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5 Negotiation Tips and the One Negotiation Hack You Need to Know

5 Negotiation Tips and the One Negotiation Hack You Need to Know

How can you be a confident negotiator, get the price you want that feels valuable, and be happy about the transaction?

In a growing world where prices are continually fixed, negotiators and ones who can do so successfully are hard to find.

The truth of the matter is that while most people don’t want to negotiate and will avoid doing it whenever they can, this leads to a tremendous opportunity for those who do know how to negotiate.

The following are the 5 negotiation tips and the one negotiation hack you need to know:

1. Research and set an ideal outcome with a plan to get there

Before you do your negotiation have your research done and know what the market is for the item that you are looking to buy or sell. When you have this figure in mind then you need to plan out the likely ways that your outcome is likely to come to fruition.

Negotiations are rarely going to go according to plan, but you need to set a worse case scenario plan. What is the most you will pay for an item or the least you are willing to settle for in letting an item go?

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Then you also need to do the same for the best-case scenario. What is the lowest price that you can pay for the item or what is most that you can get for the item you are selling?

When you have the best-case scenario you can direct your mind better in what you want to accomplish. The worst-case scenario will show you what you need to avoid and how to be better directed towards a more favorable outcome.

2. Don’t take the negotiations personally           

The biggest resistance people have to negotiations that they might be unaware of is their unwillingness to take out the personal aspect out of the negotiation. They see it as a friendship and aim for a person to like them better than to achieve their goal.

People like others more who they respect. It is more challenging to respect someone who is willing to compromise themselves and what they want in favor of being liked. In the same vein, it is hard to not respect someone who goes for what they want.

Take the personal aspect of the negotiation out of the equation. Focus on what you want and do what it takes to get there. Most negotiations can be totally friendly, but they are actually more challenging to engage in if you are worrying what everyone thinks of you.

3. Bid to the extremes

It doesn’t matter who states the first price. You should be well versed in what this product is worth, the market for such an item, and you should have an ambitious figure in mind for your first offer.

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Whether it is bidding low when you are buying or setting a high price when selling, you are giving yourself more room to negotiate by setting an extreme figure that your counterpart has to accept or adjust for.

Going too far at an extreme has the potential to drive a deal maker away, but there are always more people to deal with. Making sure you set firm your initial standards will at the very worst show the person you are doing business with that you are for real.

4. Aim for counter offers

If the potential deal has come together with only one offer and acceptance, then it is very likely that you could have done better in your negotiations. Upon your first offer, your counterpart should always give a counter offer.

If they immediately accept instead, then you know you could have offered lower or higher depending on your side of the deal.

Remember, most people want to get out of a negotiation as soon as possible. They are worried about upsetting others and don’t want to feel the pressure of the event. Go back with a few well-planned counter offers and you will wear your fellow dealmaker down and get exactly the right price that you were looking for.

5. Honesty first

Commonly there is a lot of negotiation advice that is deceitful or deceptive and this will only inhibit your negotiation skills, strategies, and success as a negotiator.

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While you may get a quick win, it is more important that you develop the skills and can have long standing positive and fruitful business relationships.

For these reasons, if you are the one in charge don’t act like you have someone else making the ultimate decision. This is dishonest and deceitful. Own your negotiation. Don’t tell someone else, “This is the lowest I can go.” This leads to limitations and most people are more likely to do deals with people who are more flexible.

And finally, the one negotiation hack you need to know:

When you are negotiating as the buyer of an item, right before you present your initial offer you need to say something negative about the item up for purchase.

“I like this car, but the tires look bald and will definitely need to be replaced soon. Will you take $5,000?”

You include the negative phrase because it is psychological in nature.

People are motivated by the fear of loss more than the pleasure of gain. When you include a phrase such as the above you give the seller fear and the pleasure of the sale becoming completed right after.

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Most times this hack compels a seller to move the item right then, but if they don’t it gives you an extra edge in your negotiations as well.

Being a good communicator and negotiating what you want is a key to life. If you can’t negotiate, you will be worse off in your relationships, your career, and your life.

How would you be able to have a balanced relationship if you couldn’t negotiate the responsibilities in such partnership?

Use the preceding advice and take your skills of negotiation to the next level. By continuing to practice you will soon feel yourself becoming a fine dealmaker.

Featured photo credit: Robert Owen-Wahl via pixabay.com

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Shawn Schweier

Life Success Coach

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Last Updated on May 22, 2019

50 Great People To Follow On LinkedIn, No Matter Your Industry

50 Great People To Follow On LinkedIn, No Matter Your Industry

LinkedIn is an excellent platform to network with great people to help you in your career and businesses. However, with over 575 million people on the site, who should you follow? This list will steer you to the right people to follow, organized by categories of expertise.

Job Search Experts

You will likely have several jobs throughout the course of your career, and you will constantly need advice on new trends and strategies out there in the job market. Here are the LinkedIn experts who you should follow on these matters.

1. Liz Ryan is the CEO and founder of Human Workplace. Her articles on job searching are filled with creative and colorful cartoons.

2. Lou Adler is the author of The Essential Guide for Hiring and Getting Hired.

3. Dr. Marla Gottschalk will help you make an impact in a new job.

4. Hannah Morgan runs CareerSherpa.net, where she gives expert advice on job searching and how to be more visible online.

5. Alison Doyle is the CEO and Founder of CareerToolBelt.com.

Management Experts

They say that people leave managers, not jobs. These experts in LinkedIn will help you become your employees’ dream manager.

