There’s no doubt that communication is a fundamental component of any successful business. It is essential to have communication that is honest, open, and clear, and that starts from the top. The CEO is the leader of the business, so it is obviously important for them to be an excellent communicator. This means more than just being polite and politically correct. It also means delivering content that is meaningful to the rest of the organization. The CEO should be able to communicate the basic elements of their business strategy as well as steps for achieving it. They are also expected to brief employees on current happenings within the company as well as leading sales calls, running meetings, delivering powerful presentations, and providing support for critical situations. With so much at stake, the CEO must learn to develop effective communication skills in order to meet the demands of their job. Here are a few strategies for encouraging best practices for CEO communication. 

1. Develop an Internal Communication Plan

With so many employees now working remotely, companies need to come up with a new plan for communicating with employees who are all separated from each other. Communication is not only vital for keeping employees in the loop, but it also supports a sense of belonging and community. Generic memos from the CEO just don’t cut it these days. There needs to be new methods of communication from video conferencing and zoom meetings to regular emails and newsletters to keep employees engaged, informed, and up-to-date with company happenings. 

2. Find Ways to Interact with Employees

It’s not enough for CEO’s to simply spit out information. Communication is a two-way street so they also need to look for ways to interact with employees. For example, CEO’s should involve employees in identifying and solving challenges, by asking questions and seeking feedback. One way to do this is by conducting a company wide survey. CEO’s could also host a listening tour, in which they ask employees from various departments the same questions and record their feedback. This helps employees feel engaged in the company and fosters an environment where communication is two-fold. 

3. Be Inspiring

A CEO’s job is to share their vision and goals for the company with their employees. However, an old school presentation that lays out the company vision and mission might not be enough. In order to really drive home the message, CEO’s need to inspire employees to work toward these goals. Whether it’s sharing an inspirational story, starting a change initiative, or creating a friendly competition to get employees fired up, a great communicator is one who inspires change and motivates others to do the same. 

4. Be Authentic

Think about that company wide email that sounded like it was derived directly from a script. Chances are you read through it and immediately deleted it from your inbox. Now, imagine an email comes through directly from your CEO that sounds more like a personal, heartfelt email that he penned right there on the spot from his/her office. Chances are this unscripted email will have more of an impact because it feels genuine and authentic. CEO’s need to remember the power of authenticity and go unscripted every now and then. This is a great way to build trust with employees. 

5. Reintroduce Yourself to Customers

CEO’s can never assume that they still have the same target audience. They always need to be looking for ways to reconnect with customers in order to build trust and loyalty. Customers are more likely to choose a company they have established an authentic relationship with, and it’s up to the CEO to reiterate who they are and why they value their customers and community. 

6. Make Yourself More Approachable

All too often the CEO feels like some far-away king sitting on their throne somewhere. Employees feel like they know nothing about them and perhaps that they are just a number to that person. That’s why it is so important for CEO’s to learn to be open, honest, and transparent with their employees. Share personal stories, challenges, or goals. Host “Ask Me Anything” sessions so employees can get to know more about you. This helps employees see you as a person, and it demonstrates a level of trust, respect, and empathy from the CEO. 

7. Recognize Milestones and Achievements

Communication from CEO’s shouldn’t always be about quarterly results, company vision, and current challenges. Sometimes, it simply needs to be about recognition. Knowing that the CEO might recognize you for your accomplishments can be hugely motivating. It encourages people to strive for special achievements. Share great happenings within your organization including company milestones, personal achievements, and gracious “thank you’s” for a job well done. This can be incredibly meaningful coming from the one on top.

The ability to negotiate well is an extremely advantageous skill to have, both in your personal and professional life.  While many people try numerous tips, tricks, and strategies to improve their negotiation skills, they may be missing one of the most crucial components: body language. In a negotiation, as with any other form of conversation, your body language can have a significant impact on the situation. You can convey attitudes, feelings, and emotions through your non-verbal communication. You can back up your words with physical actions that exude confidence, honesty, and authenticity. This helps to foster a sense of trust between you and the other party, persuading them to react cooperatively. In fact, studies have shown that body language and nonverbal communication actually has a greater impact in a discussion than the words you speak. Therefore, gain the edge in your next negotiation with these helpful body language tips and tricks. 

