Buyer or Seller – You Need to Learn to Negotiate

Negotiating

Buyers and sellers alike need to sharpen their negotiating skills.
    Each needs a set of strategies to deal with competition and competitive pricing in today’s marketplace.Sales people fall into the trap of the buyer telling them they will have to match their competitor’s price in order to get the business. Moreover, buyers need to ensure that they are negotiating the most competitive price at the quality and service their company demands.

What is Negotiation? Negotiation occurs when someone else has what you want
    and you are prepared to bargain for it – and vice versa.

Basic Skills for Negotiators

• Influence
  necessity, desire, competition and time
  consider where the balance of influence lies
  misuse of influence causes resistance
• Information
  incorrect information is worse than no information at all
  what do you need to know about the other side that will be useful?
  what is the best way of finding out?
  act like a detective to discover information
• Credibility
  make yourself believable
  don’t take your own credibility for granted
   
• Judgment
  The ability to strike a balance between gaining advantages and reaching compromises
  – patience keep things in perspective

  "What Makes a Good Negotiator?
Negotiation is one of the most difficult tasks a person faces.
It requires a number of qualities
not usually found in business. Negotiation requires good business
judgment and an understanding of human nature.

1.      Stable people, able to negotiate with him or her self and see the funny side.
Does not have a need to be liked.

2.      A willingness to plan, know the product, the rules and the alternatives
Probe and check information

3.    Good business judgment.

4.      Be able to tolerate conflict and ambiguity

5.      Commit to high goals and take risks to achieve these goals

6.      Have patience

7.     Get involved on a personal and business level

8.      Have integrity

9.      Be willing to listen with an open-mind

10.   Be able to see the hidden personal issue