CONFESSION: I'm a bit of a freak and LOVE to negotiate. In fact, it is one of my FAVORITE things to do in business. However it wasn't always that way and took a lot of practice (and error) before I perfected my own technique.
On this week's vlog episode, "Negotiation 101", I took the reigns and shared my negotiating experience and expertise with Right Hand Business Coach.
Watch below to find out why:
- negotiation skills are critical to your small business
- how to overcome THE biggest challenges of negotiations
- the MAJOR mindset transformation for successful negotiations
I've included a few extra pro tips below the video to help you get the most out of every negotiation.
BONUS: Negotiating Pro Tips
Here are a few bonus pro tips, not covered in the vlog, to keep in mind during your negotiations to help you get what you want and increase profitability for your business.
- PLAN - You can not wing negotiating and expect it to be successful. It's critically important to consider what your strategy is, where you are willing to bend, the various potential scenarios and outcomes, and what are you willing to accept.
- ASK FOR IT - If you don't ask, you won't receive. Ask for what you want and give reasons why it will benefit you and your partner. Do not hide behind passive or indifferent statements. Be clear and deliberate in your asks.
- LISTEN - Negotiation is a two way street. Once you've had the opportunity to state your case give your counterpart the same respect. You need to hear what they want to arrive a mutually beneficial outcome and listening is an important part of the process to creating a win/win result
- BE OPEN TO COMPROMISE - Negotiating isn’t about winning. It is about creating a win/win for both parties and a mutually beneficial result.
- TAKE YOUR TIME - If you get into your negotiation and it isn’t going quite as your hoped, don’t be afraid to take a little time to pause. It's totally acceptable to ask for a break or even another meeting at a later date to give yourself time to consider or reconsider the offers or to even give yourself time to re-strategize.
- BE NICE - So many people think good negotiating is about strong arming and are unwilling to compromise. That is straight up WRONG. It may deliver what you want in the short run, but people won’t want to do business with you in the future. Would you want to partner with someone who forced your hand? Being nice will get you much further in getting the results that you want. Remember, negotiating is about partnership and developing a relationship that benefits both parties.
You can join us LIVE every Tuesday at 1:30 CDT. Click HERE to follow Mod. Merchant on Facebook and watch LIVE each week.
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