The word “no” is one of the most dreaded words for any salesperson. After all, when you are trying to close that last deal of the month, the word “no” can feel like a gut punch. What’s more, some salespeople immediately see objections as a call to battle, and their defensive behavior can be the demise of the deal. The truth is, handling objections during a negotiation is never easy, but understanding how to handle objections can help you change the dynamics of the entire negotiation. Here are some tips for managing your stress and overcoming objections to close the deal. 

Listen Fully to the Objection

Your first reaction when you hear an objection is usually to respond immediately by defending your proposition. However, it is best to resist this temptation. Quick reactions typically involve emotions and you risk making untrue assumptions. Instead, take the time to listen to the objection fully. Try to ignore any negative emotions you might be feeling and stay focused only on what the other person is saying. Listen with the intention of understanding their concerns and finding a solution. Be sure that your body language communicates that you are listening with concern and not with disdain. 

Understand the Other Party’s Real Concerns

Oftentimes, the other party’s objections aren’t the real issue. They may be used to hide an underlying concern. You can’t overcome an objection without fully understanding the reasoning behind it, so it’s important to uncover what the real concern is. To better understand their objections, take a minute to look at your offer from their perspective. Then, ask questions about their feelings, concerns, and hesitation. Let them know you are genuinely interested in their views, as this will help them see you as an ally. 

Validate Their Concerns

Our immediate response to an objection might be to reiterate why our offer makes sense, but we have to remember that not everyone sees things the same way. Instead, acknowledge the other person’s concerns and let them know you understand their perspective. Then, provide them with information that helps them view your product or service differently.  Offer a new perspective by showing them how your proposition might provide a solution to their needs. 

Address the Barrier

After you are confident that you have uncovered the reason for the objection, address it head on. Explain what you can do to resolve the issue and instill trust in the buyer. The more effectively you can resolve the issue, the greater chance you have of moving forward with the deal. In some cases, you might need more information to resolve the issue or you might need to investigate further. Take the time to do your due diligence. If the buyer senses that you are rushing or ad libbing, it will create distrust. Therefore, do what it takes to address the issue and satisfy their concern. 

One of the simplest, yet most powerful rules of negotiation is this: Always ask for more than you expect to get. Think about how this can be applied to a number of different scenarios. You should ask your hiring manager for more money when you interview for the job. You should ask your boss for the executive suite even though you would be fine with a private office. You should ask the car salesman for a lower price, even though you are happy with the sale price. You should ask the store for a bigger discount, even if you don’t think there’s a chance you will get it. You may be wondering why you should ask for more, even if it’s unlikely that you will get it. This is a critical negotiation tactic that helps to create a more effective bargaining environment. Here are just a few reasons why you should ask for more than you expect to get.

You Just Might Get It

The main reason you should always ask for more is that you might actually get it! After all, you don’t know if you don’t try. This may sound obvious to those who are positive thinkers, but a large number of people feel defeated before they ever open their mouth. Many people shy away from asking for more for fear of rejection. That might end up leaving money on the table so they are spared the potential rejection and ridicule. The fact is, you should never assume you know what the other party will say or do. Likewise, even if your offer does get rejected, you haven’t actually lost anything at this point. Conversely, if you don’t ask, you may be left to wonder if you could have actually gotten more. 

It Leaves Room to Negotiate

If you are selling something, you can always come down but you can’t go up on the price. If you’re buying, you can always go up on price but you can’t come down. Therefore, always ask for more than expect on the front end. This gives you some negotiating room and makes it easier to get what you actually want. It always gives the other party the perception that you are willing to be flexible and flexibility typically leads to better outcomes. 

It Changes the Perceived Value of the Offering

Believe it or not, asking for more than you expect can actually change the other person’s perceived value. In negotiation, perception is everything so if you can change the other person’s perception, you can control the negotiation. For example, if you are selling a house and you ask for a much higher price than what you actually expect to get, the buyer immediately thinks the house must be worth more than they thought since it’s more expensive. You have changed their perceived value of the home. Although they might still negotiate the price down, it’s unlikely that they will offer way lower than the asking price so you will likely end up getting what you hoped for or a little more. 

Makes the Other Side Feel Like They Won

Let’s use the same example of the house. If your asking price is higher, your buyer might negotiate and you end up settling on a number that aligns with your expectations. At the same time, your buyer feels like they got a deal so it’s a win-win for everyone involved.

