The fundamentals of negotiation

Happy new week! Today we are all about negotiation, whether it’s a project you are proposing or a deal you want to seal. So what is essential in negotiation?

1. Communication: It is very important to express yourself, through verbal and non-verbal cues i.e. body language. Engage with your listener so that is not a one-sided conversation.
2. Listen intently: Besides communicating what you would like, it is also very important to listen to and understand your audience’s point and view. Avoid being passive in order to be able to engage and listen to feedback. Your listener also feels heard.
3. Manage your expectations: It is important to enter a negotiation with a clear goal. However, you can adjust your expectations if you feel that you will not be able to agree with each other’s terms. However, do not lose yourself in the conversation, know how far you are willing to compromise.
4. Integrity: In every negotiation, it is important to be respectful, honest and thoughtful. It is also important to be able to deliver on your promises. Avoid overpromising though as a way to try to persuade your listener as it will be difficult for you to eventually deliver.
5. Ability to solve a problem: It is important to see a problem and solve it in the process of negotiation. Eg, if raw materials are scarce what can you do to increase supply? Being able to provide solutions is very essential to reaching a compromise.