What Successful Negotiators Do
Every sale is a negotiation. It might be centered around price but it could also be around delivery times, quantities, guarantees, return policy, quality assurance, legal liability, etc. We can’t control the issues which arise during a negotiation or the attitude of the buyer, but we can control our own skill level and approach. The more we understand and manage our own behavior, the greater the influence we will have with others. To be successful we need to behave in a way which influences the interaction by moving it along a collaborative continuum. What are some recognizable qualities in successful negotiators? Here are a few thoughts on the subject.
Good reputation with good intentions
People may forget the finer points of the negotiation but they will remember how we treat them. Burning people, being too sharp, too cunning creates a negative reputation for fair dealing. The aim is to win in business and one deal is only one deal. Winning the battle and losing the war is for short-term transactional types. We aim to be around a long time, so our approach will reflect that intention. We are focused on the re-order not just one sale.
Respectful, trusting and trustworthy
Getting to a mutually satisfactory and beneficial outcome is the goal. Along the way, we treat the counter party with respect and they feel it. This adds to our own commercial history as someone you can trust in business and that is worth a lot more than the contents of one transaction. Today bad news, warnings, discontent and whining travels at the speed of social media posts which by the way are instant and real time.
Confident and positive
Having the right intentions gives us strength to find a solution that will be well regarded. We are constantly looking for a way through the difficulties, seeking to find a solution to the other party’s issues. If we can solve their problem we will solve our own problem. This means looking outside your own interests.
Well prepared
Knowing the facts, the background, the individuals, the market situation are all elements we can and should prepare prior to having any discussions with the counterparty. Being able to quickly source key information, as negotiations get underway, is a tremendous booster to finding a successful outcome. Most of our errors of judgment have come as a result of poor or incorrect information or false assumptions.
Composed
Calm and considered is a good philosophical position to adopt in negotiations. Emotional control is a prerequisite for success. Never get emotional not matter how much is thrown at you. It may be a tactic on the other side’s part to get you riled, but don’t fall for it.
Effective communicator
This idea often suggests being a good talker, when in actual fact being a good listener is often more important. Asking excellent questions and listening for what is not being said is an approach that will yield rewards. Tact and diplomacy are skills that go a long way to improve understanding and create agreement. Being clear about what you are proposing is a skill and this is required in both documentation and orally in the meetings.
People skills
Helping people to relax, finding common ground, getting on their wave length are all people skills. Being able to remove barriers and reduce inflammation points, through how we treat others, makes the negotiation discussion proceed in a smooth fashion. We like to do business with people who are like us and that is where the person with people skills really shines. They are able to operate on a level that the counterparty likes and respects. We may do this deal or we may not, but probably we will be dealing with this person or this company’s representatives again in the future.
Open-minded
Flexibility is a source of strength in a fluid, shifting activity like negotiating. Rigidity can lock us in to a position which precludes a mutually beneficial agreement, usually because we have let our own ego get in the way. There are many paths to the mountain top and we have to be open to the fact that we don’t know them all.
Creative
We are sometimes captives to our limited knowledge and experiences and so the world of possibilities seems small. Finding a tangential solution through a creative approach can produce surprising breakthroughs, when everything seems to be heading toward a train wreck in the negotiations. Thinking about a problem from various angles helps us to see options that may have been hidden or unclear.
A risk taker
In finding agreement there is always an element of risk. Caution, timidity, fear drive us into corners from which it is sometimes difficult to emerge. Having a capacity to take a risk because you have thought through how to minimise that risk once taken, is a big advantage when it comes to finding creative solutions to end an impasse.
Business is usually not a one time thing, so how we treat others and especially the way we do business marks us out in the community. Bad news always traveled fast and far, but today with business social media being so prevalent, we are talking another level of transparency and speed. Successful negotiators know this and never let their reputation become sullied for a small, tricky gain. They play the long game and seek to permanently increase their influence.
Today’s Main Points About Success Characteristics
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About The Author
Dr. Greg Story: President, Dale Carnegie Training Japan
In the course of his career Dr. Greg Story has moved from the academic world, to consulting, investments, trade representation, international diplomacy, retail banking and people development. Growing up in Brisbane, Australia he never imagined he would have a Ph.D. in Japanese decision-making and become a 30 year veteran of Japan.
A committed lifelong learner, through his published articles in the American, British and European Chamber journals, his videos and podcast “THE Leadership Japan Series”, he is a thought leader in the four critical areas for business people: leadership, communication, sales and presentations. Dr. Story is a popular keynote speaker, executive coach and trainer.
Since 1971, he has been a disciple of traditional Shitoryu Karate and is currently a 6th Dan. Bunbu Ryodo (文武両道-both pen & sword) is his mantra and he applies martial art philosophies and strategies to business.