| Eve & Elle Admin
From board room deals and salary negotiations to the golden handshake, being great at negotiating tactics will accelerate your career and improve your lifestyle because you’re getting what you want and helping others get that too.
Here is how to be prepared for successful negotiation, with our top 10 tips to get you what you want in business and life:
# 1 Know what you want and ask for more
Know exactly what you want to get in a negotiation. Visualize the ideal situation of what you want. Write it down for yourself in your meeting notes.
A great technique is to add more to what you ask for, on top of what you want. This gives the other party some room to satisfy your demand. It also let’s them feel like it’s a win for themselves because you are then able to accept a lower offer, and still be getting exactly what you want.
#2 Do research. What do they have to offer?
In a negotiation, what each side values and wants can differ from each other. For example, a company may be very interested in gaining a specific type of talent and experience that you have. They may be willing to offer much more money for that that you set out to have as a salary. Knowing what the other side of the bargaining table values and can give you, helps you to make sure you’re not leaving money or other resources on the table.
# 3 Know when to walk away
Prepare your minimum acceptable offer, beforehand. In investing, this is called a stop loss. It’s your bottom line of what you are willing to accept comfortably.
# 4 Be creative. This is the art of the deal
Often people forget that there are other things to negotiate than money. Figure out what you and your conversation partner value. You can ask for these things or offer what they want, when you’re close but can’t agree on the money, but you can sweeten the deal from both sides.
If you’re negotiating a job position, A lot of executives need space and resources to work effectively. If this is like you, negotiate for more benefits, a higher spending budget, a certain colleague to be transferred to your team, vacation days, travel expenses, or a higher commission or performance-based bonus. What ever it is you need to have a great day-to-day and compensation package.
# 5 Use your body language, pace and tone
Be in control of your emotions. Using your body language and the way you speak is proven to be ultra-effective in negotiations. Remain calm, subdue your reactions and keep the deal focused on the facts. Remember that any emotion or gesture you show, is extra powerful because there is tension in the situation on both sides and your every move is being weighed. You’re constantly looking for signals to move your deal ahead too. Remain calm and poised at all times.
# 6 Get it in writing
Get the verbal agreements and offers made to you in writing. If possible, get this before you leave the meeting. A written and signed offer is easier to use as evidence, if the other party decide to back out of their side of the agreement. Get the offer and details in writing, so that you can review and reflect on them as well as discuss, before you sign.
#7 Never sign without reading it first!
Whether it is a simple standard procedure or a 20-page contract, and even if the other party laughs at your thoroughness, you should always read what you sign, very carefully.
Check that everything is written in the agreement, exactly as you understood it to be.
# 8 Take time to reflect on an offer. Call them back
If you need to take more time to sign, go ahead and do it. If you’re on the phone, ask the other party if you can call them back. This gives you time to reflect and prepare your response.
Never let someone pressure you to sign something before you leave the room.
Here are some important tips for a heated negotiation; If the other party threaten you with for example your job, you still have every right to walk away. Just make sure that you verbalize that you are walking away because you “want to find a solution but you need to think, you feel threatened or another reason that fits the situation”. For legal reasons, it’s important that you make clear that the negotiation has not finished and that you are cooperating. If you get stuck in a situation, call someone for help or back-up.
# 9 When you get what you want stop or ask for a little more
When you finally come to an agreement that suits you, finish up the deal quickly. You can talk someone right out of sealing the deal if you drone on.
You can also politely ask for slightly more than offered, if you think and feel that there is some bargaining room left on the table.
# 10 Create a Win-Win
Use negotiations to build rapport. Usually, we will see people more than once in our lives, and if not them someone in their network. When you create situations, where you both win the deal, it creates a productive and positive situation for everyone and it makes people want to work with you or recommend you in the future.
So the goal is…
The goal is to get what you want and create win-win situations wherever possible. Wealth is more fun and effective when it is shared.
Download your Cheat Sheet to help you prepare fully for your meeting:
Success with your deals and let us know how it goes! What did you get out of the deal? Share with us on all our platforms. We love to hear from you.