The key to success in business is to use words to master negotiations. Some negotiators employ intimidating strategies to win deals and others use body language and gestures to distract attention. While there are many useful strategies we can use to succeed, vocabulary is the simplest, most efficient way of making ourselves understood. Some words can work miracles in business negotiations. Let’s have a closer look at 5 fascinating words that can help people win negotiations.
Walking into a negotiation with the sole purpose of winning is not always a good idea. Compromise has its purposes, and in some circumstances it can work miracles in a negotiation. First of all, making concessions helps people build connections. Mutual agreements may create long-term relations, and we have to admit that in the business world having connections is paramount. Skilled negotiators are well aware that they must give something up in order to get something more valuable in return. Compromise is not about leaving your guard down and looking weak; compromise is about saving your business, making a change, and looking into the future.
In business, influence and success rely on relationships. Never underestimate opponents, and stay away from manipulative negotiation techniques in order to win. By creating an intimidating environment during a negotiation, you create hatred; and hatred can have devastating effects for business. It’s best to use negotiations to create connections, bonds, and meaningful relationships. Be honest with opponents, be respectful, and do everything in your power to feel proud of what you’ve achieved.
In business, leverage is better known as one’s ability to influence an opponent’s perceptions with a small advantage. Basically, creating and preserving leverage is based upon creating and demanding value. In negotiations, this is an extremely powerful word because it can make an offer seem too irresistible to decline, even if it is expensive. For example: if your company has something to sell, but no other company in the city has what you’re offering, you have leverage. Make sure that your opponent knows you’re not bluffing. If your business is unique in some special way, offer proof and bargain for the best deal.
No business person should walk into a negotiation unprepared. If you want opponents to respect and value your business, it’s important to do your homework. First of all, you have to perform a thorough research and get to know the people in front of you. Find out as much as possible about their business; check former clients and assess their company mission. Your prevailing aim in a negotiation is to attain an objective; there are additional aims, too, such as a improving relations and getting an excellent deal, and as long as you are prepared to bargain, things will eventually settle in your favor.
Esteem is an extremely powerful word in the business world. It is usually given to companies and business people who are honest, committed and fair. Entrepreneurs who deal with negotiations must find a way to respect opponents no matter what. Never let others break you, even if they use unethical strategies to get what they want. Rather than allowing counterparts to see your weak points, it’s best to appear immune (even if it kills you inside). Respect is a strong word that can bring lots of benefits. A professional attitude makes you and your business look transparent, too.
Always remember that sneaky, deceitful negotiation strategies have temporary effects. Sooner or later, someone will eventually sense your unethical behavior, and that can affect your company’s reputation. If you show respect all the way through, nobody can damage your reputation and status.
Winning negotiations is easier said than done. Many professionals don’t want to bargain because they don’t want to compromise, or because they’re too afraid of devious strategies that can affect their reputation. The good news is with some negotiation training, winning a deal can be something extremely easy to achieve. Stick to your guns; don’t give up too much and never let an opponent get under your skin. It’s ok to make concessions if you have something to win from a deal, and never assume that win-win solutions are for the weak – they’re not.