6. Jeff Weiner. How can we leave out the CEO of LinkedIn himself?

7. Nozomi Morgan is an executive coach. She can help you transition from a boss to a true leader.

8. Mickey Mikitani is the CEO of Rakuten. He constantly shares his expertise in managing a global player in e-commerce platforms.

9. Andreas von der Heydt was the head of Amazon’s Kindle Content and now the Director of Talent Acquisition. He has extensive experience in management, branding, and marketing.

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Productivity Experts

By maximizing your productivity, you can win in all aspects of life. The following LinkedIn experts will help you win big in your career.

10. Gretchen Rubin is a happiness coach and the bestselling author of the The Happiness Project.

11. Carson Tate is the founder of Working Simply. She advises us to include play in our schedules.

12. Greg Mckeown is an essentialist. Part of being an essentialist is saying no to many things so that we can focus on the things that matter.

13. Brian de Haaff, CEO of Aha! Labs Inc. provides strategies on how to be productive and happy at work at the same time.

Marketing Experts

14. Sujan Patel is VP of Marketing at When I Work, an employee scheduling software. He is an expert in content marketing and he even shares his ideas on content marketing in 2020.

15. Megan Berry is the Head of Product Development at Rebelmouse, a content marketing and AlwaysOn powerhouse.

16. Sean Gardner will help you navigate the social media landscape. This includes how to use different platforms to help accelerate your career. He is also the bestselling author of The Road to Social Media Success.

17. Christel Quek is an digital and marketing expert. She is the VP of South East Asia at Brandwatch. Their products help businesses utilize social media data to make better business decisions.

18. Jeff Bullas is a digital marketing expert. His blog has over 4 million readers annually.

19. Michael Stelzer is the CEO and Founder of social media powerhouse site, Social Media Examiner.

20. If you’re looking for inbound and content marketing expertise, follow Dharmesh Shah, Founder and CTO of Hubspot.

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21. David Edelman is a McKinsey partner and is at the helm of the Digital Marketing Strategy Practice Department.

22. Dave Kerpen leads the social media software company Likeable Local. He is the author of Likeable Social Media: How to delight your customers.

23. Clara Shih is the CEO of Hearsay Social and the author of The Facebook Era.

24. Aaron Lee is Grand Master of Customer Delight at Post Planner. He is an excellent resource for everything social media.

25. David Sable is the CEO of Y&R, one of the largest advertising firms in the world.

26. Content marketing trumps traditional marketing these days, and who else better to lead you in this area than Joe Pulizzi, Founder of Content Marketing Institute.

Personal Branding Experts

Part of what we market in our personal career is our brand. When people hear your name, what kind of brand comes into their mind? What traits and qualities do they associate with you?

Here are some personal branding experts from LinkedIn to improve your own brand.

27. Dorie Clark is the author of Stand Out and Reinventing You. He can help you craft the professional image you’ve always wanted.

28. Dan Schawbel is the managing partner of Millennial Branding. If you’re a millennial, Dan is the guy to help you craft your personal brand.

Other Notable Experts to Follow

29. Lisa Gates is the expert to follow if you’re negotiating for higher salaries and promotions.

30. If you’re a Baby Boomer, Marc Miller will help you navigate the continually changing landscape of the workplace.

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31. To avoid getting your resumé moved to the “No” pile, read Paul Freiberger’s excellent advice.

32. James Caan provides insightful ideas on careers in general. He is also a serial entrepreneur.

33. Jeff Haden writes on various topics, such as leadership and management. He is the owner of Blackbird Media.

34. If you’re looking for expert business advice on getting new customers and keeping them, follow Jay Baer.

35. Suzanne Lucas, aka Evil HR Lady, is a great human resources specialist.

36. If you need help in using Twitter to boost your career, Claire Diaz-Ortiz can guide you in the right direction.

37. Ryan Holmes is the CEO of Hootsuite, a social media management tool.

38. Customers are the lifeblood of a business and Colin Shaw focuses on revolutionizing this customer experience.

39. Brian Solis often reflects on the future of business and how technology can disrupt our world.

40. Nancy Lublin provides advice on more lighthearted topics, which are perfect after a long day’s work. She is the CEO behind Dosomething.org, a portal designed for social change; and the founder & CEO of Loris.ai and Crisis Text Line.

41. Katya Andresen provides advice on how to manage your career. She was the CEO of Cricket Media and now responsible for the SVP Card Customer Experience at Capital One.

42. Gallup has created a system to test what your strengths are and how to use them at work. Jim Clifton is the CEO of Gallup.

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43. Adam Grant is a Wharton Professor and the author of Give and Take, which provides advice on why being helpful at work can accelerate your career.

44. Hunter Walk is a partner at Homebrew Venture Capitalist Company and has specialty in product development and management.

45. If you’re running a nonprofit organization, follow Beth Kanter for expert advice on this area.

46. Emotional Intelligence is necessary to succeed in your career, and Daniel Goleman is your expert for that.

47. Rita J. King connects science, technology and business.

48. Tori Worthington Rose is a Creative Director at Mary Beth West Communications, LLC. She has extensive experience in sales and digital media.

49. If you’re looking for some advice on how to use writing and personal content marketing to boost your career, follow Ann Handley.

50. Tim Brown is the CEO at IDEO and shares his insights on Leadership and Creativity.

These are just some of the key thought leaders and movers in various industries. They will provide you with constant inspiration, as well as the willpower to pursue the career that you’ve always wanted. Their stream of expert ideas in their respective fields will help you become well-equipped in your professional pursuits.

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Featured photo credit: LinkedIn Sales Navigator via unsplash.com

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