Cracking The Code TO Conduct Skillful Negotiation

INTRODUCTION:

A negotiation is a problem – solving process in which two or more people identify and discuss their differences and try to reach a joint decision for mutual benefit. There is no question that negotiation skills are utmost important in personal and well as in professional life. In today’s competitive environment, the ability to negotiate makes an individual highly valued than ever before.

Generally, it is a common notion that a skilled negotiator is aggressive, pushy and demanding, they coerce their negotiating partners into unsatisfactory agreements. But in reality, they are invariably pleasant warm and friendly people. Any person can blindly trust someone having such skilled negotiation skills for arriving at a result that is in the best interest of both parties.

THE ESSENCE OF A GOOD NEGOTIATOR:

To strike balanced and perfect negotiation, the negotiator should have following quality:

1- Sensible: Never lose temper or overreact. It is important to show your displeasure about the deal if needed, but with calm and composure make them understand.

2- Patience: Be patient to have a good negotiation. It is not easy to strike the deal. Therefore, with patience convince them

3- Confidence: Be confident and never show desperation in the negotiation meeting. Other parties will take undue advantages of the helplessness.

GENERAL MISTAKES BY A NEGOTIATOR

Sometimes people ask themselves – Why training on Negotiation Skills are important? It is because of following mistakes that an individual makes as a negotiation takes place:

1- Not knowing the ultimate goal before a negotiation. It will be helpful to do homework instead of thinking in the middle of negotiation

2- Rushing into things, where the situation is already tensed and a cool head is needed

3- Not paying attention to the body language while having a conversation. It is observed that up to 55% of messages are communicated through non-verbal signals

4- Refusing to compromise. Talking too much is a sign of nervousness, can lead to losing the negotiation.

5- Waiting for the other party to take necessary steps. It may result in changing the minds of the party. Unexpected

PROCEDURE FOR EFFECTIVE NEGOTIATION:

Therefore, for not committing such mistakes, the negotiator must go through these steps of negotiation:

1- Design detailed plan for Negotiation. Identify strategy and tactics to move forward the agreement

2- Build contacts with other party(ies). Furthermore, build rapport and expand the relationship.

3- Collect and analyze their background information and verify the relevant data about the people in the opposition party.

4- Build Trust and Cooperation with them and clarify communication with them.

5- Begin the Negotiation Session by addressing the issue. Exchange and share ideas and show openness to reason.

6- Generate Options for Settlement. Assess how interest can be met by available options.

7- Striking Final Bargaining and Drafting Formal Settlement

These steps will successfully develop the required skill set to become one of the efficient negotiators in the company and will take your career to new heights.

ADVANTAGES OF NEGOTIATION SKILLS:

Another question that people wonder – are there any good objective for taking training in negotiating skills? Here are some of the key benefits:

1- Creating WIN – WIN Situation: Best negotiators create such contacts where everybody walks out thinking that the deal is good one for them. Everybody is in WIN-WIN situation and that’s why training is so highly valued

2- Improving the Bottom Line: The goal of any good negotiation is to get the best at lowest possible cost. Even if there is 10% reduction in cost by effective negotiation, it yields huge profits for any company.

3- Maintaining Interpersonal Skills: Even after negotiation, the skilled Negotiator maintains healthy working relationship with those who were involved. They choose patience over aggression to persuade and thus maintain positive atmosphere during difficult negotiation.

4- Strong Verbal and Non Verbal Communication: Effective negotiators communicate their viewpoint clearly to the other side. They listen actively to find small areas of compromise and react proactively to achieve the desired outcome

5- Faster Decision Making Ability: Having negotiation skills develop the ability to act decisively during a negotiation. During an intense bargaining agreement, it is important to act swiftly and compromise if needed to end a stalemate. Concrete

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