Whether you’re buying a used car or a home, or discussing a salary rise, the key to good negotiating is to make everyone involved believe that they’ve got a fair deal. Often, people claim that you should always employ an ultimatum when negotiating, but in this case, you’d better be prepared to walk away with nothing most of the time. If all negotiating parties are willing to concede some ground, you can still reach a good deal. However, like all rules, sometimes the need arises for it to be broken! If you’re being exploited, for example being asked to do much work for too little money, perhaps the time is right to lay down a final offer and be prepared to walk away. So, how should we negotiate effectively? First, communication is of the utmost importance. Listen to the other person and find out exactly what they want. You’ll learn more about them in the process, and be better prepared for the next round of talks. On top of this your reputation as a fair, polite and respectful negotiator will grow. An overlooked but important factor to good negotiating to choose the scene carefully. A comfortable, relaxed environment will create a lot less hostility than a cold, dull office. That’s exactly why businessmen often have dinner meetings! One tip we often hear is that we should initially ask for more than what we want. Since negotiating usually demands compromise from both parties, this is indeed a good idea, as long as you don’t take it too far. It’s also important not to rush through negotiations. If you become impatient to just get the deal done, it’s usually you who will suffer the consequences, by either giving up too much or receiving too little. Remember, the other party is not your enemy; you should want both of you to succeed. This is known as a win-win situation!
