10 things
10 things to know about :
Effective Business Negotiations
Negotiations are an almost-daily work activity for Gene Cody , President of the Montgomery-based commercial realty business Moore Company Realty , as he makes deals for his clients . But according to Cody , we all negotiate every day . “ Negotiating is a fundamental form of communication ,” he said .
“ Negotiation skills are life skills ; you must develop these abilities to be successful in both business and life .”
Take note of Cody ’ s top 10 tips for conducting effective business negotiations .
1
Know Your Audience : The more you know about your audience , the more you will be able to engage them and understand their needs and wants on a more personal level — such as their motivations , lifestyles and behaviors . These efforts will pay dividends later when you begin preparing for your negotiations .
2
Be Prepared : A successful or unsuccessful negotiation lies all too often in the quality of the parties ’ preparation . Take plenty of time to analyze what you want out of the negotiation . Proper preparation is an important source of negotiating power .
3
Understand Your Market : Understanding the market is another important essential in negotiating . Conduct thorough research before entering into a negotiation so you ’ re armed with a solid understanding of the current market conditions , trends and values in question .
4
Control Your Emotions : Emotions can be contagious , and it ’ s important to not let yourself be affected by others . Be mindful and aware of everything going on in the room , from body language and facial expressions to word choice .
5
Ask Questions :
Ask meaningful questions , then listen to the answers . By asking questions you uncover needs and priorities ; the sooner you can find out what the other party wants and why they want it , the sooner you can come to conclusions .
6
Listen : This may seem like a repeat , but listening is so critical . It can be very difficult to listen when the other party disagrees with you . It takes time and practice to be a good listener .
7
Use Your Sense of Humor : Negotiations don ’ t have to always be tense conversations . Enjoy the time spent with the other party ; you might need them one day .
48 CentrAL Inc !