Negotiation is an art form that is a skill individuals can learn to use to their advantage in both home and work life, if they know where to begin and where they want to be. One of the best ways to turn a negotiation to your advantage is to be the first one to toss out an idea or a figure or what you’d like the ultimate outcome to be.
Studies show that the one who makes the first offer sets the anchor for the negotiations – the starting point – and then the compromise in the negotiations will begin. Once you’ve set the anchor for the negotiations, stand back and let the other party mull it over. This is your time to be quiet and in many cases because we have so much riding on the outcome, it is hard to simply sit back and wait.
Resist the urge to fill the silence with chatter while the other party is considering your offer. Once you do speak again, make certain your questions are open-ended. See if you can meet in the middle and come to a point that is agreeable for both of you.
Don’t ever begin a negotiation before you know exactly what you want. If you don’t know the ultimate outcome you’re looking to achieve it’s possible you’ll be talked into a different position or not achieve the goal you sought.
If you can avoid it, you don’t want to have to make concessions. If the person you’re negotiating with asks you to lower your prices or cut the services which you’re providing, you need to ask for something in return to make it appear you’re not giving in, but making a decision that is in your best interests. Negotiation is an art form that, with practice, you can excel at.