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How to Negotiate

Discussion in 'General Business and Entrepreneurship' started by Small to Feds, Dec 11, 2017.

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  1. Small to Feds

    Small to Feds MVP Member Top Contributor

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    A successful entrepreneur must be able to negotiate. Debate implies winning. Negotiation seeks a win/win.

    Negotiation is an art, not a science. Negotiation is applied with various degrees of expertise. Like many other aspects of business, the intellect and experience of customer or supplier personnel will vary with the agencies and the companies with whom your are dealing.

    Develop a negotiation with a "target" position and a "floor" position. Your objective is to conclude the negotiation achieving a price as close to the target position as possible while never going beneath the floor.

    Courtesy and politeness are mandatory. Avoid confrontations. Do not reveal your strategy in front of the other party except to objectively explain your position in terms of an incremental offer or a counter offer. Excuse yourself for outside caucuses or adjournments whenever it is necessary to study an offer, assess a situation or develop your next move.

    It is always best to look at negotiations from a win/win perspective. Look for insights into the other party's negotiation position from the questions being asked, the data being requested or the responses being obtained.

    Defend your cost and performance position as conveyed in your proposal with documented facts. Look for openings in the other party’s proposal support documentation. When cost and profit negotiations commence, offer compromises and trade-offs of value to the other party in return for acceptance of your position.
     
    Alla Taff, Edvin and djbaxter like this.
  2. Leifstaff

    Leifstaff Member

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    Don't be afraid to ask for what you want.
     
  3. eWomenNetwork

    eWomenNetwork Member

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    1. Always start your discussion on lighter topics to make them comfortable, Show up beverages to share.
    2. Maintain good eye contact, positive posture and sit on same side of negotiator.
    3. Be clear for yourself about what you want more than anything. And what is far less important.
    4. Consider the other side’s interests when negotiating the deal. What drives them and how are you addressing it? Show them that you understand and want to address their interest too.
     
  4. CrazyOwl

    CrazyOwl Member

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    There are some rules that you`ll have to respect if you want to negotiate something.
    -Put up the idea that you can negotiate everything, some times it`s just not possible. But, it doesn`t mean that you have to give up. There are still a lot of that you can negotiate.
    -Don’t take it like a win or lose situation. As long as you are ready to hear “no” you`ll be surprised how many times you`ll hear “yes” in your negotiation.
    (As someone said “s#it happens” so pass over and stay calm.)
    -Make your own research before you start the negotiation. Otherwise you will not know exactly what is the real situation about this deal.
     

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