Negotiating a pay increase is one of the most important skills for your career, but it can also be one of the most intimidating. It requires the right combination of confidence, professionalism, and savvy negotiation skills. That said, it can be the best way to obtain your desired compensation. It is also perfectly acceptable to ask for a raise, and most reputable companies want to take care of their employees. If you are ready to take this important step, here are a few tips on how to successfully negotiate a pay raise. 

Research Salary Data for Your Position

Rather than simply choosing a random number that sounds appealing to you, you must research what a normal salary range looks like for your position and your level of experience. You can do this by speaking to other people in similar positions at your company. You can also do some research online to figure out what the average salary range is for your job and location. Another option is to connect with local hiring experts in your area. Show them your resume and ask them to provide you with a realistic salary goal. It is important that the raise you are asking for is in line with you specific line of work. 

Keep a Record of Your Accomplishments

It is important to make a list of your accomplishments, achievements, accolades, or awards from within the last year. Be prepared to discuss these accomplishments in detail and share how they positively impacted your company. For example, you may have generated 5,000 leads in the past year which equates to more than $80,000 for your company. Perhaps you just successfully completed an important project for which you were recognized. The stronger the data you provide, the stronger your case will be for a well-deserved raise. 

Let Your Boss See the Value You Bring

In addition to the accomplishments, you listed above, you also want your boss to know that you are a valuable long-term asset to the company. Share your career goals and plans for the future and how this will benefit the company. You want them to see you as a person who is worth the investment. 

Ask for the Top of the Range

As you do your research on average salaries for your position, you are likely to come across a range that represents your market value. While asking for the middle number may feel like a safer bet, you should opt for the top of the range. For starters, you should feel confident that you are worth the higher salary, but you should also expect your employer to negotiate down so this gives you a little extra wiggle room. 

Choose the Right Timing

Timing is important when it comes to asking for a pay increase. You certainly don’t want to schedule this meeting around the same time as budget cuts or when your company just suffered a poor quarter-end performance. Rather, make sure the timing is right within the company as well as in your personal career. Don’t wait until your performance review, when there is a good chance raises have already been decided. Instead, talk to your boss well in advance when they are actually deciding on the budget. 

When sitting down at the negotiating table, simply driving a hard bargain on a higher price in order to secure a better outcome for yourself will more likely lead to deadlock than a deal. The fact is, most people aren’t willing to agree to a deal unless they get something of value in return, and sometimes taking one for the team just isn’t worth it. So, how exactly do you plan to get what you want without reciprocating the favor? Creative negotiation is a strategy by which you look for hidden opportunities to meet the needs of your counterpart without compromising your own agenda. 

Focus on Interests, Not Positions

If you allow for both parties to explain their positions on a topic, you could end up slowing things down and people become more focused on sticking to their “position” than reaching an agreement. During the negotiation, shift the focus to the interests of both parties. Make it known that you are aware of the other party’s interests and offer a deal that serves both parties’ interests well. 

Provide Terms Rather than a Price Range

When you focus a negotiation solely on price, the buyer will almost always get the upper hand. That’s because buyers want to get the best deal possible and that usually equates to a price lower than you want to go. However, there is a way to get the price you want while also keeping the other party happy. Be willing to provide a set of terms that will benefit the other party without costing you anything at all. For example, be willing to offer a more flexible payment option, an upgraded service, or an easier contract in exchange for the right price. 

Create a Variety of Outcomes

When you approach a negotiation with only one solution in mind it can narrow the field and lead to a tense negotiating environment where no one wants to give. Instead, brainstorm multiple possible solutions that will ultimately give you the same results. This leads to more open-minded discussions and can make everyone feel like they are coming out a winner. 

Speak with Confidence

There is no doubt that you need to be extremely knowledgeable about your topic prior to negotiating but you also need to be able to sell it. That involves speaking with confidence. When you confidently suggest a proposal and back up your claims with evidence, the other party is more likely to accept your proposed terms without asking for anything in return.

Experienced negotiators know the value of building personal relationships as part of the negotiation process. The nature of the two party’s relationship can have a major impact on the outcome of the negotiation. Research has shown that stronger relationships lead to greater empathy and cooperation in negotiations as well as increased attention to the other’s needs and better decision-making. When relationship preservation is the goal, you will even find that parties are willing to make concessions to enhance the relationship. The connection between both parties is so important and wise leaders understand the benefits of fostering a strong relationship when negotiating. 

