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.