Your guide to effective negotiations

Negotiations are an integral part of life. Whether it is a job offer, talking to clients, a salary negotiation, or trying to sell your idea to someone — we will not always get what we want and this is where negotiations come to play. It is a very effective skill to have and to achieve that there are a few steps you can take. Here is your guide for effective negotiations.

Do your research

Research is the foundation of effective negotiation. It is of paramount importance that you do thorough research before engaging in any negotiation. Not only does this give you a clear idea about what you want but also an answer to any counter-question and query, and looks well equipped and prepared. 

Leave emotions at the door

It is imperative that you are driven by logic and not emotions while negotiating. Emotions can cloud your judgment and make you lose sight of what is important so it can push you off your game and that is something you cannot afford. Be mindful of your emotional triggers and do not take anything personally during the negotiation. Emotions make negotiations less effective.

Be attentive and ask questions

Do not hesitate to ask questions to your counterparts while negotiating. You need to be crystal clear of any expectations and goals so you cannot leave any stones unturned. Make sure to be completely present at the moment and not be someplace else. Listen to every word attentively. Clear out any confusion and do not shy away from asking "Why?"

Present your terms clearly

We cannot stress enough about how crucial this point is. This is the base of your whole negotiation. Make sure to be articulate about what you want and properly convey your terms to your counterpart. Keeping a list of priorities in mind can also help out in this regard. Identify what is most important to you and try to build your case around that but make sure to communicate them properly so that you can walk away with a good deal.

Don't overdo it

By this, we imply two things; the first being to avoid over-negotiating. I know we asked you to not be flattered too easily but it is also important to not get too excited when circumstances work in your favour and take advantage of it. Over-negotiating runs the risk of the entire thing going to shamble. The second implication is to not overcommit. Do not promise results that are not feasible to achieve.

Present multiple options

Do not shy away from presenting multiple offers at once. Formulate a few options that allow you to get what you want and see which sits best with your counterpart. This also gives both parties an opportunity to brainstorm together and come up with solutions that benefits everyone involved. This also lowers the odds of you walking away from the negotiation without any results.  

Suggest trade-offs

If you find your counterpart to be a tough cookie to crack even after presenting multiple options. Try suggesting trade-offs by identifying elements that can be relaxed from your counterpart's end and can also make life easier for you. You may get a slightly watered-down version of what you want but it will also be easier to execute for you.

Always remember that it is okay to walk away

Just because you have spent hours researching and thinking about your strategies does not mean that you must get an outcome out of this. Do not settle for anything less than what you were looking for just because you do not want your effort to go to waste.