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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 March 12, 2019

20 Inspiring Vision Statement Examples (2019 Updated)

20 Inspiring Vision Statement Examples (2019 Updated)

There is normally a lengthy list of things you need to consider when starting a business, and if you don’t manage them properly, your excitement can quickly turn into overwhelm. What can support you to stay inspired and on the right track when starting out? You guessed it: this is your vision statement.

What Is a Vision Statement?

A vision statement is like a photograph of your future business, which gives your business shape and direction.

A vision statement provides the direction and describes what the founder wants the organization to achieve in the future; it’s more about the “what” of a business. It is different from a mission statement, which describes the purpose of an organization and more about the “how” of a business.

If you were to take a photo of your future business now, what would it look like? What do you want your business to be recognized for one day?

You need to have a crystal clear vision when you start out, otherwise you can get easily lost in deciding the best way forward. When you are making strategic decisions for your business and even daily operation decisions, your vision statement will give you the inspiration and targeted direction you need.

The Importance of a Vision Statement

Without a vision statement, your business will lack motivation to keep going.

If you don’t aim for anything, you might not hit anything. The more specific and clear you are, the better your chances are at seeing your vision turn into reality.

The importance of a vision statement cannot be overlooked; not only does it provide long term direction and guidance, but it also gives you the inspiration and the necessary energy to keep going when you feel lost.

Always keep your vision statement alive by revisiting it regularly and communicating your vision with other members of the team, to inspire and motivate them as well.

How to Craft an Inspiring Vision Statement

1. Dream big and use clear language

An inspiring vision statement should inform a clear direction and priorities for the organization, while challenging all the team members to grow together. Based on our expert sources’ advice, we’ve got some great tips for you:

  • Imagine how you want the business to be like in five to ten years.
  • Infuse the business’ values in the statement.
  • Make sure that the statement is implying a clear focus for the business.
  • Write your vision statement in the present tense.
  • Use clear and concise language.
  • Ensure the statement is easily understood.

There are many different types of vision statements and there is no wrong or right way to do it. The most important thing is to resonate with it. It will always inspire you and give you a clear targeted direction.

2. Get inspirations from the successful companies.

Having researched on a number of successful companies’ vision statements, I’ve shortlisted 20 good examples for the new startups:

Short vision statements made up of a few words only:

1. Disney

To make people happy.

2. Oxfam

A just world without poverty.

3. Ikea

To create a better every day life for the many people.

Quantitative statements are based on numbers, quantities:

4. Microsoft

Empower every person and every organization on the planet to achieve more.

    5. Nike

    Bring inspiration and innovation to every athlete* in the world. (*If you have a body, you are an athlete.)

      Qualitative statements are based on qualities that you want to have:

      6. Ford

      People working together as a lean, global enterprise to make people’s lives better through automotive and mobility leadership.

      7. Avon

      To be the company that best understands and satisfies the product, service and self-fulfillment needs of women—globally.

      Competitor based statements – this type is becoming less common, but famous examples are:

      8. Honda – in 1970

      We will destroy Yamaha.

      9. Nike – in 1960s

      Crush Adidas.

        10. Philip Morris – in 1950s

        Knock off RJR as the number one tobacco  company in the world.

        Role Model Vision Statements – using another company as an example:

        11. Stanford University – in the past

        To become the Harvard of the West.

        12. Reach for Success – in the past

        To become the next Tony Robbins in self development.

        Internal Transformations vision statements:

        13. Apple

        To produce high-quality, low cost, easy to use products that incorporate high technology for the individual.

        14. Giro Sport Design

        To make sure that riding is the best part of a great life.

        15. Tesla

        To accelerate the world’s transition to sustainable energy.

        16. Sony

        To be a company that inspires and fulfills your curiosity.

        17. Facebook

        To give people the power to share and make the world more open and connected.

          Longer and more detailed vision statement:

          18. Walmart

          To give customers a wide assortment of their favorite products, Every Day Low Prices, guaranteed satisfaction, friendly service, convenient hours (24 hours, 7 days a week) and a great online shopping experience.

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          19. Coca Cola

          To achieve sustainable growth, we have established a vision with clear goals:

          Profit: Maximizing return to share owners while being mindful of our overall responsibilities.

          People: Being a great place to work where people are inspired to be the best they can be.

          Portfolio: Bringing to the world a portfolio of beverage brands that anticipate and satisfy peoples; desires and needs.

          Partners: Nurturing a winning network of partners and building mutual loyalty.

          Planet: Being a responsible global citizen that makes a difference.

            20. Heinz

            Our VISION, quite simply, is to be: “The World’s Premier Food Company, Offering Nutritious, Superior Tasting Foods To People Everywhere.” Being the premier food company does not mean being the biggest but it does mean being the best in terms of consumer value, customer service, employee talent, and consistent and predictable growth.

            The Bottom Line

            Remember, always keep your vision statement up-to-date to direct your company’s actions.

            Remember, once you reach your vision, it needs to be changed. General Motors overtook Ford as #1 automotive company in the world because once Ford’s goal was reached, they never updated it.

            Keep your vision statement alive and visibly in front of you, revisit it and let it help direct your actions and activities. This is the fun part: this is where you get to dream really big and allow your imagination to fly as high as you want.

            Don’t hold back, let your creative juices flow and give yourself permission to explore what is possible for your business.

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            To your success!

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