Reciprocal Trust

A working relationship is built on mutual respect, understanding, friendship, and above all else, trust. Trust is vital to successful negotiations because people are more likely to accept a proposal from someone they trust. This reciprocal nature of trust happens when you take the time to build a rapport with the other party. This often happens before the negotiation even takes place. Perhaps it means sharing a few friendly phone conversations, having a work lunch, or conducting an in-person meeting beforehand. When trust exists between the two parties, the negotiation is likely to go much smoother and more efficiently. 

Reach Better Deals

When you have a relationship with the other party, you are more likely to be genuinely interested in each other’s needs and concerns. This mutual understanding of the other party leads to better outcomes. That’s because you are more likely to be able to work together more effectively and seek to understand the position of the other side. You are more likely to interact positively and engage in beneficial conversations. 

Handling Conflict

Conflict can arise in negotiations when both parties don’t agree on certain terms. In some cases, this can lead to tension that causes the negotiation to end in a deadlock. However, when there is already a strong relationship between the two parties, they are more likely to keep their emotions in check in order to reach a resolution. 

Long-Term Success

Negotiations aren’t just about getting the deal you want at that very moment. In many cases, you will be negotiating with the other party continuously in the future. Therefore, it is in your best interest to build a positive relationship so you can ensure effective negotiations for the length of your business relationship. The success of any business depends on long-term relationships and this is certainly true at the negotiation table. 

Skillful and effective negotiation involves a combination of communication skills and an understanding of both your goals and those of your counterpart. In addition, your ability to persuade convincingly can also help your counterpart understand and accept your position. Persuasion is a powerful strategic tactic that can help you achieve your desired outcome in a negotiation. Through the power of persuasion, you can convince your opponent to accept your views and possibly change their course of action. Learning the skill of persuasion can also help you handle and resolve disputes. Here are a few ways you can apply persuasion skills to positively influence the outcome of your next negotiation. 

The Reciprocity Effect

In general, people like to repay what they have received from others. For instance, if someone gives you a Christmas gift, you may want to reciprocate because now you feel obligated to do so. Similarly, you receive the “small gift” of address labels from a charitable organization and now you feel obliged to donate in return. This can be applied to negotiation as a great way to persuade the other party. You give them something they perceive as valuable and you get something you want in return. 

The Consistency Principle

People feel the need to remain consistent in their beliefs, actions, and opinions. In many cases, once a position is taken, people tend to stick with it just because they feel committed to it. That is why salespeople often use this tactic when negotiating. They get the other person to agree with them multiple times because after saying “ye” over and over, it becomes very difficult to say “no” when it’s time to close the deal. 

Establish Likability

People tend to buy from people that they like. They may even agree to something they don’t really want simply because they like the other person and want to please them. Successful negotiators understand this tactic and work to establish a rapport with the other party. They may engage in small talk and find similarities, common interests, or shared backgrounds. Once this relationship has been established, it becomes difficult for the other person to say “no” simply because they don’t want to disappoint you. 

Law of Scarcity

We have all seen ads on TV claiming that you need to “act now while supplies last!” The Law of Scarcity suggests that if there is a limited supply of something then it must be good or popular. When people think there is a limited supply of an item or that an offer will soon expire, they feel compelled to act quickly so they don’t miss out. 

Social Influence

This tactic works when you draw on testimonials from satisfied customers or clients. When a prospective customer hears how much current customers love your product or service, they are more convinced to follow suit. People like to feel like they are part of a community and if “everyone” else loves your product, they will probably love it too. 

We live in a world with so much noise that people often feel uncomfortable with silence. This even happens in business meetings, where people are constantly talking over each other and interjecting the minute someone else pauses. As soon as there is a moment of silence, someone usually tries to speak up to fill in the gap. However, silence can be an extremely powerful and effective tool at the negotiating table. The occasional silence allows you to better absorb the information you are hearing, it can force the other person to speak, and it can also add impact and clarity to your speech. Here are a few ways silence can help you during your next negotiation. 

Benefits of Silence in Negotiations

You can better listen and understand what you are hearing.

One of the hardest things for many negotiators to do is to listen. That’s because they are often so focused on their own agenda that it becomes difficult to absorb what the other person is saying. While their counterpart is talking, they tend to be mentally preparing their response rather than actively listening. Allowing a few moments of silence before responding will help you turn off your internal voice so you can listen more effectively. 

