Do you think all those paper work and theories of negotiation in school are all what you need to have that agreement made? Or to get a deal done either as an agent, a company executive or CEO? Then you really need to be prepared for a challenge. Yes, prepare for the worst even if that seems to be the view of a business pessimist. This is business, not that family interaction which sometimes end up with an emotional “sorry”. Although, we can also learn some negotiation techniques from informal interactions. Before you embark on negotiating an agreement that is likely going to decide the fate of your company or business carrier, these are some few tips you should know.
Techniques for negotiating an agreement
Setting the Pace
If you are making an offer, go ahead and set the agenda. If you allow the other party to attack first, you may be on the defensive side for most of the period of contract negotiation. Don’t allow the other party to take initiatives. Taking charge of the conversation doesn’t mean you’re selfish and inconsiderate, it allows you to make your points clear and wait for response.
Be fair, Stop demanding too much
Contract negotiation is not a one man show. Being fair means you are not selfish and that you are prepared to shift grounds. One evidence of being fair in the course of negotiating an agreement is allowing the other party to have a say. You can simply ask “what do you think”? “Is that OK by you”? Placing too much demand could connote that you are trying to take advantage of the financial might and capability of a prospect.
Focusing on interest
In the book “getting to Yes”, authors are aware of the negative impact of mixing issues of business concern with personal issues. They point out the need to separate the persons involved. That is, the totality of our personality including our biases and stereotypes away from the negotiation table. You will save more time and energy emphasizing on your aims and the terms of agreement in the course of negotiation. This can be done without having to discuss about yourself and your rich bio.
Give room for concession: Negotiating an agreement is not a win-win situation. You are not likely going to expect that your prospect accept the components of the proposal without giving a fight. Give your prospect a leverage to fall back on. You could allow him/her fix time, agree payment on lump sum or make the cost of a project for instance elastic, so as to give him/her more bargaining power.
Get your facts ready by presenting figures. It shows that you are not only capable, but also accountable. Most times, we are so much engrossed in trying to get the contract deal done. When that happens, we often forget to create a lasting visual imprint in the minds of those at the negotiation table. When negotiating agreement at a panel for instance, where communication is strictly formal, graphical presentations or power point tools can do the talking for you without stress.
Clients and customers are what makes businesses function, survival is made possible when there is a standardized customer service. Standardized in the sense that it is able to integrate best practices of customer care to appeal to attract more customers. When your business isn’t doing fine, it is imperative that business owners develop a more comprehensive framework. Especially for dealing with Clients. The success of a business is largely determine by the quality of their customer service. If you have discovered that your customers are not coming back, there’s the need to ask what exactly customers want and how can you provide it.
Get a loan from the best money lenders in Singapore today. The money lenders we find you are definitely reliable.
If you need a loan, you can drop us a message here. We will do our best to match you to the best money lenders in Singapore.