How to Negotiate, Part II

Negotiation is a fine art and one that Rhonda Robinson knows well. As the owner of Indigo Journeys, LLC, a travel agency in Hanover, Minn., Robinson must meet the goals of both travelers and travel vendors. She helps clients plan dream vacations that suit their budgets, and builds strong working relationships with vacation providers and tour operators. The result? Clients get perks, vendors score a sale and Robinson stays in business.

Here’s how you can step up your negotiating game:

See both sides. One of the greatest mistakes negotiators make is not acknowledging the other side, says Nicole Schapiro, author of Negotiating for Your Life and owner of Nicole Schapiro & Associates in Sausalito, California. In the February issue of Your Business Online®, we explained the four negotiation styles. Now it’s time to use that knowledge to your advantage. Pinpoint your ideal goals, possible alternatives and what you’re willing to concede (and at what point you’re willing to concede). Do the same for the other party. When you truly understand your negotiation partner’s perspective, “you can start acknowledging what’s a mutual goal,” she says.

Listen up. When negotiating, Robinson takes notes and asks follow-up questions that require more than “yes” or “no” answers. “I love to talk, but I’ve learned that I physically have to make myself listen,” Robinson says. Listening can be more powerful than talking because you’re showing that you’re making the effort to understand the other party’s point of view—which helps you avoid misunderstandings and achieve a better outcome.

Remain silent. Shhh…silence is a secret weapon because it makes many people uncomfortable. So, if, for example, a vendor gives a final price for services you know is negotiable, stay quiet for a few seconds. The price tag might drop because your negotiating partner will rush to break the awkward silence. If you’re selling rather than buying, walk away as soon as you seal the deal to avoid over-selling.

Know where you stand. Not sure if you should continue or walk away? Test your progress with a “trial balloon.” Say something along the lines of “Maybe this is not the best time to make this deal,” and see how your negotiating partner follows up, Schapiro suggests. Or make an offer to follow up, such as “we could continue this conversation in five days.” Always use uneven, specific numbers like “five” because they prove that you’ve really thought about your decision, Schapiro says.

If the other party doesn’t budge—and if you feel like you’re conceding too much—it’s probably best to walk away. But make professionalism a priority. “Never, ever burn your bridges,” Schapiro says.

Don’t dwell. No matter how hard you try, sometimes negotiations fizzle. Case in point: Robinson has had clients with unrealistic ideas—such as traveling to Australia for three weeks on a $2,000 budget—who refuse to lower their expectations even after she offers several alternatives. So when they tell her “no,” she takes it in stride. “It’s not a reflection on you,” she says. “It wasn’t right for them to begin with.”

(4 votes, average: 3.50 out of 5)

 Loading ...