead

Before meeting with the other party you’ll need to undertake some preparation work such as:

  • What your current position is and your overall objectives (money, time, etc)
  • The minimum agreement you want to reach
  • What the other party requires
  • What the 3rd party absolutely requires and some things they are willing to give up

Generally you’ll always have to give away sometime or add a benefit to your current offer to move forward with the negotiation and normally the third party will also. Don’t be too stringent with your position even if you feel morally that you are 100% correct in your current understanding. If you want an agreement so you can move forward and either close the sale, get something cheaper, settle an argument or dispute or motivate someone to do something, if you can offer a reward or benefit then you can achieve your goal and get on with other elements of your life or business development.

Read on: Top 50 Store Management Business in Nigeria

Top Business Negotiation Skills

Meeting The Other Party

Once you have your plan then it’s important to meet the other party at a pre-arranged time and place and should be face to face, in writing or over the telephone. This enables you to have an agenda and be able to decide the outcome almost in advance if you have thought about the options available to you.

Read also: Tips to Action Business in Nigeria

Confidence is key for coming to an agreement but try not to be too fixed in what you want because the other person will probably be thinking the same thing. Be flexible in your approach even if this goes against everything in your mind. If you can show flexibility, friendliness, honesty and open-ness then the negotiation is likely to move forward quickly and often put the other person off balance because they may not be expecting this approach from you.

See also: Top 10 Emergency/Essential Surgical Care in Nigeria

The Agreement

Once you have an agreement verbally you can continue. If it requires the agreement in writing then follow up as soon as possible. May be put down the main points of your meeting in email first and then follow up formally in writing.

In business this may be a purchase order for a sale. Ensure you send off any terms and condition of sale and this may also form a legal contract.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like