14 secrets of talented negotiators

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We’ve all witnessed a seasoned negotiator win over a client or colleague and wondered how on earth they managed it. As such, this ability is often deemed to be the preserve of skilled salespeople.

But negotiating isn’t just about brokering a multi-million deal for your organisation. We all have to negotiate our way through our careers – whether it be finding a new taker for your product or service, convincing your boss to award you over a colleague that juicy departmental project that will get you noticed, or agreeing who does what among a project team.

No surprise then, that 90% of everywomanNetwork members have told us that they want to develop their negotiation skills.

We’ve asked some of our everywomanClub members – all highly skilled negotiators – to share the secrets of their success.

 

Ruth Huddleston, Author & Publishing Consultant

Early in my career I was sent on a negotiation course at the Institute of Marketing. The revelatory insight I took away was to always remember that the person you’re negotiating with is there because they want what you are selling; so never feel intimidated. It’s always good to bear that in mind.

My other golden rule is to always go for the best possible long-term outcome for both sides. You want your customer to feel that they have gained, not lost.

The rules for selling apply to any business relationship that you want to build into a long-term partnership (ideally this includes all your business relationships) – build safeguards into the deal, but make sure that it can be flexible to growth and change as your businesses and circumstances evolve.

Finally, it’s worth taking the time out before any negotiation to list the obvious costs and benefits to each party (not just from a financial point of view) – and then brainstorm some less obvious factors which could be brought in to play. Try to look at the deal from everyone’s point of view. In some ways this is easier for a small company because you all agree that you can sacrifice profit now for long-term gain, but the benefits should be understandable to a larger company too.

 

Anna Lee, Co-founder, Storm watches

It’s essential to prepare and set out what you wish to achieve before the meeting; once you’re clear what you’re aiming for, identify points to highlight which justify and support your requirements. Don’t be afraid to set the benchmark high – you can always manoeuvre down, but going up is difficult.     

 

Jacqueline de Rojas, Non-Executive Director, Home Retail Group; Board Member, techUK

Remember it’s not about you; it’s about the person or group you’re negotiating with. In other words, it isn’t about how you sell; it’s about how your customer buys. Be clear about their needs, their timeframes, the compelling event or events that will drive their decision making.

Be clear about how you will better help create their vision or solve their problems over any competitor.

Don’t close the deal before it’s close-able. In other words, be clear about when your buyer is ready to buy. If you strike at the wrong time, all the negotiating skills in the world will be entirely redundant.

Go beyond the brief. If you’re selling a product in line with a brief, you may not offer enough differentiation from your competitors. Take the opportunity to look at where else and how differently you can add value to accelerate the outcomes your buyer is looking for.

 

Nicola Sangwin, Founder, Amethyst London Ltd

Never be aggressive. Always be ready to compromise. Be ready to say no if the proposal that comes back really doesn’t work for you – in a nice way, obviously!

 

Laura Reeves, Managing Director, Caremark MidSurrey

Make your expectations known clearly and concisely, and stand firm but be fair. Do your research and have facts and figures to back up your case. I have learnt that by following these three tips, I have secured some fantastic discounts for my business, from equipment to advertising space.  In one instance I negotiated a 75% discount!  It doesn’t hurt to be a little cheeky too!

 

Katrina Roberts, Vice President – Head of European Technologies, American Express

Listen carefully to those you are negotiating with to understand their viewpoint, and probe to make sure you get to what matters to them personally, not just what they are ‘officially’ saying. They may feel that by accepting your deal they are giving up control or resources. When I’ve been able to pre-empt these kinds of concerns, I’ve been able to offer a solution that gives them something in return.

Look for a solution that meets your and their needs whenever possible  – don’t be afraid to concede to gain something. The person across the table might feel uncomfortable with an aspect of the deal. Make sure they get recognition if they go ahead with something – it is important courage is recognised and it can be courageous to concede.

Recognise a negotiation is not always concluded in one conversation – it may be multiple conversations, but this gives you the opportunity to build a relationship and trust with the individual.

 

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