5 Simple Ways Entrepreneurs Can Excel In Negotiations

52 Shares

Negotiations are incredibly commonplace; they are a part of everyday life. Negotiating is a skill that is developed over time. And there are a few tips and tricks to make the whole process easier.

There are quite a few things that you could be negotiating:

Brand ambassadors
Affiliations
Hiring a personal assistant
Purchasing a workspace
Getting merchandise made
Benefits and pay of a new job
Picking business colors with your business partner

Some negotiations are bigger than others, but they all work fundamentally the same way. These tips will help you work through any negotiation you come across.

1. Separate people from the problem

The people you are negotiating with are not the problem, the situation is. Going into negotiations and attacking the person or people across from you will get you nowhere. You have something you want; they have something they want, that is all it is.

As personal as the topic may be, you must do your best to not personalize the situation.

2. Do not get caught up in positions

As stated above, you have something that you want to accomplish, and they have something they want to accomplish. But you need to be wary of rigidity.

Doubling down on your goal and reusing to compromise is going to polarize the parties involved and negotiations will go nowhere. You need to be willing to have a discussion and look at alternate possibilities.

3. Get everyone on the same side

The way to have the best outcome in negotiations is to see where the other party is coming from. Finding commonalities is the best way for everyone to get something they want.

You know what your objective is, but what is theirs? Is there any way you are wanting to move in the same general direction on something? The way to do that is to be curious and ask questions.

The common ground you find allies you. Then you can be on the same side, the same team, and work toward a solution together. People are more willing to work together with someone toward a solution than against someone.

Finding commonalities and getting everyone on the same side will ultimately:

Ease the whole process
Create a good rapport between those involved
Reduce the stress or anxiety involved
Allow solutions to come up quicker and easier
Allow for solutions to be mutually beneficial

The main goal is to find a way for the parties involved to work together toward a common goal.

4. Relationship building

You want this interaction to go well-and not just so you get something out of it. You are potentially cultivating a relationship for a few reasons:

It is the beginning of a long-term working relationship
It could provide an opportunity to work with them in the future
They will have good things to say about you to their peers, which could provide another opportunity in the future
It will provide a good rapport for the duration of the contract

Not all negotiations are the basis of a relationship, especially a long-term one. But you do still need to put your best foot forward. But if you are going to have a working relationship in any capacity, starting off on the right foot is especially important.

5. Try to find multiple solutions

Often if you find common ground, you can come to a solution pretty quickly. But do try and keep your options open, do not get overly attached to the first thing you come up with.

The discussion you are having may turn up alternative options. Some of which may be better than what you originally came up with. But you have to be open to alternatives to take advantage of them.

No matter what you are negotiating, there are ways to make the process easier for everyone. Incorporate these simple tips in order to better navigate your future negotiations!

Additional articles you may be interested in:

Grace Lopykinski is a blogging intern at LadyBossBlogger. She has graduated from the University of Tennessee with a BS in Business Administration and a minor in English.

Pin52