Have you ever stopped to consider whether your negotiation style is effective? Maybe you are too tough and come across harsh or maybe you are too accommodating. Although your goal is to achieve an effective balance, chances are your natural personality tends to have a strong impact on your negotiating style. Good negotiators work to identify these natural tendencies and know when they need to change their style. They are able to devise a strategy for building powerful negotiating skills. Continue reading →

One of the key ingredients to getting ahead in the workplace is the ability to recognize and capitalize on opportunities.  The art of negotiation is so important because nearly every aspect of the business world is constantly up for negotiation.  The ability to negotiate well can lead to advancements in your career and help you get the most out of life.  Like anything else, it takes a great deal of practice to become a better negotiator.  These 3 exercises are a great way to practice and can help condition yourself to be a strong and successful negotiator.

Role Playing

The best way to test your skills is to work with a partner.  If there is an issue in your life or work that isn’t going well engage a coach or coworker to help you practice your communication skills in order to resolve the conflict.  The key to being a good negotiator is learning how to communicate effectively, so any opportunity to work on those communication skills will be helpful. Likewise, if you know you have a big negotiation talk coming up, such as negotiating a pay raise at work or trying to close a business deal, practice what you are going to say and role play with a knowledgeable partner and rehearse different ways to react to different situations that might arise.

Take a Course

Taking a negotiations course can be extremely beneficial if you want to strengthen your negotiation skills. A training course uses a combination of interactive exercises, dynamic role plays, and seminars from experienced negotiators to help you transform the way in which you negotiate.  These training courses are designed to help you work toward achieving win-win results.  The blend of instruction, practice, and training, will help you to build your skills and meet your negotiation goals.

Negotiate Everything

If you want to become a better negotiator, you have to negotiate.  The next time your boss gives you an assignment, try negotiating the terms of the assignment or the amount of time you have to complete it.  When you get a phone bill in the mail, call your provider and try negotiating a better deal.  The more you do it, the more comfortable you are going to be and the more confident you feel.  Start with small situations such as responsibilities with family and friends and work your way up to negotiating more authority in the workplace.

These 3 exercises can help you to become a better negotiator.  You will feel confident in your skills and learn how to utilize these skills for advancement and success.

Negotiating a pay raise is no easy task and makes most people nervous and uncomfortable.  Even though most people would love to make more money, they rarely get excited about the thought of having to ask for it.  However, the fact is no one is going to voluntarily throw money at you so if you want to increase your salary you are going to have to be prudent.  Just like interviewing, negotiating pay is part of any professional career and practicing will only make you better. The art of salary negotiation is an essential skill that will help you throughout your professional life.  Here are a few negotiation tips that will help you get the pay raise you deserve.

Do Not Appear Threatening

Many people approach salary negotiation with the mentality that it’s “you vs. them.”  While it’s ok to be assertive, you should not come off as threatening or demanding.  Instead of viewing the negotiation as war look at it as a partnership.  Ask for more money based on what you can do for the company rather than what they owe you.  If you threaten to leave over the salary, you are likely to make a bad impression.  Let your employer see that you are valuable but you are also reasonable.

Know Your Worth

So we would all love to bring home a large paycheck but you must be reasonable with your request.  You need to be prepared and have a good idea of what you are worth to your employer before asking for more money.  You can get a good idea of a reasonable salary by researching similar jobs to get a benchmark salary range.  You might even start interviewing for a different job to get a better understanding of similar compensation packages.  If you are offered a different job this could also give you more bargaining power.  You should also consider your replacement cost.  This could help you make the argument that you could deliver immediate results when the company would have to pay quite a bit to train someone new.

Demonstrate Your Value

It’s time to let you employer know just how valuable you are and why you are worthy of a pay raise.  It would be helpful to have materials available where you could show your accomplishments and what you bring to the table in terms of profit and productivity.  Explain what special skills you have that set you apart from others and how much you actually contribute to the company.  Make them feel as if they would really be missing out if they lost you as an employee.

Let Them Throw Out the First Number

One of the most important rules when negotiating is that you never want to be the first to name a number.  Let them make a suggestion and go from there.  If you are unable to deflect from avoiding a number, be prepared to give a narrow range that you would be willing to accept.

Proceed with Silence

Do not feel pressured to commit to an offer too early.  Allow yourself time to think about it and answer with something like “Thank you and I’m going to get back with you on that.”  This will show that you are not desperate and they might even come back with a higher offer.

