Knowing how to negotiate is a key issue for any entrepreneur. And like the ability to sell, this is a competition that you can develop through practice.
Far from getting nervous or panicking, negotiation skills training is a great opportunity to get what you want. We share eight tips to achieve more successful results and be an excellent negotiator.
1. Negotiate is not to wage a battle. Negotiation is not a sport where there has to be a winner and a loser. It’s not about beating your opponent in a battle. The best negotiators know that there is a way for both parties to get what they want.
2. Distinguish between an objection and a lack of information. If you are not able to do this, you may have a failed negotiation. The best negotiators understand that their prospects can be opposed to something for two reasons: an objection or a lack of information. You need to identify this and attack it in the best way.
3. Anticipate objections. If you do not know your counterpart, client or prospect in depth, you are at a disadvantage in order to negotiate with him. Besides that, before starting the negotiation you must review your proposal trying to put in his shoes.
Try to ask yourself in advance: what could you tell me here? What could be your reasons for not accepting what I am proposing? In which part could be confused or not understood well? Anticipating the objections can be useful to prepare you and know what to answer in case your prospect has doubts or questions.
4. Know the purchase process. Imagine all the possible scenarios of your customer’s buying process, the more you know the details of your potential customers before you get to negotiate at the table, the better odds of success you will have. That way in your next negotiation you will reduce the risks of “getting you out of the loop”.
The best negotiators (who have learned negotiation skills training course) know the details of the mechanics of buying their potential customers so that when they get to the table to negotiate, it is actually the right time to do so.
5. Know what your client wants. As basic as this point may seem. The best way to ensure that the negotiation is successful and that has positive results for both parties is to know perfectly what your client wants.
6. Close the negotiation without pressure. There are thousands of tips to successfully close a negotiation taught at advanced negotiation skills training. However, several of them include tactics that seek to put pressure on the customer. We have all gone through that: “If you do not buy it now, I will not guarantee you have it later” is a classic example of forced closure.
7. Know how to read between the lines. Regardless of whether the negotiation is in person or by telephone, you need to understand that sometimes a customer will not tell you everything they are thinking. Pay attention to what you are saying, but above all, imagine what the things are not telling you.
8. Know how to withdraw. It is not about being a loser, but if you have seen that throughout the negotiation the prospect remains in the same position, it is time to retire. As a negotiator, you need to know what your limits are and to know when it is not worth passing through.