If you’re an Indian, you probably learnt how to negotiate while you were in the womb. From negotiating with the bhajiwala to arguing about that window-seat, we’re quite adept at coming to terms on a deal our way. However, when it comes to the corporate field, negotiating things in your favour is unfamiliar territory for most of us. Here’s how to make the most of a conversation when you feel things aren’t going your way.
Know your worth
It is the easiest thing to let others decide your worth or the price of the product you’re negotiating. It is also the most foolish thing. Always know the exact market price of your goods and services. People will always try to pay the least amount possible so cover their profit-books. Agreeing blindly to whatever offer is made to you is cheating yourself and your business.
Find your worth
The amount of places you can look for to get a correct handle on your goods and services is bewildering. You need to go in with a strategy that will help you find what you need in the shortest amount of time possible. Whether it is interacting with a professional in the field or tracking the latest news for a quote on prices, your organisational skills need to be put in use. Also, it is a good idea to double check the price you find. You will be surprised how many times you get disparate prices for the same job or product.
Find leverage
Not all negotiations will go exactly how you imagine it should. In fact, most of them will be failures. Learning to find leverage in what is offered to you and being able to decide whether it works in your favour or not in as little time as possible is the greatest skill you can master when it comes to getting a decision in your favour. Of course, achieving this requires a lot of time and effort. Start negotiating on smaller topics before moving on to bigger ones, keeping leverage in mind in all your dealings.
Take initiative
As soon you realise that the interview is not going your way, stay alert for the earliest opportunity to wrest back the initiative. If you begin to lose interest once the conversation shifts focus to the opposite person, be sure that you will lose the negotiation rights as well. Identify the strengths and weaknesses of each argument and learn to grab attention to yourself when you have an opening.
Be prepared to fail
Always assume the worst before you go into a negotiation. You may not have anywhere to go but it is important to show that if you don’t get what you want, there are other places you can go to. The ability to walk away from a meeting that is not going your way is one of the biggest advantages you can carry with you. Of course, the flip side of this is that you must be willing to negotiate rather than pick a stand and sulk till you get your candy. Find the right balance and you’re on your way to a successful negotiation.
Follow these steps as staunchly as you can and success is bound to follow.
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