Negotiation is part of most human interactions. Whether you want to get a better deal when buying a car or arrange a time to meet a friend, some level of negotiation will probably be involved. However, negotiation is not everyone’s strong suit. If that’s your case, don’t worry. We have two ideas to help you become a better negotiator in no time.
Focus on the Prize
This simple trick can improve your negotiation skills almost automatically: Focus on the prize. Envisioning the benefits of reaching your goal will help you become more open to risks and more relentless in the pursuit of what you want to obtain from the negotiation.
The benefits of this approach were demonstrated in a study conducted by Columbia University researchers. The results show that negotiators with a “promotion focus” get better results by making more extreme opening offers in their favor and by claiming more resources during the bargaining process.
Emphasize the Other Party’s Potential Gains
While your inner focus should be on your goals, during the negotiation process you should emphasize the potential benefits of your offer for the other party.
Why should you frame the conversation around the convenience for the other person? Easy: this will make the other party become risk-averse. In other words, people are reluctant to lose the gains they feel as theirs already. So by showing someone how close they are to getting something, you bring them closer to accepting your offer.
For example, let’s say that you are negotiating the price of a smartphone with a friend. You could say: “I can’t spend $300, but I can give you $250 right now so you can finally buy that gadget you always wanted.”
The idea of having the money within reach and the lure of a purchase they’ve been planning for long may persuade your friend to take your offer—and save you $50.
More Resources for Entrepreneurs
These are some previous posts you can check out for more ideas about negotiation and entrepreneurship.
- How to communicate more effectively at work
- 4 Ideas for entrepreneurs to take it easy as parents
- How to conduct successful webinars
- Adapt to new consumer trends with these ideas and tools
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