“And there is no such thing as a no sale call. A sale is made on every call you make. Either you sell the client some stock, or he sells you a reason he can’t. Either way, a sale is made. The only question is who is closing it. You or him?” -Ben Affleck (Boiler Room)
Almost every Business transaction involves negotiations. They say people who negotiate better are better Businessmen and we couldn’t agree more. Negotiations, though a type of conversation, can make or break the deal. It involves convincing the other party, proposing offers, improvising, and trying to come up with a win-win situation that both parties can benefit from.
A good Businessman knows what to say, when to speak, and where to speak. If you think negotiation is your pain point, say no more. You can learn negotiation by referring to the tips mentioned in this article and understand what it takes to become better at it. Here are some tips for effective negotiation:
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1. Craft Your Responses
You need to know who you are talking to, what do they exactly want, what problems they are facing, and how you can help them. Such information will enable you to tailor your responses. Once you understand what motivates the other party, you can hold on to those points and tip the scale in your favor.
Talking to people in a language they are comfortable with also helps a lot when it comes to negotiation. The key here is you have to adapt to the situation and push the right buttons at the right time.
Key takeaways from this point:
- Know who you’re talking to
- Adapt according to the situation
- Talk in a language they’re comfortable in
2. Listen Carefully
Listening is an art, which plays a key role in getting the most out of any negotiation. We humans come with two ears and one mouth. This means we should only speak when required and listen more.
Do you want to understand the person you’re in a conversation with? Listen to them. Ask the other party about their expectations and the challenges and let them tell their side of the story. While they are speaking, take notes mentally as to what points to push and how to go along.
The more they speak, the more substance you get to work with. So never speak in excess and give away your points. Exercise speech-control while you’re in the middle of such conversation and you’ll realize you’re getting hold of the conversation itself.
Key takeaways from this point:
- Listen more, speak less
- Take notes mentally
- Exercise speech-control
3. Focus On The Discussion, Not Selling
Negotiation should always be discussion-oriented and not sales oriented. Always focus on ways of reaching a conclusion that benefits both parties. If you’re able to pull this off, the sales will take care of itself. Many Businessmen make the mistake of emphasizing sales over the quality conversation. They end up coming across as money-oriented and lose the opportunity to close the deal.
Key takeaways from this point:
- Focus on Discussion, not sales
- Offer them with solutions and tell them what you do best
- Emphasize on reaching a win-win conclusion
Conclusion
The thing with Negotiation is, it is a kind of conversation that should not talk about only sales. You can only sell anything if you’re able to provide value first up. How can you do that? By listening to them, speaking less, emphasizing on quality discussions, and tailoring your responses to reach a win-win conclusion. Got anything to say? Let us know in the comments.
If you are interested in even more business-related articles and information from us here at Bit Rebels, then we have a lot to choose from.
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