The skill of negotiating is important to have in every facet of your life. We all use it every day, whether it’s bargaining over an item at a yard sale, compromising on bedtime for the kids or deciding whose turn it is to wash the dishes! It’s an important part of all elements of life, but when it comes to business, knowing how to negotiate can mean the difference between sink or swim in your career. There is a lot more at stake when you’re negotiating a big deal, a raise, or a salary, and you want to make sure you’re equipped with the right skills to help you get the most out of every negotiation.
Human psychology dictates that we will be swayed by our emotions and instincts. This is often helpful and self-serving, but sometimes this can work to our disadvantage. If we’re dealing with a cunning or strategic person, we may not even realize we are being manipulated and somehow wind up getting the short end of the bargain. We have to keep our wits about us and make sure we are well-versed on how to negotiate to get what we want. If you run into problems negotiating, this course on solving common negotiation snafu’s might be of help!
Here are a few tips to keep in mind for the next time you’re in a position to negotiate.
Don’t Leave Anything to Chance
Some people believe that you should just go into a situation, trust your gut, and play your cards where they land, but there is so much to be gained from doing a little (or a lot!) of advanced preparation for your meeting. Learn about who you’re meeting with, what their background is, what their motives might be, and what their end goal is. If you know what someone is prepared to offer, you’ll be that much more prepared to counter-offer and can often end up making much more than if you had been blindsided by a number you weren’t expecting. Do your research and it will pay off. You can find other tips on negotiating for salary in particular with this salary negotiation course.
Don’t Offer a Range
When you’re negotiating a deal, it’s tempting to throw out a price range like $30,000 to $40,000 for a project or salary. Anyone who knows how to negotiate will see that this gives them control over the situation, and they’ll know they have the power to push you back to the lowest end of the range. If you think you’re shooting high with $30,000, just state that amount. If you think $40,000 is shooting high but still reasonable, just state that amount. Chances are, whoever you are meeting with already has a number in mind so giving them a range is only going to harm you in the long run. Stick to your guns on this. Check out this FREE course on salary negotiation for more tips like this.
Before you go into a meeting, make sure you feel confident that what you are asking for or willing to accept is a genuine reflection of what you are able to accomplish or offer. This will make you appear sincere, which is a powerful tool in negotiations. No one wants to feel like they are being swindled, and if you’re asking for more than you believe you or your services are worth, people are likely to pick up on that and feel as though you might be untrustworthy to work with. It’s a fine line between accurately valuing yourself and knowing when you’re demanding too much. Figure out what that line is and try not to cross it. If you’re an entrepreneur looking for tips on negotiating, check out this Negotiation for Entrepreneurs course.
Be sure to check out our full range of courses on how to negotiate at Udemy.com!