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Negotiating Skills

talessi@ariesfoundation.org

3 Tips to Improve your Negostiating Skills

How can you improve your negotiation skills? Even if you hate to negotiate. Even if you are afraid to get started with it. Even if you have no idea where to begin. We will share 3 TIPS to help you get started.

TIP #1 - TRY TO SEE THINGS FROM THE OTHER SIDE
Before you sit down and try to negotiate with someone you should try to take the perspective of the person you're negotiating with. This is based off a research study done by Columbia business School professor and negotiation expert Adam Galinsky where he found some interesting insights behind what helps people close a deal.

Here's what went down. They got together a 154 undergraduate students and broke them into three groups. Each group was given different directions on how to approach the sale of a gas station. The first group, (the control group), was told to just negotiate the sale. The second Group, (the empathy group), was told to imagine how the other person was feeling. And the third group, (the perspective taking group), was told to imagine what the other person was thinking. What happened? 54% of the empathy group struck a deal, which compared with the 39% of the control group was a significant increase, but what about the perspective taking group? They struck a deal 76% of the time!

 So that means when you want to negotiate the close of a deal take the perspective of the person you're talking to. Try to think where he's coming from, what is going on inside of his head? Why is he looking to make a deal in the first place? Can you align his incentives with your own?

 TIP #2 - ALWAYS ASK FOR MORE THAN YOU REALLY WANT
Let's say you are negotiating a job offer and you really want a five thousand dollar increase in your salary. What should you do? Don't ask for five thousand dollars. Ask for ten thousand dollars and a week's vacation.

 Why? Asking for more than you really want gives you the opportunity to make sacrifices while you're negotiating. After hearing your offer the hiring manager is probably going to say you're asking for too much. But that's okay you've got five thousand dollars and a week's vacation worth of wiggle room. You can sacrifice that extra money and vacation time, meet the hiring manager in the middle and agree on that five thousand dollars salary increase. Which is what you really wanted anyway. So if you're negotiating your salary, a client contract, or anything really ask for more than you're willing to take. Get it? 

TIP #3 - SAYING NO IS NOT YOUR FAULT

 Here's the deal. When you take responsibility for the no you're positioning yourself as the foe and the other person could get defensive and that's no good. However, when you pass the blame to someone else you take on a different role. Instead of being the enemy you're actually working with the person you're talking to find a common resolution. Be the good guy.

Let's say you are trying to hire a worker or someone to fill a position, but the person wants more than you have been given to pay them. How can you handle that? "Sorry, but I have been strict guidelines by the people in charge that his is as high as I can go for the job/salary etc... If it was up to me I would, but unfortunately it is not up to me. If you can do it for this amount then we cna move forward." In this case you are positioning yourself as a friend with the boss or business as the person to blame. You put yourself on the same side as the person you are negotiating with, which gives them the sense that you are on their side in trying to work out a deal.

There are 3 Tips that you can use to become a master negotiator;
  1. See Things From Their Side
  2. Always Ask For More
  3. Saying No Is Not Your Fault
GOT QUESTIONS? ASK US. WE CAN HELP WITH THAT!
The ARIES Foundation for Financial Education, Inc is nonprofit dedicated to the mission of trying to help everyone have a better relationship with their money. Visit us at: https://www.ariesfoundation.org/ to leaqrn more, or shoot us an email and we are happy to answer your questions: crichardson@ariesfoundation.org
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