I often tell entrepreneurs that the ability to sell is the most important skill you can learn. Be it in relationships, trying to get a job, seeking funding or selling a product, the skill of selling is key. Very close to this skill is the art of negotiation. Most times you will not sell your idea, product or service right away, instead there will be a period of back and forth negotiation. Here are some tips I’ve learned along the journey of life that I think will help you become a more powerful negotiator.
- Remove your ego and personality. Picture yourself as a objective third party whose goal is to make sure all parties win.
- Research thoroughly the company or person you will negotiate with.
- Always listen to the other party’s interests and point of view first.
- Remember that if you do not negotiate with your customers, someone else will.
- The more options the other side believes you have, gives you more leverage when determining terms.
- Do not skimp on your preliminary research of facts and information regarding the topic of negotiation. Think through options and alternatives.
- Minimize risk for the other side to help move the negotiations further and faster.
- Always ask for at least 100% of what you want up front.
- Never make a proposal unless you understand what the other party wants and why.
- Be willing to walk away.
What are your top negotiating tips?
May 23 2009
Don’t negotiate jack shit. Instead, price fairly and add more value than you cost. Negotiation is for pussies.