NEGOTIATING IS ALL ABOUT THE SPUR OF THE MOMENT ? OR CAN SOME FORETHOUGHT AND FORESIGHT GIVE YOU A DEFENSE ARMOUR?

THE COMMON NEGOTIATING  MISTAKES

  YOU CAN MAKE (AND REPEAT)

1.     LACKING CONFIDENCE.

Some people think it takes a bold or brazen personality to negotiate a deal, and others think experience is required. Instead, negotiations takes tenacity and preparation.Before you start the process, make sure you’ve identified mutually desirable terms, anticipated possible objections, and determined what motivators or ‘hot buttons’ will resonate with your opponent. Projecting confidence also means having a heart, which is often endearing and gives the opposition a less defensive stance.

2.     NOT BUILDING RELATIONSHIPS FIRST.

One of the biggest mistakes individuals make in negotiations is not getting to know their opponent. Slow down and make connections with people and you’ll glean useful information that can be used to identify what they value in life, what motivates them, and what annoys them.You might be surprised how well you can leverage what you learn through a genuine conversation with someone.

3.     DEFEND OR ATTACK. 

Try to understand any moves the other party makes. If they do something you don't understand, don't get defensive. Say, "That's one way we could do it. What other options do we have?" If you attack their ideas or motives, you lose your credibility. If someone attacks you, instead of defending yourself, say, "I'm sure you have good reasons for saying that. Can you help me understand them?"

4.     ASSUMING THAT SOMETHING IS NON-NEGOTIABLE.

When you think like a negotiator, everything is negotiable, When you decide that the terms for anything can be changed in your favor, a world of opportunity presents. Rules can be modified if you simply propose an ethical, viable, and mutually beneficial alternative solution. Powerful negotiators are rule breakers.

5.     LOOSE YOUR COOL AND CALM BY PROVOCATION 

 A good tactic of tricky negotiators is to let the counter party loose their cool and calm ...which in turn numbs their mind to calculate and reason. Getting angry or frustrated because things don't go your way doesn't help at all; it only gives the other person an advantage. Don't try to gain leverage by putting other people down. Stay focused on your outcome—closing the deal.

6.     TAKE THE FIRST OFFER OR COUNTEROFFER TOO GLADLY.  

When a prospect gives you their first offer or counteroffer for your product or service...ALWAYS show a lack of preference without outright rejecting  it. Chances are they'll make a higher offer the second time around or least you still have the first offer

7.     NOT ASKING FOR WHAT YOU WANT

It sounds simple, but the key to successful negotiations is asking for what you want. Fear of rejection or the fear of looking greedy can get in the way. But know that rejection will happen.Rejection is never personal. It’s merely a reflection that you did not present a viable argument substantiating why you should get what you want. Your offer was rejected, not you.When you get a no, it means the other person needs more information."Take heart in knowing that people say no an average of three times before they say yes,The only way to master the art of rejection is to get rejected and keep asking.

8.     MAKE NEGOTIATING A BLAME GAME:

  If a problem arises, even if it's the other person's fault, don't place blame. The other person will only become defensive. Instead, concentrate on finding a workable solution.

9.     TALKING TOO MUCH.

Talking too much is a sure-fire way to kill a deal. In fact it’s not unusual for a salesperson to talk so much about a product or service that they talk you right out of the purchase.Never underestimate the power of silence...There’s an old adage: ‘He or she who speaks next loses.’ When discussing a deal, if you simply stop talking and get comfortable with the awkwardness of silence, your ability to win your argument, sell the product, or a get concession in the negotiation increases significantly.Present your most compelling arguments first. If they agree with you, move on. If they disagree, try to understand their objections before offering additional arguments.

10. USE CHEAP MANIPULATIVE TACTICS.

 Great negotiators do not use tricks or manipulation. Avoid bluffing or misleading the other person. Be honest and sincere. Negotiating in the classic diplomatic sense assumes all parties are more anxious to agree than to disagree.

11. FORGET TO NEGOTIATE ON NON-CASH DEAL COMPONENTS. 

For instance, you may offer a far superior credit policy or better payment terms than your competitors. You may also carry a far better guarantee. Your prospect may not know this. Do you assemble merchandise where your prospects are located? Do you offer same-day delivery? Does your company have superior expertise that your prospect can benefit from? If so...let your prospect know!

12.  STAY ON... AND DON’T  WALK AWAY FROM A BAD DEAL. If a deal isn't right—walk away from it. Never get emotionally involved in completing any deal. Some deals just aren't worth the time and effort. Another prospect will always come along.You must never try to make all the money that is in a deal. 

13 TRYING TO GRAB EVERYTHING...Let the other fellow make some money, too, because if you have a reputation for always making all the money, you won't have many deals 

Best of luck

Dr Wilfred Monteiro