Let’s Confer about Successful Business Negotiation.
Imagine you’ve got a new hobby of Horse-Riding. You have also learnt about it. You do your Horse-Riding in your farmhouse. Now you’re feeling pretty Confident. And you’ve applied for Highly competitive national Horse-Riding championship. You’ve never done Horse-Riding in any competition ever. And, you get Shocking News that your 1st Competition is with Defending Champion called “PowerHouse”.
How do you prepare?
- Research Opponent’s strengths& weaknesses.[ ✔]
- Figure out a Winning Strategy for it.[ ✔]
- Just relax& think till competition.[❌]
- Keep your horse Healthy.[ ✔]
Obviously, you need to prepare for your match. It is the same, when you are doing Business Negotiation. If you want the best outcome, you need to prepare before you sit-down to Negotiation table.[NOTE:-If you want to listen this blog content ,click on the Sound button .And if you want to read this blog in your language click on the choose your language button( scroll up-top right of this page.)]
Today, we are going to see, How to do Successful Business Negotiation. We will discuss about precautions, because it is better to learn swim..before we jump into River. Only way to do Successful Business Negotiation is to Prepare, Prepare& Prepare. I’m going to teach you everything you should learn now. Because there is something, that you will learn from Experience. So, Be ready, without wasting a moment of time, let we Start. For Successful Business Negotiation, 1st we need to understand…
Concept of Business Negotiation
If you see Closely, then you will Realize that Negotiation is just a Name. Actually Success of Negotiation is based on People. Suppose, if people will like your product, then they will buy it. And Only then, You and your Negotiator partner will get Benefit. And your Business Negotiation will become Successful. So 1st priority should be People.
2nd Step will be Both of the Sides. Neither only you, nor your Negotiator partner. Decide your Goals and See if Your Negotiation help you to reach your goal. If it does, then you have to go Further to Negotiate. Also, see negotiation goals of Both of the Sides. See How your Negotiator Partner is Helpful for you[may be they can help you by Time, Money or Work Support.] You have to think all the things for your negotiator partner, what you’ve thought for your business, Including goals, products and all benefits.
This was the Simple Negotiation Concept, Which is based on Care. Just Care about this 3. (1)your business (2)your negotiation partner’s business (3) People. We are going to see deeply all the sentences of above paragraph. And This will give you Idea of How to do Successful Business Negotiation.
I’m giving you Link to Harvard’s Negotiation Master’s Class Program Guide Free Copy.
Know about Products
Your products must satisfy Customer’s needs. You should try different products in Market to get Experience about it. Because before negotiation you should be clear about your Product. And Also you can expect same for your Negotiator partner, Because both side should be equal. If you are done with both sides products, then you should also think about matching products. Think, How both products can work together. Even see its benefits and loses. Think about unique way to Show& Sell your products in market. If Yours and Your Negotiator partner’s Goals can be mostly satisfied, then your business negotiation can be Successful.
Note the Goals of Both sides
1st Decide your End Goal. What you want to Achieve from Negotiation must be very very Clear. Also Think about your Negotiation Partner’s Goals. Make sure, How you both will Help each other to achieve it, Because It is a common sense to understand that, why you are doing Negotiation?–To achieve your Business goals. So Simple! Yes, If you want to know about How to Set Business Goals-1, than click on it. Also see How to Achieve Business Goals-2.
Now, if you are Doing Business Negotiation, as a precaution It is safe to Check some points. I tell you what is it..
Approach Each customer with the Idea of helping him Or achieve her Goal, Not of a product or service.Brian tracy
Check your Points
Here I’m talking about 2 Points. (1)Need (2)Strategy
There are 2 Types of Needs. (1)People’s Need. (2)Your Need. 1st see, if you& your negotiator partner can complete People’s Need, Because it is base…If you can’t fill people’s Need, then There is no meaning of Negotiation. If you are O.k. with it, Then look at need of each other. As I said..its like Caring. You have to see all the things for your negotiator partner, what you see for yourself. You may compromise a bit, but some basic needs must be filled. And if is not, then you should move on.
If you want to Know some steps for How to grow Local business, then enter on it. Now I’m telling you about Strategy.
Strategy is very Important at Business Negotiation. You have to make common Strategy, which Includes People’s and Your’s benefit. Also make your personal strategy, which Includes this Negotiation strategy. If you have Goals, but You have No Proper Strategy, then there’s No way to Success for it. So 1st make sure both’s Needs and then Make a strategy which suits All, and work on it. Because, You and your negotiator Partner have to Support Each other on Strategic Level. And if not, then you should Move on.
Do you want to know Offline Marketing Strategies for Startups? You should click on it to know.
Be Able to Refuse
You already know, You have to be Clear about your Products, Needs, Strategy& Goals. But the Most you have learn to be Visionary. See, what results can be at Long term. Always Try to take a decision looking at Long term Strategy. If your Negotiation Partner offers something, which is harmful to you at the Long term, then you should clearly Refuse. Business Negotiation should be at least beneficial at 75% for both parties. And Yes, End Goal& Products should not be compromised at Any cost.
If you have Fine Vision about your work, Only then You can refuse Correctly. Because you do not have to miss any Opportunity. So, Be aware! Be live! and see, what is Good for you& what isn’t.
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Be Ready for possible Outcomes
It shows an Positive Interaction from your side. You can’t decide If your business negotiation will be Successful or not. But, if all goes well& suppose Deal is Final, then you should be prepared by bringing Documentation, Contract papers, Samples or Tools that you will Need to Begin.
My Tip of this Blog
Be a Caring Person
Suppose, You are Planting a Plant. If once you have planted it..You have to Care it. Give it Ideal Sunshine..Enough water. It also needs Specific Land& Fresh Air. Some time you have to Cut the leaves in the nose that hinders the growth of the plant. Even it can’t grow up, if you Over care.
Business Negotiation is just like it. There are 3 plants. (1)You (2)Negotiation Partner (3)People. You need to take care of all. 1st know, what is needed for it, and then take care it. It will make your Business Negotiation Strong.
- Be prepared before Negotiation. It is the best and proper way.
- Know your and partner’s Products.
- End Goal is depended on People, so Keep focus on People& market.
- Be able to Refuse and Move on.
So, Friends…it is Enough for today. Hope you learn Something well. Have a good week.
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