Perfect Your Handshake

There’s no denying the power of the old-fashioned handshake. The most important thing about your handshake is that you have one at all. A pleasant handshake, no matter how firm or floppy, will promote honesty and integrity and it immediately makes people feel welcome and comfortable. It also helps to promote cooperation, which can increase the chances of successful deal making. 

Maintain Eye Contact

Eye contact is not easy for everyone. In fact, it makes some people uncomfortable. However, good eye contact is important in negotiations and is one of the single most powerful communication tools. Looking your counterpart in the eye conveys confidence, but it also demonstrates trust and sincerity. Avoiding eye contact, on the other hand, can give the impression that you are being evasive or dishonest. Remember to maintain friendly eye contact, so as not to come on too strong. 

Smile Genuinely

A genuine smile can make for a great first impression and it increases the perceived level of trust between you and the other party. A genuine smile is also viewed as a polite gesture and immediately makes you appear more likable. You have a much greater chance of reaching an amicable and successful conclusion if you share a genuine smile with your counterpart. 

Maintain Good Posture

Having good posture does more than prevent backaches. It can also play an important role in your ability to negotiate effectively. Your posture sends subtle clues to show that you are interested in the conversation. It also displays openness and confidence. You want to maintain an open posture and avoid crossing your arms or leaning away from the other person. Rather, sit up straight, lean toward the person who is speaking, and look directly at the person to demonstrate your interest. 

Be Aware of Facial Expressions

Keep in mind that your facial expressions can have an impact on the outcome of your negotiations. You have probably been in a conversation where you experienced the frustration of trying to decipher the unwelcome expression on the other person’s face. You don’t want to send the wrong message by furrowing your brows, wrinkling your forehead, or frowning. Instead, you want to smile, not in agreement, and keep your chin up to promote a feeling of positivity.

Negotiation is not an easy process, especially for people who struggle with conflict. Since negotiations are all about conflict resolution, it is important to enter into the discussion with the right frame of mind so you can reach an amicable agreement. Many people enter negotiations with preconceived notions, which can contribute to mistakes, misunderstandings, and unsuccessful negotiations. If you walk into a negotiation expecting to be offered a bad deal, for example, it will automatically impact the way you approach the conversation. These psychological barriers are often subconscious biases that prevent us from being able to negotiate effectively. Here we will take a look at some of the most common psychological barriers and how you can overcome them.

The Endowment Effect

The first barrier that is commonly associated with negotiation is the endowment effect. This is the idea that whatever you have is worth more because it’s yours. When something is in our possession, we tend to place a higher value on it than what it’s actually worth simply because we own it. It is a subjective opinion, not based on objective reality or consideration of how someone else might value it. Think of when you are having a yard sale for example. You may tend to price items too high because you see them as more valuable than someone else might. You might even be offended when someone offers you a much lower price. The best way to overcome this is by looking at the negotiation objectively. Consider how someone else might perceive the value of what you are offering. You may even want to consult with a neutral third party to get a fair idea of the true value. 

Comparative Gains and Equity

How many times have you heard your child yell, “That’s not fair!” You may have even responded with something like, “Life’s not fair.” The fact is, it’s human nature to want everything to be “fair,” but what does “fair” actually look like? Oftentimes in negotiations, proposals are rejected out of a sense of “fairness.” Parties may even perceive the concessions they are receiving to be less valuable than the ones they are giving, which gives the impression that the deal is “unfair.” Instead of looking at everything as equal, consider how the deal benefits you. You may have to give up something of higher value, but if it leads to the results you want, then it is obviously worth it. Approach negotiations with a new mindset, that “fair” does not always mean “equal.” a good deal doesn’t have to be “fair” to be successful. 