Asking for a pay raise is rarely easy but it is important to learn to speak up for yourself.  These tips will help you execute a strategy in which you can negotiate a higher salary.  It’s time to build your confidence and go get the pay raise you deserve!

When it comes to closing sales you might think that the customer/client relationship is one of the most important tools for successfully closing deals.  However, there are a number of tools and resources available to help facilitate the sales process.  The following resources can help sales professionals build relationships and provide an added advantage for closing sales.

Social Media Platforms

One of the most important parts of the sales process is getting to know your prospects and establishing a relationship with them.  Social media platforms such as LinkedIn, Facebook, and Twitter can help businesses accomplish this task. It provides a way for businesses to connect with their customers.  Salespeople can actually see what their customers are saying about them and it gives salespeople insight into the needs of their customers.  Social media platforms are a great way to generate leads as well as strengthen existing relationships.

Prezi

When salespeople are presenting their product or service to a potential client the idea is to be informative yet captivating at the same time.  Prezi allows you to do just that.  This presentation platform allows you to turn your sales presentation into an engaging conversation.  Unlike traditional PowerPoint slides, Prezi allows its creator to move more fluidly through the content in a way that is dynamic and captivating.  Salespeople can use this helpful resource to impress prospects with a seamless and vibrant presentation.

Skype

This can be one of the greatest sales tools for connecting with long-distance clients.  Traditionally those client meetings either required long flights or a conference call but with Skype you can have a face-to-face meeting with a potential client who might be hundreds of miles away.  It will help you to build more personal relationships with your clients no matter where they are located.

Quote Roller

Once you have pitched your product and you have hooked the customer, the final phase of the sale is the proposal.  Quote Roller is a great resource for getting the most out of your proposals.  Aside from creating and sending proposals, Quote Roller allows you to see when your prospect opened the proposal and how long they spent on it.  It also has a mobile app which is perfect for outside sales professionals who are always in different places.

These sales resources can be great tools to help sales professionals close more deals.  Sometimes it takes more than a great product to sell itself and these tools are perfect for increasing sales.

The ability to negotiate well impacts many key factors in your career.  Negotiation is necessary when it comes to salary, promotions, client relationships, and sales.  The fact is by not negotiating well you are missing out on more than just money.  You are also compromising your long-term opportunities and growth potential.  That is why it is so important to be able to negotiate effectively.  While there are many helpful tips for learning the art of negotiation, the following strategies  are less common but just as important.

Understanding that negotiation doesn’t begin until someone says “No”

Most people would assume that they must play their cards well in order to avoid rejection.  They are reluctant to negotiate after they hear the word “no.”  However, it must be understood that it isn’t really negotiating when both parties want the same thing.  True negotiation is the act of trying to reach an agreement when the other party’s interests are not perfectly aligned with yours.  So if you want to get what you are after you must learn to negotiate past the “no.”

Your bargaining partner will be happier if you don’t agree right off the bat

While it may seem a bit confusing, studies have shown that people are not necessarily happier when they get what they think they want.  People tend to feel better if you make several concessions before reaching an agreement.  For example, if you ask for a 5% raise and your boss immediately says “yes,” you will walk away thinking that you should have asked for 7% or 10%.  It is a sort of buyer’s remorse.  Rather, you should approach the situation by asking for more than you actually want.  That number will act as an anchor and can move your bargaining partner in the right direction during the negotiation process.

It’s not about money

If asked who came out on top in a negotiating deal, most people would quickly reply with something like “the person who got more money.”  However, if you really stop and reflect on the value of money you will soon find that it is different for everyone.  To one person $20 is dinner at McDonald’s while to someone else it is a half tank of gas.  The point here is that when you are negotiating you need to find out what it is that your counterpart values, prefers, needs, and desires.  You will be more likely to find yourselves on the same page when you start looking at money from a different angle and negotiate according their needs.

You don’t need proof when negotiating

When people are asked about how much money they have made for their company, or how much money this potential client will earn by going with their service or product, they often hesitate to answer.  They are worried that they cannot “prove it” and therefore avoid the question altogether.   Here’s the secret…you don’t have to prove something to get what you want; you only have to say it.  You are not negotiating in a court of law.  You are simply stating an opinion.  You are much better off giving an answer and a stating a reason than saying nothing at all.

The one who seems like they have the least to lose has the greatest bargaining advantage

If you go into the deal acting as though you are prepared to walk away, your counterpart is far more likely to meet your requirements.  That said you must actually be willing to walk away.  You are in a much better bargaining spot if you are not afraid of losing the deal.  In fact you stand a much better chance of reaching your desired outcome.

