Everyone wants to come out on top of their business negotiation deals.
But do all of them succeed? The answer is No.
Business Negotiation is everyone’s right. Especially when you already have put in the work to get there. However, master the art of negotiating is like walking on a tightrope. One misstep and you are down on the floor.
“More often, though, our negotiation mistakes are invisible: We get a perfectly good deal but are unaware that we could have gotten a better one if we hadn’t succumbed to common errors and traps,” writes Katie Shonks, editor of the Negotiation Briefings newsletter and a research associate for Harvard Business School. “Negotiators often don’t understand how emotions affect negotiations. Anger can lead us to make overly risky choices.
What to Do?
To avoid negotiation pitfalls, you can always aim at a win-win situation. And this takes both patience and rapport with the employee or client. So, how do you utilize that in your favor to boost your chances for a successful negotiation? (Spoiler Alert: Take Caution!)
Prepare Well for the Negotiation
There’s a popular misguided belief that being strongly opinionated can get you what you want. However, wise negotiators know better. They understand that taking time to get themselves prepared for such a meeting gives them the best chance at it.
Focus More on Collaboration than Competition
A great deal of contributors to this attribute is fear. This is due to the lack of belief and trust factors that leads to seeing them as a competitor. However, negotiation is done to collaborate and not compete with each other.
Less Dependence Cognitive Shortcuts
Cognitive shortcuts are the heuristic methods of thinking where we often rely on practical review to come up with an immediate solution to negotiate.
Don’t Allow Emotions to Get the Best of You
Practicing cognitive biases can often lead us to emotional biases while we negotiate.
Don’t Take Ethical Shortcuts
There is a common misconception that only the ruthless ones can be unethical in negotiations.
You can learn a lot more about this post by following the link here
4 Sales Negotiation Traps—and How to Overcome Them
Negotiation Strategy: Seven Common Pitfalls to Avoid
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