Saturday, June 30, 2007

Her Secret -- Negotiation Skills

John McKee, author of "21 Ways Women in Management Shoot Themselves in the Foot" gave these 7 tips to boost your negotiation skills (John McKee's website http://www.businesswoman-web.com/):

1. Be prepared to walk away. This is single most important strategy to getting what you want out of life. If you aren't prepared to say, "No, " and mean it, then you're likely to end up settling for a lesser outcome. Before entering into the negotiation, know in advance exactly what you are and are not willing to concede, so that you don't need to process this information on-the-fly, without adequate time to weigh the pros and cons of each.

2. Know when to fore go all together. A good deal comes together quickly, a bad deal takes way too long.

3. Deal at the right level. Nothing is more frustrating than trying to do a deal with an individual who can't make the final decision. It's far more efficient and effective to find the right person to negotiate with directly, "(wo)mano y (wo)mano."

4. Come prepared. The more information you have surrounding the circumstances of your endeavor, the more likely you are to not only prevail, but also get the best deal possible. Whether it's the average pay for a given job, the price typically paid for a product or a service, or your competition for a new position, knowledge is truly power.

5. Don't take anything personally. To maintain objectivity, treat every negotiation as if you're doing a deal for someone else who has hired you as the professional "closer." When you allow yourself to get emotionally involved, rational thought often goes by the wayside and you're far more likely to concede to your later regrets. Cool heads get the best, and most, out of what they're seeking.

6. Anticipate objections. Prior to the negotiation, brainstorm all the reasons or objections that may prevent you from getting what you want -- and prepare a thoughtful counterpoint for each, one at a time.

7. Don't underestimate karma. The best deal is one where both parties walk away feeling positive about the result of the negotiation. The worst deal is that where one side leaves the table feeling slighted with the short end of the stick. If you're the kind of person who has to win and is prepared to humiliate or otherwise make someone feel bad as a result, sooner or later the gain is likely to come back to haunt you. Accordingly, consider in advance what would satisfy the opposition and be prepared to pull those cards out of your pocket strategically during the course of discussion.

The key is to be tough but fair, come prepared, and know when to walk away.

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