Pulse List Dear entrepreneurs, you need these 3 tips to be a better negotiator

To help you master the art of negotiation, here are 3 tips you should consider

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Negotiation is an integral part of business. play

Negotiation is an integral part of business.

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As an entrepreneur, you will have to negotiate with someone of an organisation at some point. It comes with the job. It’s inevitable across various spectra of business: hiring, partnering, merging and even firing, sometimes. 

To help you master the art of negotiation, here are 3 tips you should consider: 

  • Negotiation is another form of asking: You can’t be successful at negotiations if you don’t negotiate to start with. If you do not negotiate then you take whatever is thrown at you lying down. Remember that any part of any deal/offering/situation is negotiable. 

  • Be confident in your value proposition and power: Be aware of what you and the other party is bringing to the table and make your moves accordingly. Never accept what doesn’t reflect the true value you are bringing to the table and always stay firm when you take a position.

To be a master negotiator , you have to know your strengths and weaknesses. play

To be a master negotiator , you have to know your strengths and weaknesses.

(collinson)

 

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  • Persistence is key: If a negotiation falls through, that doesn’t that has to be the end. If there is no other entity that can deliver what you want at the level you desire, you can always re-open negotiations where you’ve had them before. Also, be ready to compromise where it doesn’t hurt you too much. To be a tactful negotiator, you have to be constantly open to compromise. 

No one really knows it all when it comes to negotiations, especially because there is always so much at play (even how a person is feels about a random news report can affect the result of a negotiation). But that doesn’t mean there are useful strategies you can apply to get the best outcomes, most of the time. 

If you know any other useful strategies for better negotiations, please feel free to share with us and other entrepreneurs out there. Happy hunting!