One of the most powerful tools in a negotiator’s toolbox is silence: absolute, blank-faced, quiet. It can be used when confronted with a tough situation, when given news that is too good to be true, or when you just don’t want to say anything stupid.
Not all negotiations end with a happy agreement. Sometimes the gap is too great for the two parties to meet without one of the parties making a very significant sacrifice.
A very cool negotiating technique that is easy and has proven to be very successful is what I call “one more thing”. Let’s say that you have been negotiating an agreement, have made a few concessions, and are ready to finalize the agreement. In the back of your mind is a lingering doubt that maybe…
A common mistake is to go into a negotiation thinking that there is only one acceptable outcome: what you want. One of the best things you can do to prepare for a negotiation is to think about all the possible options that may exist for you and the other side.
My blogs on doing business with other cultures have generated many positive comments and it was suggested that I take a look at the Middle East. For starters, here is a look at doing business in Egypt.
Recently I wrote about “anchoring” which is the first offer made in a negotiation. Someone has to start the process and sometimes that means you. The first anchor is frequently called the “opening anchor”. Generally, it is price, but it can be quality, delivery date, or quantity.
When negotiating, it is legend that he or she who speaks first loses (or wins less). While I agree that “silence is golden”, you will often be required to make an offer to get the negotiation started.
I recently read “Women Don’t Ask: Negotiation and the Gender Divide”, a book written by Linda Babcock and Sara Laschever that explored the subject of women and negotiation. I was frankly shocked by the findings in this book.
The Japanese are world class negotiators and do business very differently than their American counterparts.
As the world gets smaller, it is increasingly important to understand Chinese culture and business practices. For many entrepreneurs, sources of supply are frequently found in China, while others might look to China as a market for products.