While everyone wants more or better, the key to getting what you want in a negotiation is to make sure the other party is also getting what they want. That means that you need to understand the true motivation of the other party.
Understanding the other party’s true motivation is not hard. Sometimes, all you need to do is listen. Without prompting they will say something like, “I need this price or term because …” A good response on your part might be, “I see. Tell me more.” Often, the other party will explain in great detail about what makes this need so important. Generally, that specific need must be addressed for the deal to come together.
Some negotiators may need more coaxing. On the surface, they might demand a lower price and even threaten to go with a competitor. In this case, you may need to explore why price is so important. Sometimes it means that don’t see the value or the difference that your product or service delivers. It might mean that one or both parties rushed to negotiating price without exploring the buyer’s needs and how the seller’s solution met them. In this case, the seller needs to redirect the conversation back to the buyer’s needs and address them one by one.
As simple as it sounds, just slowing down can be enough to secure an agreement that pleases both parties. Balanced agreements pave the way for more business in the future.
John Bradley Jackson
Deja New Marketing
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