Negotiating is one of those skills we all have and use every day. Some are better than others but we all engage in negotiations all the time. Negotiating is not limited to your day job but comes useful in every situation you want something of somebody and includes when you’re talking to your boss, co-workers, spouse and children.
When most people think of negotiation they think of it in business terms or dealing with a salesman, but in fact a negotiation can be as big as two hostile countries sitting down and talking or your child asking you if they can borrow the car.
Before you enter into any negotiation you need to be prepared and there are 3 areas in which you have to be prepared every time. They are:
Yourself – Knowing yourself and knowing what you want is the most important factor. It will take you some time and thinking to clearly define what you want out of life but once you do your confidence will be increased and your negotiation skills will improve. Preparing yourself also means knowing your strengths and weaknesses.
The other person – As soon as you find out who you will be negotiating with it is very important to research that person. This offers a couple of advantages that can save you a lot of time and make the negotiation go smoother e.g. by doing your research you will have found out what authority this person has and therefore you will not ask for impossible things the person can’t offer, also on the other hand you will know for sure if they are claiming they don’t have the authority.
Knowing a little about the other person also has some social benefits. You can build rapport from the start by showing you know a fact or two about the other person. In situations such as an interview this can work wonders because it shows you took the time out and did research.
The Industry – You need to know about the industry you are working in. Strive to constantly learn about what is going on in your industry so you stay updated. Whenever you are going to be negotiating in an unfamiliar industry make sure to do the research so you know the players and the issues.