Negotiation has big impact on our personal and professional lives. We negotiate on everyday basis and the outcomes of these very important dialogs can be essential for the success of every business. Successful negotiation can be the key to the growth of your startup and entrepreneurs must learn how to master the art of effective negotiation. Within a startup, negotiation skills are required and entrepreneurs must be aware of the importance of improving their personal negotiation skills and the negotiation skills of their team and employees.
Accept the challenge – accommodating and compromising
Negotiation is not about tricking your interlocutor – it is about finding the best outcome from the conversation, so both sides will be equally satisfied. Successful negotiation results in win-win situations. Accept the challenge to negotiate, to think like negotiator and act like negotiator, to accommodate and compromise in order to accomplish more and to achieve your goals.
Know what you want and don’t settle for less. Yes, compromising is important in particular situations, but not when it goes beyond your limit. Know your limits and your needs and work the conversation into direction of achieving the best outcome without making unnecessary sacrifices. Be confident in your negotiation and your interlocutors will get the message that you are serious, that you have clear goal and that you truly know what you are doing.
Don’t be afraid to break the rules
You will hear “No” as an answer many times. It is not the answer that is important but how you react to it. Remember, that almost everything can be negotiable and that you, as an innovator and entrepreneur, sometimes must look for opportunities in places where the rest of the world sees problems.
Successful negotiations don’t require constant speaking and effort to out-talk the other person. Listen to your interlocutor and you are to hear the answers to your questions without even asking. Many people instinctively point out what are the clauses that they are ready to compromise with. Be an active listener and you will understand better the other person which is essential for successful negotiation.
The legal part
While negotiating, you are to receive many verbal promises and deals, but nothing is final until it is legalized. Make sure that you are aware of the legal procedures and that you know how to successfully finalize a deal. Legal preparation is important for entrepreneurs especially when they negotiate with important partners.