Loss Aversion

It’s common for negotiators to attach greater weight to prospective losses than prospective gains. This can make them reluctant to trade concessions. Think back to the yard sale scenario. You may be reluctant to sell that lamp for a lower price because you remember what you paid for it. However, by not selling the lamp, you gain nothing and you will probably end up donating it for free.  On the other hand, if you sell it for a lower price, you not only made some money on the deal but you also got the lamp off your hands. Stop focusing so heavily on the “loss” and consider what you will actually be gaining. By shifting your perspective, you begin to see the mutual benefits of the deal.

Negotiation can be a tricky process. You may assume that if you are armed with all the right information, money, and bargaining power, you could certainly land a favorable deal. The reality, however, is that we often lose deals not because of power or money, but because we are negotiating against ourselves. Human beings have a tendency to try and rationalize all of our decisions and actions. We doubt ourselves when we need to be confident. We avoid making a decision because we worry it’s the wrong one. Doubts and indecisiveness can wreak havoc on our ability to negotiate, not to mention that it can be mentally exhausting. To create a more balanced discussion and manage your negotiations successfully, consider implementing the following strategies. 

Take an Assertive Approach

See yourself as a leader and approach a negotiation with that mindset. If you don’t see yourself as a leader, you will always feel insecure about your decisions. Do adequate research and arm yourself with information beforehand, and then approach the negotiation with confidence, knowing you are well prepared. Remind yourself that you are capable of making important decisions and keep that assertive attitude throughout the negotiation. 

Make a List of Concessions

You can eliminate a lot of that second guessing by preparing your concessions ahead of time. Make a list of concessions and list them in order of importance. This will help you develop a strategy when it comes time to concede. You can spend as much time as you need putting thought into this ahead of time. That way, you won’t feel pressured on the spot and whatever you do concede, you will know it was well thought out and planned. 

Commit to Your Decisions

When you make a decision, stick with it. Don’t flounder around and begin second-guessing your decisions. You will only confuse yourself and add stress to the situation. Once you have agreed to something, move forward, knowing you made an educated decision. 

Do Your Homework

Finally, you want to do as much homework ahead of time as possible. Get to know as much as you can about the other party, what is most important to them, and what pain points they may have. Also, consider your own bargaining power, what your needs are, and how you can mutually reach those goals. The more planning and research you do in advance, the more confident you will feel when it comes time to negotiate and this will help you avoid second-guessing yourself and wrestling with yourself internally. 

The ability to negotiate is more complex than most people might think. It takes a lot more than hard bargaining, wheeling, and dealing to reach a successful solution. An effective negotiator must be organized and prepared, and they must understand and practice the three pillars of negotiation: attitude, process, and behavior. This model was built from diverse client experiences from businesses all over the world. These important negotiating practices are the foundation for building confident, strong and trusting relationships. Let’s take a closer look at each of these pillars and how they contribute to negotiating success. 

Attitude

Research has shown that approaching negotiations with a positive attitude can actually have a positive impact on the overall outcome. People who come to the table with a positive attitude tend to perform better than those who don’t. Confidence is everything when it comes to negotiating. If you approach the discussion lacking self-belief, the other party will capitalize on your insecurities. It is important to know what you want, believe you can achieve it, and aim for excellence. Your mental attitude is one of the most defining characteristics of a successful negotiation, so choose to think positive!

Process

Next, you need to be familiar with the process of the negotiation. The process begins with adequate preparation and understanding the needs of both parties. Not only is it important to set your own goals and objectives, but you also need to gather information about the needs and motivations of the other parties. You also need to understand the purpose of the negotiation. Are you bargaining, bidding, or moving toward a close? Once you understand the basic purpose, it’s time to begin preparing your strategy. This involves designing a deal, preparing your concessions, considering the other party’s approach, and developing a BATNA (or best alternative.) Preparing is essential, but you also need to be flexible. 

Behavior

Now that you have prepared a negotiation plan, you need to decide on a behavioral strategy. Different approaches work differently for different people. For example, if you are working with someone who makes decisions based on reason, you need to come armed with facts and figures. On the other hand, someone who is influenced by emotion might be more easily swayed by intangible items. Consider the other party’s behaviors, so you can find a behavior style to maximize your influence. In addition to the words you use, remember that your body language will also impact the other party. Consider things like eye contact, posture, facial expressions, and voice tone and how these behaviors might be perceived by the other party.

