How to negotiate, and when not to
Negotiations are not easy. There are some ways, methods and tactics that are used in game theory. Here is some food for thought for negotiations-
1. You lose a negotiation when you are in a defensive mode- Never be very defensive while negotiating. Either you will display an array of emotions or lose it totally.
- Be tough to an objective, kind to people- Always remember that you are working with a set of people who are a bag of their own personality, bias, culture and work experience.
- Be proactive, never react, just act- Be ready to make a difference by making proactive moves.
- Know how to close a negotiation- The greatest mistake of any negotiation is not to close one.
- Use co-operation like Prisoner’s Dilemma to create a win-win situation- To create a win-win situation, you need to build up the game in progress.
- Do not act too tough to negotiate- In case you act too tough or too soft, chances of failing are more.
- Negotiations are based on 3 principles as Logic, Emotions & Value- And a balance between their preferential treatment leads to a closure.
- Listen more for emotions, Act for intelligence- Listen for EQ, Act for IQ.
- Methods of negotiations are Bargaining, High-Low Emotions, Walk-Outs- You can stage a walk-out if you think that the negotiations are failing.
- Use display of emotions judiciously- This is the secret weapon, trust me.
- Vary degree of emotions across time-line- Vary your module of speech during the entire time-line.
- Understanding emotional status goes a long way- The right blend of EQ Vs. IQ comes into the art of negotiations.
- Push-Pull Syndrome- Push the other person when he is dropping his emotions, pull him back again with emotional sensitivity.
- Cultural Sensitivity- This is a very important factor while dealing with a person- his background and his geographical traits.
- Be prepared- The worst case scenario is to lose a negotiation deal by not being prepared.
Thank you for reading this note. I hope this small tricks can be applied to your negotiation while closing a deal.