Negotiation skills have a purpose in business and that is to help bridge the gap between two parties and come to a decision which benefits both sides. Usually, negotiation means that a compromise must be made, and in order to successfully close a negotiation, you need certain skills. Here are the skills required and how to obtain them.
Know Your Goal and Outcome
Running into negotiations before you know what the goal and the expected outcome of those negotiations are is like rowing without a clear purpose through dense fog and a storm; you are likely to find shore but you will more likely be capsized or hit a formation of rocks. You should set your upper and lower boundaries, in order to get the most out of the other side, but not rip them off and vice versa.
This skill is learned through practice, albeit there are several online courses which cover it.
Know the Other Side
If you want to negotiate something, you should know the other side. Do your research on them, their culture, their business approach, whether you can be friendly or not, what kind of greeting is appropriate, etc.
This skill can be learned by talking to people in general, or just researching people before you talk to them. It is a skill you can transfer from everyday life. For example, you will probably not buy your mother roses if she clearly said a million times that she dislikes roses.
Know Yourself
This one is a bit trickier as people tend to forget about themselves in the process of negotiation, and even outside of it. If you know your own, personal limits, you can then better plan ahead. You should know your worth, what you can bring in terms of skills and traits, never underselling yourself. You shouldn’t oversell yourself, either, as that usually leaves a bad impression once the truth comes out.
This skill can be learned through everyday experiences, just be sincere towards yourself and ask of others to do the same.
Listen and Pay Attention to Your Emotions
Sometimes, people will say things just to provoke you, especially in the brutally competitive world of business. Sometimes, they will say those things to see whether you have a reaction. Do not be emotional when negotiating, be calm and distanced, but present at the same time. Your emotions have nothing to do with the business deal and displaying them might just turn the other side away.
By listening, rather than talking, you can learn more about the other side, as well as notice the details that are necessary for successful negotiations.
Both of these skills can be practiced in your everyday life, by listening to people around you and yourself, as well.