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Successful Negotiation Strategies and Tactics

Sourabh Gupta Sep 29, 2018
Negotiation skills play a great role in a person's success. In today's world, if you can deal with people successfully and take your business forward, you are sure to emerge as a winner.
All of us at some point have come face to face with a situation that requires a bit of negotiation.
Whether its trying to pitch a sales idea to a client, closing a deal on a new home, buying a household appliance, or asking for a hike in salary, we all, at some point, discuss the purpose and reasons of our proposal. When negotiating with a second party, it's important to understand that there is an approach that needs to be incorporated into the mix.

Tips on Successful Negotiation Strategies and Tactics

Before getting into a negotiation it is wise and a prerequisite of any successful experience, to first understand and get to know your second party. Negotiating is when a businesslike situation presents itself, making you take on the role of negotiator and analyzer.
Learn about who you're dealing with as part of this situation, understand their backgrounds, and keep your ears open for important conversation snippets.
Keep your senses alert for when a compromise may be introduced. A party who understands what is at stake and what the opposite party is trying to accomplish, will want to reach a compromise if the negotiating is still unsettled.
Listening to what the said party is trying to offer as part of the compromise is crucial. If it works in your favor, then by all means shake hands and call it a day, but if you still think you can't settle, then use a reasonable approach to get what you want.
While both parties will have valid information put forward, there will always be one that supersedes the other when stating certain facts, reasons, or measures. During a negotiation, one of the two parties will propose a move that can be granted but with the acceptance of a counter need or expectation.
This can be a vice verse situation where parties later come to terms mutually, after all propositions are laid out on the table. A smart thing to do, is to also resolve any pending problems that either party may have, before deciding on how to tackle the actual case.
The first step in a negotiation is to speak first about what your purpose and expectations are as part of the discussion or deal. Make it clear that whatever is discussed within the four-walled enclosure is hopefully going to end with everybody's interests kept in mind, while parting on mutually sound grounds.
Once you're done with your part, let the second party bring forth their counter argument or proposal, as they then highlight what parts of what you said, work for them or not.
Since disagreements are a given in a negotiation-thick atmosphere, it is a good way to bring out both parties' issues to light. While differences can be handled successfully, it is a tact of the ruling party to come to a reasonable conclusion that works for both teams.
Listening and gathering possible evidence to support an argument or proposal is necessary, since going in with a plan of action is better than walking in empty-handed. This will help one party outshine the other when facts are laid bare and when practicality takes over.
While two parties are usually involved in a negotiation, there could be a third party waiting in the shadows for feedback on what has been decided. If the party present doesn't have the authority to approve an agreement, they should return with a confirmation from the third party or return with a second proposal in order, for round two.
Provide a written agreement that states the terms and conditions of the negotiation, or request for one from the second party. This assures that whatever has been discussed is confirmed, legit, and conclusive.
Using confidence and a predetermined plan of action, is what will successfully guarantee a negotiation gone right. These strategies ensure that things don't get heated, misunderstandings don't creep in, and that both parties depart on good terms. Using these basic tactics will help you seal the deal in whatever is it you are negotiating for.