Essentials in Business Negotiation

In order to succeed in business, the business man or woman must know the art of negotiation. Skilful negotiation can work both with hardened fellow business owners as well as new employees. Here?s a list of some essentials when it comes to business negotiation.

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The negotiator should take some time to conduct some research on the other party before the negotiation starts. This is not only important when entering into negotiations with the CEO of a Fortune 500 company but with the lowliest employee in the firm. Not knowing much about the other party puts a negotiator at a severe disadvantage.

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Of course, if one party seems not to be interested in the negotiations, negotiations are almost guaranteed to go nowhere. The best way to show interest is through body language and quick replies like, ?Okay,? or ?Yes.? This lets the other party know to keep negotiating and to begin to trust the first party.

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When a businessperson actively listens during a negotiation, he or she is trying to find out what?s really important to the other party and what their motivation is when it comes to the negotiation. Active listeners not only listen to the words but take into account body language, tone of voice and other clues that the other party might not even be aware of.

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The first party should also be mindful of their own body language and tone of voice. He or she might try the trick of recording his or herself before the negotiations to make sure that he or she sounds strong, confident and optimistic. He or she should also make eye contact and sit up straight at the negotiating table.

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This is when the first party repeats to the other party what he or she believes they just said, but in the words of the first party. This greatly cuts down the risk of misunderstanding and also helps build tryst between the parties.

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The negotiator can give feedback when the other party confirms that his or her message has been received and understood. The negotiator should be honest, positive but firm when giving feedback.

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This is when the party takes into account the emotion of the other person. If they sound angry or anxious, it?s important to know what?s behind the anger or the anxiety. If the other party does seem to be in the grip of a strong emotion, the first party should try to make him or her feel less vulnerable. This will help the second party feel safe enough to explain what it is that?s causing his or her emotion.

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Some types of questions can make the other person feel like they?re in an interrogation room being grilled for a crime they didn?t even commit. An open ended question usually doesn?t begin with the word ?Why?? Instead, the question is put in a way that invites the party to clarify what he or she just said.

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• Use ?I? Instead of ?You?

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When a person uses ?you? a question or statement can often sound accusatory, even if it isn?t. The negotiator should start a sentence with ?I? whenever possible and avoid arguments with or ad-hominem attacks upon the other party.

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Long silences are helpful. They prompt the other party to talk just to end them. The benefit of this is that he or she will give out more information.

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Supplied by Joe Shervell for?www.thegappartnership.com

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