Silence Builds Trust

This may sound counterintuitive, but imagine you are looking to purchase a new car. Which salesperson would you be more likely to trust: the one who speaks continuously without allowing you to speak or the one who speaks less, allowing you to ask questions or share your thoughts? Presumably, the second salesperson that incorporated silence from time to time, would seem more trustworthy. Even if it’s not your intention, the person who speaks incessantly will appear pushy and immediately creates a sense of distrust. 

Silence Builds Respect

Just like it builds trust, silence also helps build respect. By demonstrating that you are willing to remain silent and listen, you demonstrate to your counterpart that you respect their ideas and opinions. When you treat someone with respect, you are likely to get that same respect in return. 

Silence Makes the Other Person Talk

Great negotiators know that gathering information is critical in a negotiation. You need to find out what the other person wants and needs and what is motivating them. When you practice silence, you force the other person to speak first. This can be an effective way to gather important information about the other party. 

Silence Creates Impact

Think about a great speaker you may have heard. Chances are, at some point during their speech they said something that was truly powerful. There’s also a good chance they paused briefly after the statement. That’s because that brief pause was just enough to create impact and make the audience really think about what was just said. The same is true during negotiations. Negotiators use silence to draw attention to their most important points.

Negotiation is more of an art form than a natural ability. It requires a great deal of practice over a period of time, which is why negotiating can be difficult for a rookie. You can easily make a mistake without even realizing it. You may accidentally reveal your bottom line, offend the other party, concede more than you should, or even get your numbers mixed up. The point is, that you are bound to mistakes when you first begin negotiating. Fortunately, through awareness, practice, and preparation, you can learn to avoid common mistakes in order to reach better deals. Here are a few of the most common mistakes rookie negotiators make and how you can avoid them to set yourself up for a better outcome. 

Not Doing Your Homework

One of the most common mistakes rookie negotiators make is rushing into a negotiation without fully preparing for it. You may think you are prepared because you know what you want to get out of the deal, but that is far from adequate preparation. Successful negotiators know that you must analyze more than just your own side. You also need to do your homework and find out as much as you can about the other party. What are their expectations and goals? What is motivating them? What pain points do they have? The more you know about your counterpart, the better you will be able to prepare a good strategy. Be sure you understand both your position and theirs, have a strategy in place and have a backup plan in case things don’t go your way. 

Focusing on “Winning” Rather Than “Collaborating”

Many novice negotiators look at negotiation as having a winner and a loser. In an effort to avoid “losing” the negotiation they may even make unreasonable demands, threats, or other coercive tactics in order to get their way. Unfortunately, this is not an ideal approach to negotiations and it is far better to collaborate with your counterpart and seek a mutually beneficial solution. Smart negotiators know that reaching a win-win outcome rather than a win-lose outcome will lead to better working relationships in the long run. 

Letting Your Emotions Get the Best of You

It’s easy to get frustrated when a discussion doesn’t go the way you had planned. You may even find yourself getting defensive and angry at times. However, you must never let your emotions get in the way of a successful negotiation. In fact, anger and frustration can lead to stalled discussions and it can ultimately kill deals so learn to keep your emotions in check, take breaks if needed, and remain calm and collected. 

Not Listening

Rookie negotiators are often so focused on presenting their own ideas and trying to close the deal that they forget to listen. However, not listening not only sours your relationship with the other party, but it prevents you from gaining important information about the other party that could help you negotiate the best deal. In addition to sharing your own thoughts and pitching your side, remember to ask questions, listen to the responses, and find out what matters most to your counterpart. 

Lacking Confidence

Negotiating your first deal is not easy, but it is still important to learn to project confidence. You can do this by learning as much as you can about the subject, researching the other person’s side, and preparing adequately for the negotiation. If you walk in nervously, the other person will be able to read you like a book and they might take full advantage of your nerves to back you into a deal. 

Giving In Under Pressure

At some point, we have all seen deals on TV or in stores that use pressure tactics like “while supplies last” or “offer expires this Friday.” This is a powerful technique designed to pressure you into making a decision on the spot. The same happens in negotiations. You need to learn to recognize these tactics so you can resist their influence and avoid caving under pressure.

Whether you are asking for a raise, a promotion, or that new corner office, having to ask your boss for anything can be daunting. That said, no one should ever remain quietly dissatisfied when it comes to asking for something that means a lot to you at work. The conversation doesn’t have to be frightening if you are keeping both you and your bosses’ best interests in mind. Here are a few tips that can help you feel more comfortable and increase your chances of getting what you want the next time you have to negotiate with your boss. 

