Negotiation is an important ability that can help you in your professional and personal life. Many people do not understand the fundamental principles of negotiation. Understanding these fundamentals will make your next negotiation more successful.
1. Identify Your Goals
One of the most important aspects of negotiating is knowing what you’re trying to accomplish. This is called „negotiating your goals.” For instance, identifying the „must-haves” and the „nice-to-haves” in an offer for employment. This helps you remain focused when negotiating and makes it more likely to achieve a win-win situation.
2. Know When to Leave
It’s important to be flexible in negotiating and be mindful of the needs of the other side. If you request an increase in salary and the other party doesn’t think it’s in their best interest to agree to your terms and leave, they could walk away from the table. Knowing when to leave can give you time to think through different options and prepare for the next negotiation.
3. Avoid Using Threats
Negotiating can be a difficult procedure that involves several steps. However, there are certain tactics that shouldn’t be used. Threats can be a major deterrent, and they can cause the other party to feel that they’re being forced to do something against their wishes. A threat to be absent early from a conference can be perceived as an ultimatum and can cause disruption to the conversation. Threats can backfire and cause the other party to become defensive and less likely to listen.