6 Ways to Master the Art of Negotiation

21st November 2022

We all have gone through a moment or situation in our day-to-day life where we have negotiated or at least try to. For example- We always try to negotiate our way out by bargaining while shopping at the local market.

No matter in which profession you’re in. You might have witnessed other employee to employer negotiations around you, or you might face a situation where you’re negotiating about your salary hike, negotiating on a job interview, or negotiating at the time of selling your products or services.

If you’re a Trainer who trains corporate trainers and employees or wants to become one then you must learn the art of negotiation. It will help you to create strong bonds and authority within your corporate circle wherever you give training. In addition, we recommend our Train the trainer course, which will make you a more capable trainer.

Now let us gets dive into everything there is to know about Negotiation skills.

What is Negotiation Skill?

Negotiation is more of an art than a skill of an individual having good interpersonal and communication skills that not many focus on. It can take you to new heights in both your professional and personal life.

Negotiation is basically where two entities are involved and one entity tries to create a win-win situation by coming to terms that both entities are getting benefitted in the end. Enhancing your negotiation skills will keep you way ahead of others and you can also get the outcome you want with the blessing of other parties.

How Successful Negotiation Looks Like?

In simple terms, Successful negotiation means when two or more entities are having a discussion on a certain topic and both entities can come to a common solution in which both agree.

However, you can reach towards successful negotiation only if both entities are open-minded, and have a professional and growth mindset. The best effect of a successful negotiation is it creates mutual understanding and respect between two entities; their bond becomes stronger which makes the possibility of doing business together in the future as well.

Now, let's get to know what skills you need to learn which will helps in enhancing your negotiation skills:
 

1. Make early preparation:
   
   Before entering the arena of negotiation, it’s better to do some early preparation for a better outcome. Try to understand - What are your boundaries? What kind of stakes is dependent on that deal? What are your needs? According to different situations, What actions you can take? At what time you will walk away from the deal? Make yourself prepared for as much as possible kinds of scenarios & outcomes. Try to think how other entities will think and react to the possible scenarios in which you have made yourself prepared.
    
2. Be Confident:

   “When a person is confident they focus on themselves rather than on other people.” In every profession, while you’re going for a negotiation, you’re not just a person who’s negotiating, you’re carrying the reputation of your organization as well.

   So make sure you’re confident and know about your business better than everyone while negotiating, so it shows to other entities you know what you’re talking about and you know what’s good or bad for your organization.

   While you’re confident it will help you to create a perfect deal or counteroffer as well and most probably you will get the desired outcome as well because of your confidence.
    

3. Try to read emotions:

   Emotion is a two-way sword in negotiation. It can go in your favour or it can take the deal away from you. Start building a habit of using emotion and understanding other entities' emotions and acting according to them.

   For example- You can show your cheerful and positive emotions to gain the trust of another entity side. If you master the skill of understanding other emotions and using them properly, then it will definitely be enhancing your negotiation skills.
    

4. Try to create and give value:

   We have a habit of thinking about our benefits first. But if want to become a successful negotiator then you need to start thinking about what value you can provide from your side rather than just focusing on what other entity is bringing to the table.

   During negotiation, try to observe what they want, and what they value the most. After that think whether you can compromise from your side to provide what they want the most.

   However, that doesn’t mean you are willing to give everything they want, remember the main motive which is to get what you want. The best solution is to create a win-win situation, where both entities are satisfied with the deal.
    

5. Become an attentive negotiator:

   “Listen more often, than you speak”- Howard Baker.

   Instead of just stating your points, listen to your other entity first, what they have in their mind. Try to ask as many open-ended questions during the negotiation to them and then listen very attentively.

   Once they start giving answers to your questions in flow might get some important information that may help you to prepare a counter-proposal. This will also give an impression to other entities that you’re a good listener and it will also make them heard.
    

6. Track your progress:

   “Nobody’s born with the skill inherited.” With time, people learn skills with determination and discipline. Therefore, you might not become the best negotiator in one day.

   You just need to be consistent and do it with confidence. As the day passes, you will be becoming good at it. Moreover, you will reach a level where you are that confident that you know which deal is best for your organization and which one is not.

   With experience and confidence, you can counter the offer or even walk away from that deal as well, which will create an impression that you’re not desperate for the offer & helps you to gain respect for the room.

Final thoughts:

To learn any kind of skill, the process is the same. Rinse and repeat! No matter in which profession you’re in, you can become a successful negotiator by doing it repeatedly and doing a self-reflection analysis that where you get right and where you go wrong. In addition, if you’re a trainer then you must master the art of negotiation, because in the corporate world employees and employers both know how to negotiate, mostly because of Employee-to-Employer Negotiations happen more frequently in every organization.

They want more from a trainer, more hidden tricks, so as a trainer you must have in-depth knowledge of Negotiation to become successful in your field. For aspiring Trainer, we recommend our “Train the trainer course” which will make them more capable to handle corporate training of negotiations.

Always do your homework before going into any negotiation & you must know your BATNA (Best Alternative to a Negotiated Agreement) which means which deal is good for your organization and in which situation you should walk off from the deal. Just follow our negotiation skills guide which will definitely will be enhancing your negotiation skills. Lastly, remember during negotiation always go with confidence.

Written By : Park Jin Ae