Throughout your career, there will undoubtedly come a time when you need to negotiate a contract. Whether you are discussing the terms of a new job or trying to sign on a new client, it’s important to understand the principles of contract negotiation so you can leverage your position. Here we will take a look at some helpful tips for contract negotiations so you can achieve the best possible outcome. 

Start with the Main Points

Before picking apart the minute details of a contract, start with the main points. Make sure both you and the other party agree to the main points of the contract before moving on to smaller details. Go through each main point and if there is a discrepancy with one of the points, start discussing those terms. 

Break the Contract into Pieces

Getting someone to agree to an entire contract isn’t usually realistic. Instead, break the contract into smaller pieces that can each be agreed upon separately. Not only is this less overwhelming than looking at an entire contract, but each piece can serve as one part of the whole, which in turn solves the “all or nothing” approach. 

Take Notes

Negotiating the terms of a contract can be a tedious process, so it can be hard to remember all of your talking points. That’s why it is important to take notes throughout the discussion, so you can keep track of which areas you need to come back and address. Notes can also be helpful if you think of something after the meeting that you wish to go back and discuss. 

Know Your Priorities

You are not guaranteed to get everything you want in a negotiation, which is why you need to prioritize what is most important to you. Outline your priorities and share those with the other party. You also want to invite them to share their priorities as well. You may end up having similar goals and values. However, even if your priorities are different, ranking them in order of importance will help you reach a fair agreement.

Ask Questions and Seek to Understand the Other Party

You need to find out as much as you can about what is motivating the other party. If you know their goals and interests, you may be able to better align your negotiations in a way that supports your needs while also meeting the other party’s interests. 

Keep Emotions in Check

Business negotiations should remain professional. Don’t complicate the process with your personal feelings. One way to do this is by eliminating “I think” or “I feel” statements. Try to keep a positive attitude and don’t let your emotions get the best of you. 

When you have an important negotiation coming up, you should never plan to just “wing it.” A successful negotiator takes time to think through the process, gather important information, and consider possible alternatives. The art of negotiation is more complicated than one might think and requires a delicate balance between asking for too much or too little. This involves plenty of planning and preparation. If you want the best chances of success, consider these steps to help you prepare for your negotiation. 

Prioritize Your Goals

The goal in any negotiation is to achieve the objectives you want. You also want to try and walk away with the best deal possible, while maintaining a strong relationship with the other party. All that said, getting what you want is still top of your list. Therefore, start by making a list of your priorities and rank them in order of importance. 

Gather Information

Once you know exactly what your priorities are, you need to gather as much information as you can about the goals and interests of your counterpart. Many negotiations come to a halt because one side isn’t willing to budge and does not consider the other party’s needs. Successful negotiations are all about give and take. Find out what is motivating the other party, and adjust your negotiation plan accordingly so you can reach a fair agreement that is suitable for both sides. 

Make a List of Concessions

Concessions are an integral part of negotiations so you need to prepare for concessions beforehand. The last thing you want is to be pressured to make concessions at the table. Prepare a list of concessions you would be willing to make beforehand, and also jot down what you would like to have in return. 

Develop a BATNA

You also need to plan for the unexpected. Negotiations do not always go exactly as you want, so you need to have an alternative option prepared beforehand. A BATNA is a Best Alternative to a Negotiated Agreement and it is one of the most important tools you can have. It could save the negotiation and be what keeps things moving forward and it can also prevent you from getting a lousy deal. You always need to have an alternative plan prepared. 

Set an Agenda

Create an agenda for your negotiation so you know exactly how the discussion will go. This helps give you a guide, which can be helpful if you get nervous. It will also help you keep the discussion on track. Set the agenda early and email a copy before the meeting. If you don’t do this, the other party will and you could lose your chance to take control of the negotiation.

Have you ever left a negotiation feeling battered and bruised? Perhaps you felt like you never even got a chance to advocate for yourself. It’s not uncommon for professionals to get torn apart during a negotiation. Even those who are smart and knowledgeable in their industry can find themselves taking a beating. That’s because successful negotiations require more than brains and credentials. A successful negotiation requires preparation and practice. If you want to start your negotiation in a winning position, you have to prepare like a champion. Here are 10 ways you can better prepare for your next negotiation. 