Write Down Your Goals

Before approaching your boss, think about exactly what your goals are and what you hope to achieve from the negotiation. Possible goals might be getting a raise, getting a promotion, obtaining additional vacation days, getting more flexible hours, or even getting new equipment for your office. Just be sure you have a clear understanding of exactly what you want as well as a few reasons why you feel you deserve this outcome. 

Have a Shared Interest

Successful negotiations happen when there is a shared intention and shared trust between both parties. Consider not only what is most important to you but also what your boss values. Be prepared to communicate how you plan to meet your boss’s needs through your skills, experience, and work ethic. 

Make a Record of Your Accomplishments

If you plan to negotiate for a raise or promotion, you need to be prepared to explain why you believe you deserve it. Keep a track record of your accomplishments including projects or tasks that you successfully completed, achievements, awards, or accolades you may have received. By reflecting on your accomplishments, you will be able to showcase your skills and competencies. You want your boss to know what you have done to make the company more successful and you want them to see how valuable you are to the company.

Ask for More Than You Expect to Get

Negotiations are all about give and take in order to reach a compromise. Therefore, aim a little higher than your goals so your boss will be more likely to reach your desired conclusion. If you want three extra vacation days for example, ask for a week. Don’t go overboard with your request, but always anticipate a little bit of wiggle room. 

Use Facts Over Emotions

You need to be able to back up your requests with concrete data and examples. You cannot simply say “I feel like I have earned a raise.” Rather you need to be prepared to show that your last three quarters have exceeded company expectations and that’s why you are deserving of a raise. 

Listen to Your Boss

Just as you want your boss to listen to you, you must also extend that same courtesy to your boss. Listen to their perspective with an open mind and try putting yourself in their shoes to better understand their opinion. Active listening helps build mutual trust and respect. 

Keep a Flexible Outlook

You and your boss may not be able to reach an agreement that leaves you fully satisfied, but try to be cooperative and learn to compromise. Your boss may have constraints that make accepting your proposal impossible at the time, so prepare yourself to reach back out to them again in the future. 

Promotions are an important part of moving up the ranks and gaining new responsibilities within an organization. Job promotions are usually accompanied by increased salaries, which can also be important to employees. Sometimes promotions happen on their own, and other times you may have to advocate for yourself. However, asking for a promotion can be anxiety-inducing. That said, sometimes it is best to muster up the courage and take the initiative to ask for one, rather than waiting for it to happen on its own. If you are looking to take the next step in your career, consider these tips for asking for a promotion. 

1. Reflect on What You Really Want

Are you looking to gain more responsibilities? Are you wanting a higher salary? Are you hoping to move closer to the managerial position you ultimately want? You need to have a clear vision of what this new position looks like before discussing it with your manager. It is important to consider your personal career goals so you can be sure this new role aligns with your long-term goals. Sometimes managers offer promotions but it might not be a role that interests you. Don’t be afraid to speak up and ask for what you really want. You may be surprised to find that this could actually be less daunting for your manager. Instead of them having to figure out where to promote you, you already know where you want to be. 

2. Outline Your Record of Achievements

Promotions are offered to employees who demonstrate exceptional performance. Therefore, you will want to be prepared to show a record of all of your achievements in your current role. This will help you build a case for your promotion and will help you organize your talking points when it comes time to discuss your career growth. Include ways that you have positively impacted your organization, projects that you successfully completed, contributions you have made to your department, and any awards or recognition that you have received. 

3. Research the New Job

If you are looking to fill a position that already exists, take the time to research the position and learn more about it. Talk to the person who currently holds the position and ask them about the job responsibilities. Then, think about your strengths and achievements and why you would be an ideal candidate for the position. When you sit down with your manager, demonstrate your knowledge of this new position and be prepared to explain what qualifies you for the position. 

4. Choose the Right Time

There may not be a perfect time to ask for a promotion, but some times are better than others. For example, if you have just completed a very successful quarter or you just received a glowing performance review, that might be a good time to request a promotion. On the other hand, you don’t want to ask for a promotion if the company is making budget cuts or laying off employees.

5. Be Prepared to Negotiate

It’s always best to prepare some negotiating points prior to asking for a promotion. Perhaps you have been offered another job. You could certainly use this as a bargaining chip to help you land that promotion. If you don’t have another job to fall back on, you can be prepared to negotiate things like salary, stock options, or other perks. If things don’t work out right then, remain open to revisiting the possibility of a promotion in three to six months.