The Art of Negotiation
5 Tips from Top Businesswomen
1. - Overprepare: Before entering any kind of negotiation, take the time to organize yourself from an informational standpoint. Write out why you are negotiating for whatever it is and the reasons for it. When you're clear on your rationale, assemble any research that supports your argument.... If you want to ask for an assistant, for example, examine the standard criteria for hiring an assistant within your company. How many people does an assistant typically support? What kind of revenue does a department have to produce in order to justify having an assistant? Most of all, be ready to convey how an assistant could add new value for your organization.
2. - Keep the Ship Steady: Prepare not only your facts but also your demeanor. Walking into a negotiation without preparing can be disastrous... Show that you're optimistic that a solution can be reached that can satisfy all parties. You can also boost yourself up emotionally by dwelling on your strengths and abilities; concentrate on several of your past successes to increase your confidence and optimism. Regulate your emotions by role-playing the negotiation with someone you trust beforehand.
3. - Ask Questions Strategically: In a negotiation, open-ended questions can be extremely powerful. These questions open up dialogue and can buy you more time if you need to gather your thoughts. Examples include: Can you explain how you arrived at that solution? What is keeping us from coming to an agreement? How can we move forward?
4. - Use Silence for a Change: When you use silence strategically, you're not over-promising or under-selling in ways you will later regret. You'll not only be able to contemplate your next move, but silence often makes your counterpart share information, restate their position, or try to guess what your position is. Each of these attempts to break the silence put you in a more favorable position.
5. - Look for Mutual Gains: Look for a way for both parties to win. One of the women executives I interviewed for my book, Roxanne Spillett, President and CEO of Boys and Girls Clubs of America, advised, "Look for a 'win-win' in relationships and negotiations. Every time you think there's a 'win-loss' situation, look for ways to make it mutually beneficial."
Read the full article at: http://www.cbsnews.com/news/the-art-of-negotiation-5-tips-from-top-businesswomen/
Patty Block, President and Founder of The Block Group, established her company to advocate for women-owned businesses, helping them position their companies for strategic growth. Charting the course for impactful, sustainable, profitable businesses, the beacon is control: of your strategic direction, your money, your time, your staffing, and your ability to bring in business. The Block Group brings together the people, resources and ideas that build results.
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