1. Identify Your Goals

Before you begin preparations for a specific negotiation, you should know exactly what you hope to accomplish through negotiation. Do you want to maximize your short-term value? Are you working to establish long-term collaboration? Is your goal to sell a product or service to a new client? Make sure you know what you want going in, so you don’t settle for what you end up with. 

2. Do Your Research

You should never start negotiating without doing some research to learn more about the other parties involved. You need to gather as much information as you can about the other side so you can adjust your negotiation strategy accordingly. Try to find answers to some of the following questions:

• What are your interests and theirs?
• What is your position and what is theirs?
• What possible problems do they have? How can you solve them?
• What have they done to solve the problem in the past?
• What is the best possible outcome for both parties?

3. Prepare a SWOT Analysis

A SWOT analysis is a great tool for getting a realistic and balanced picture of where you stand in the negotiation process. You need to determine your strengths, weaknesses, opportunities, and threats. This will help you determine the best course of action and what kind of deal would be most realistic for you. This may not guarantee that you get the deal you want, but understanding where you stand can help you avoid settling for a lousy deal. 

4. List Pre-Meeting Questions

It pays to know as much as you can about the other side including who is their decision maker, what are their underlying interests, what is motivating them, and what their walk-away point is. You can find the answers to these questions by preparing a few pre-meeting questions to get to know your counterpart. Do as much listening and as little talking as you can, and let them know you are vested in their interest and seek to find the best solution. 

5. Make a List of Concessions

You should always anticipate concessions in any negotiation. However, rather than being hit with these concessions on the spot, you want to prepare for them in advance. Make a list of concessions you would be willing to make prior to negotiating. List them in order of importance so you don’t give up too much too soon. Likewise, make a list of what concessions you want in return, because you should never give anything up without getting something in return. 

6. Prepare Your BATNA

A BATNA is the Best Alternative to a Negotiated Agreement and it is the only way to be successful in negotiations. When you prepare an alternative deal in advance, you immediately give yourself the walkaway power. During the negotiation, your BATNA serves both as your trump card and your escape plan, should you need one. 

7. Build Rapport

Rapport is so important in negotiations. How can you possibly make someone feel comfortable during a discussion if you are cold, aggressive, or unfriendly? Take a few minutes to break the ice and get to know each other a little better. A little small talk can go a long way in building a trusting relationship. The other party will be more inclined to make a deal with someone they like, as opposed to someone who is strict and grumpy. 

8. Prepare to Listen

All too often negotiators spend so much time preparing what they plan to say, that they forget all about listening to the other person’s needs. How are you going to create the best possible solution if you don’t really understand the problem in the first place? Active listening is one of the most important skills to develop as a negotiator. Ask open-ended questions and be prepared to actually listen to their response. 

9. Design Your Deal

Working with other members of your team, put together a comprehensive list of options to consider when designing your deal. Keep working until you come up with numbers that everyone agrees upon. Also, make sure to consider your SWOT analysis when coming up with your deal.

10. Prepare Yourself Mentally

As your negotiation draws near, begin preparing yourself mentally for what lies ahead. Think about what you plan to say, rehearse it in your mind over and over, and start getting into the right frame of mind. A positive mindset can mean the difference between a successful and unsuccessful negotiation. 

The purpose of any negotiation is to persuade others to agree to what you want. That said, what is the best way to go about persuading the other party? Should you be tough or willing to compromise? Should you be friendly or stern? There are several different strategies and tactics for going about getting what you want. One such tactic is to be an accommodating negotiator.

Opposite of the hardball negotiator, an accommodating negotiator is more selfless and might even be considered the “good guy.” The aim in this style of negotiation is to make sure everyone walks away feeling like a winner. This strategy involves understanding the needs of all parties involved, and being willing to compromise to help everyone meet their needs. There are times when being an accommodating negotiator can really pay off, though you should be wary of being overly accommodating. Here is when you should utilize the accommodating strategy and how it should be done so you can ensure you don’t give up too much. 

