How 7 Key Negotiating Tactics
Helped Me Win at The Table

Posted on 20. Aug, 2008 by in Negotiating

THE OTHER DAY, I covered 5 Mistakes that you need to avoid. Below, you'll now find 7 Winning Tactics you should look to employ.

Tactic #1: Treat Negotiating as a Process

Most people look upon it as an Event — something you should finish in one sitting. But what you need to do, is have people make an Investment (of time or money) — because quick deals seldom stick.

Tactic #2: Welcome Objections

In most cases, they are simply saying: "You haven't yet given me enough information to make a decision". When you're not getting any objections ... chances are, you won't be doing a deal.

Tactic #3: Use the Power of the Printed Word

Simply confine your discussion to the agreed commercial terms; and allow them pretend to "study" the fine print, if they wish. You'll find very few people actually challenge the standard wording on a printed Contract.

Tactic #4: Confirm ... OK ... Approve

People have been told never to sign anything before talking with their Solicitor. However, the funny thing is ... they'll move straight ahead, if you simply ask them to confirm, OK or approve it.

Tactic #5: Float "Trial Balloons"

In a sticky spot, simply say: "If I were to _______, would you be prepared to _________?"

Tactic #6: The Power of Competition

Whenever you can create the illusion of having options ... your proposition suddenly appears a lot more attractive.

Tactic #7: Time is Your Friend

Remember ... 80% of the concessions occur in the least 20% of the Negotiation. So, find out the other side's deadline.

Bonus Tactic: Silence!
Whenever you ask a "closing question", simply pause. Yes, it may seem like an eternity. But when the other side finally speaks ... invariably, you'll find they will actually commit themselves.

As mentioned the other day, I am in the process of putting together a Master Class on Negotiating Secrets — and if you're interested in, you can take a look now.

 

Tags: ,