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Why & How to negotiate?
Whether you're the buyer or the seller, you're going to be challenged when it comes to business negotiations. It's not that different from entering a ring with an opponent. As a negotiator, you need to know how to play your cards right. These techniques will help the odds to be in your favour.
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First offer should be bold and aggressive.
There will be bargaining as it's a huge part of a negotiation. So, be prepared for the buyer/ seller to steer everything in their. Which is why you should start assertively (even with nor promise of success).
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Don't be intimated by jargon
Corporate snobs (yes, we're not afraid to call them that) in particular like to throw around jargons and words that they know you don't understand. The purpose of this is probably to intimidate you. Ask them to clarify whatever you don't understand.
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The decision maker should be present
In every meeting, the decision maker should be present. There are meetings where they are not, and this just annoys the ones who are present because it usually presages that a deal won't be made anytime soon.
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Preparation
Preparation is key. Familiarize yourself with the product/service and the people first, before you go on to "enter the ring", so to speak. You have to be fully equipped.
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Go for a win-win deal.
A successful negotiation is where both parties can walk out happy. Not only will you and the other party benefit, but you'll also have a strong business relationship that will be advantageous in the future.
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When the final result is expected to be a compromise, it is often prudent to start from an extreme position.
JOHN MAYNARD KEYNES
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18 | A start-up guy, Content creator, soloprenuer and a podcaster. Building Blast, Snakcards and more. Stashing about entrepreneurship, self-help, spirituality and the most interesting stuff I read.
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Get clear on your negotiation goals
There are 3 key questions you should ask yourself:
- What's the best possible outcome?
- What's your bottom line? This refers to the least acceptable offer. If you're the seller, what's the lowest offer you'd be willing to accept? And if you're the buyer,...
Overcoming Sales Rejection: Listen To the Customer
Your first reaction when you hear an objection may be to jump right in and respond immediately. Resist this temptation.
Instead:
- Take the time to listen to the objection fully
- Don't react defensively
- Train yourself to ignore any negative emotions you may be ...
How To Negotiate On A Job Offer
- Study your prospective employer. There are many different websites that let you take a glimpse into their salaries, work culture, and benefits.
- Ask for advice from your seniors or those who are in the same role as the one you're applying for and t...
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