The Advantages of Being Accommodating

There will be times when you, as the negotiator, will need to consider the bigger picture. Perhaps you are trying to build a solid relationship with the other party for future business deals. Or, it might be that you are willing to give up a higher salary so you can take the job at your dream company. Whatever the situation, when you are looking at your potential future, it might be in your best interest to be more accommodating during a negotiation. Here are just a few advantages to consider:

• When done properly, you will be respected and appreciated by the other parties involved.
• It will help you continue to remain on good terms for future negotiations.
• You can maintain control over your losses.
• The other party will have a better impression of doing business with you. 
• The other party may agree to your terms out of respect.

All too often people enter negotiations assuming there will be a winner and a loser. Unfortunately, this can lead to poor relationships, anger, frustration, and someone feeling like they got the short end of the stick. You can avoid these negative feelings by being accommodating during negotiations. In doing so, you will improve your relationship with the other party and show that you are easier and more reasonable to deal with for future negotiations. When done right, you could turn things around for your benefit by your willingness to be accommodating. 

Why You Should Proceed with Caution

While it can certainly be beneficial to be accommodating during negotiations, it can also be to your detriment. There are also some disadvantages that come along with being accommodating:

• You may end up with lesser rewards on the front end.
• You may feel frustrated at having to give up too much.
• It could generate a lack of confidence among your peers.
• You could end up getting taken advantage of.

The accommodating negotiation style can be beneficial for improving relationships with the other party, but it should be done appropriately. You never want to concede more than you are comfortable with and you certainly don’t want to be viewed as weak. Therefore, be cautious when accommodating others during a negotiation and carefully consider your actions.

Negotiations can be tense, especially when the stakes are high. If you negotiate too hard, the deal is lost. If you are too timid, you could end up leaving money on the table. In reality, negotiations are a lot like a ballet, meaning you have to learn how to dance your way around certain situations in order to come out with a win. Successful negotiation is very much an art, rather than a hard science.

The reality of negotiations is also much more complicated than one might think. Not only is it important to focus on closing the deal, but it’s just as important to focus on when to walk away. Knowing when to walk away can be difficult. You don’t want to ruin the business relationship, but the last thing you want is to fulfill a contract that’s not ideal. For this reason, it is important to understand the dynamics of negotiations, including when to walk away. There is no point in prolonging a negotiation that is going nowhere. Here are a few signs that you may have reached the end of your rope and you would be better off walking away. 

You Have Reached Your Hard Line

Before you go into a negotiation, you should always determine the “hard line” at which you are not willing to cross. This would also be considered your “walk-away” point. For example, it might be a number that is the absolute lowest you would be willing to go before the deal no longer makes sense. It’s critical that you know your hard line before you sit down to negotiate and not try to come up with it in the heat of the moment. Furthermore, once you have settled on a number, stick to it. If the person isn’t willing to meet you at that number or better, it’s time to walk away. 

You Notice Major Red Flags

It’s important to be prudent when negotiating business deals. Sometimes we tend to ignore huge warning signs, hoping that things will ultimately work out. Unfortunately, it can be too late and things can really end up going awry if you aren’t careful. If you begin to notice that the person you are negotiating with keeps flip-flopping back and forth, making promises you know they can’t keep, or telling you things that just don’t add up, you’re better off walking away instead of prolonging the inevitable. 

Your Morals and Values are Being Compromised

Everyone has different values, and what’s morally important to you may not be as important to someone else. Though it’s not easy, this is one of the most important times when you need to walk away from a negotiation. If your gut is telling you that things aren’t right, trust your instincts. You should never have to deviate from behavior that you think is acceptable or compromise your own values for the sake of a deal. No deal is worth losing your integrity. 

You Know You Can’t Keep the Commitment

Sometimes we end up overcommitting just to get the deal signed. The problem with this is that you are setting yourself up for failure and you are also setting yourself up to damage a working relationship. Even if it means walking away, you are doing yourself a favor by walking away when you know you can’t deliver on your promise. It may sting in the moment but it will be more favorable for you in the long run.