Negotiation is a skill that requires more than just a stroke of good luck.  It requires practice, confidence, and an understanding of how people react in certain situations.  These strategies  can help you go a long way in learning how to negotiate effectively.  When you learn how to negotiate well, you are opening the door for success and opportunity.

Salespeople all share a common goal: they want to close deals in order to boost profits. However, many are unsure about how to go about getting it done.  They find that when they begin negotiating deals it can be harder than they expected.  Although it can seem overwhelming to transform your entire sales approach, there are a few strategies that are proven to bring winning results.  Examine the following strategies to learn how you can drive sales by effectively closing the deal.

Focus on Results

Many salespeople spend too much time talking about the benefits of their product.  Meanwhile, the customer is bored and all they care about is whether or not your product or service will bring results.  Why not give them what they want and skip the small talk and focus on the results? The bottom line is this: Your customer has a problem and they want to know how you can help solve it.  When the customer hears about the results they can achieve, they will be eager to move forward with the deal.

Host Private Events for Clients

Everyone loves to feel like they are a priority and there is no better way to make your clients feel important than to invite them to an exclusive event.  It will make your clients feel special and they will appreciate the great lengths you have gone to just for them.  It is an excellent way to build relationships with your clients.

Include Options in Your Proposal

Your customers always want to have options.  If you do not present them with options they are likely to look somewhere else to see what they can get.  Provide three options ranging from the least expensive option to the premium option so they have a good perspective on what else is out there. When you present the options in this way you are also giving your client the opportunity to choose the most expensive option which will help you close bigger deals.

Understand the Cost of Your Client’s Problem

Before negotiating any deals take time to do your homework.  Find out exactly how much money your client is losing because of their problem.  Then, when you offer your solution it will sound valuable in comparison.  For example, if their problem is costing them $2 million then your $200k solution seems viable.  They will feel like they are getting a good return on investment and you will be closing a big deal.

When you follow these helpful strategies you are more likely to close deals and increase profits.  These strategies will help you achieve your sales goals and drive profits for your business.

Most professionals will spend some time negotiating whether it’s with customers, suppliers, investors, or even a supervisor.  However, no matter how much experience they have with negotiating there has certainly been a time or two when they put their foot in their mouth.  The moment you get into trouble in negotiations is when you let the wrong words slip out.   Whether you are new to negotiation or just looking to improve your skills, let’s examine a few things you should never say during negotiations.

1. The word “between.” It can be easy to throw this word out in casual conversation with a customer.  You might catch yourself saying something like “I can do that for between $10,000 and $15,000” or “I would like that report sometime between May 1 and May 15.” The fact is when you throw out a range, the person you are negotiating with will quickly zero in on the cheaper price and the later deadline.  You conceded without even realizing it.
2. “I think we are close to reaching a deal.” There is no doubt that negotiating can be an exhausting process and everyone reaches the point in which they are just ready to sign the deal and move on.  The problem with saying this is that you are indicating to the other party that you are ready to settle and a skilled negotiator will use that to their advantage.  They are likely to make more concessions because they can sense you are ready to close the deal.  Always try to get your counterpart to be the one who is eager to finalize the negotiation.
3. “I have the final say.” This might seem like a great way to sound assertive and show your strength but these words can actually backfire. You do not want your counterparts to know that you are the final decision maker even if you really are.  There are times when you might need to step back and take a little bit of time to look over the deal and really think about it.  By telling the buyer that you need to run this by another stakeholder, you are buying yourself more time to make an informed decision.
4. “We can talk about the details later.” You would never buy a home without having it thoroughly inspected so why sign a deal before getting all the details?  You should never agree to any kind of price or contract without completely understanding the terms.
5. “Sorry.” Negotiating can be awkward and uncomfortable and it only seems natural to want to smooth things over in a difficult conversation.  However, apologizing only makes you appear weak and insecure.  Your counterpart might assume that you will be willing to back down and this can be a costly mistake.
6. “Try.” When it comes to negotiation it is all about assertion and the word “try” is just too passive.  It is way too easy for someone to say “We can try to get that done” and come back just to say “We tried and just couldn’t do it.”  Instead, use more assertive language such as “I need you to do this.”  Let your counterpart know that you are not asking for something but you are expecting

Skilled negotiators know exactly what to say at the right time.  They also know how to play on the mistakes of their counterpart.  Saying the wrong thing can cause you to lose a deal and this can be a costly mistake.  Be prepared for your next negotiation by avoiding these detrimental phrases.