September 11th, 2019

Seven key skills for successful negotiation

By Marc Wins

December 14, 2017

Negotiation is the key to business success. Successful negotiation involves good

interpersonal and communication skills, used together to bring a desired result. In fact,
negotiation is one of the main qualities employers look for when recruiting staff
nowadays. This is because a good negotiator can close the best deals, leading to
the advancement of an organization. Improved supplier relationships, sustainable
competitive advantage and managing conflicts effectively are all advantages of successful
negotiations.
Some people have the innate abilities to indulge in a fruitful negotiation process and they
have the capacity to bring a positive result no matter how challenging the negotiation
may seem. However, this may not be the case for most employees. The good news is that
negotiation skills can be learnt and practiced for better results. This can be done through
innovative training and development programs. Modern e-learning training solutions such
as scenario—based training videos, simulations and gamification has made the task of
training employees less complex. Let’s take for example, scenario-based training videos:
through such training solutions, employees are able to witness real work situations to
which they can easily relate. This proves to be more engaging and prepares them to face
similar situations in real life. Therefore, they know exactly how to react in challenging
circumstances and also which tactics to use to reach their objectives in a negotiation.
Some of the key skills for a successful negotiation are:

 Preparation

Preparation is responsible for 90% of negotiating success. The more prepared you are
preceding a negotiation, the more likely it is that the result of the negotiation will be
acceptable for all parties involved. The 2 most important things to do during preparation
are: Firstly, make sure to have all the information that you can about the forthcoming
negotiation. Secondly, think about the negotiation process from the beginning to the end
and be fully prepared for any eventuality.
You need to know about the product or service, and the person with whom you will be
negotiating. You obtain this information by choosing good questions to ask that are well
thought out. Remember that the power is always on the side of the person with the best
information.
  Patience

Good negotiators are normally very patient. They focus mainly on getting agreement on
all the parts of the contract that the two parties have in common before they go on
seeking for cordial ways to settle the other issues. Besides, it is important to prepare good
questions to ask to clarify and understand each point. This will help to avoid confusion
later.

 Active Listening

Negotiators have the abilitiy to listen attentively to the other party during the
conversation. Active listening includes the ability to read body language as well as verbal
communication. It is vital to listen to the other party to find areas for compromise during
the meeting. Instead of spending most of the time in negotiation while defending his
viewpoint, the experienced negotiator will spend more time listening to the other party
and find clues for further debate.

 Emotional Control

It is important that a negotiator has the ability to keep his emotions under control during
the negotiation. Negotiating on sensitive issues can be frustrating and allowing emotions
to take control can worsen the situation during the meeting. This will more likely lead to
negative results. For example, while negotiating a good deal with a supplier, the
employee can react angrily if the supplier is being too persistent to maintain high prices.
This should be avoided at all cost and the employee should be advised to keep his calm
during the negotiation process.

 Verbal Communication

Skilled negotiators must be able to communicate clearly and efficiently to the other party
during the negotiation. If the negotiator does not state his case clearly, it can lead to
misunderstanding and an unfavorable result. During a bargaining meeting, an effective
negotiator must have the skills and tact to clearly point out his desired outcome as well as
his logical perception.

 Problem Solving

Employees with good negotiation skills have the capability to find a variety of solutions
to problems. Instead of concentrating on his desired goal for the negotiation, the
individual with skills can focus on problem-solving, which may lead to a breakdown in
communication and therefore benefit both sides of the issue.
  Ethics and Reliability

Ethical standards and reliability in a skilled negotiator stimulate a trust for effective
negotiation to take place. Both parties in a negotiation must trust that the other side will
keep up with promises and agreements. A negotiator must have the skills to implement
his promises after bargaining ends.

Conclusion
Being a good negotiator requires a set of skills and knowledge to make sure that the
required objectives are reached. To make this happen, it is essential to provide
an effective training and development program to employees, allowing them to learn
about the essence of negotiation and the steps to follow. This is likely to lead to increased
competitive advantage and profitability.
https://www.procurement-academy.com/7-key-skills-successful-negotiation/

https://www.youtube.com/watch?v=EfYEY8ltmIM
English Business - Negotiations - Conversation Practice

https://www.youtube.com/watch?v=Hs9oQ8Tpsyo
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