Negotiations can be tense and if you are not careful, you might make some mistakes that will hurt you. It is important to make sure you are aware of these mistakes and how to avoid them. The mistakes mentioned here can change the outcome of any negotiation. It is therefore important to read through the article and try to avoid them.
- Keep Emotions Out
Emotions have the tendency of blurring your thoughts. The negotiation table is a place where you are required to be clear minded enough to deal with the issues presented. It can be a tense place on its own that will want to provoke certain emotions but keeping a lid on it will help you tackle each issue with a clear mind.
You need this clarity to know the options you have and what to do as an emotional person may act before thinking. Negotiations are usually done in groups and one reason could be that everybody would need to draw some kind of balance from the next person. The team already knows what they want so it would be hard for one person to be so carried away that he or she starts acting on emotion. There are some negotiations that are charged with emotion. A good negotiator might want to postpone such meetings till everyone can rein in their emotions because it has never been known to serve the negotiation table well. The parties can overact and start acting not because of issues at stake but because of the people involved. Successful negotiations tend to be issue focused and even when the people involved do not see eye to eye or there is a chance of things getting out of hand, focusing the meeting on the issues at stake tends to keep personalities at bay. By focusing on issues, we are saying that you should focus on the interests of both parties i.e. what they stand to gain from the negotiation table rather than who did what that led to what brought them here. When everyone is focused on what they will gain from the table and they will tend to want to progress on that footing and come to a conclusion that they will be satisfied with.
- Ask For Something Higher
It is always nice to start by over reaching. This is more so when the other party does not have any idea that you are doing just that. Of course they will have to respond with what they can afford or are willing to pay yet over reaching has a way of changing your value in their eyes. This will make them to start considering offering you something that is close enough to your initial asking price. Starting from that point sets the tone of the negotiation. It will also give you an idea of a line you will not want to go below during the negotiation and that line would of course be higher than what you would have normally asked. Negotiation depends more on the skill of the people on the table and what they can get based on their approach. It could be place of immense profit for you if you start by asking for a higher price. However, asking for your “normal” price would be a mistake because there is a likelihood that the other party will want to go lower. They will also assume that you pushed your price higher and this could lead to a deadlock if you refuse to budge.
- Be Willing To Change The Final Draft Before Signing
This is important; nothing has been agreed or has become binding until you sign the document. You should not allow yourself to be trapped into signing anything because you agreed to it during the negotiation process. You may change your mind at anytime as long as you have not signed the document. Things might become clearer to you after reading the final draft or a second opinion might point out something you did not factor in when you were negotiating. It is important you realize that you do not have to sign anything if you find out that you are no longer comfortable with what you discussed.
You should have a good poker face during negotiations because being easy to read can work against you. it is advisable to show measured expressions after the deal has been signed and if you feel like doing cartwheels, you should probably do it privately. Of course, this depends on the nature of the deal. It may be a kind of deal that everyone knows you are making a killing and the other party do not mind so showing your feeling may be in order.