Ten tips for anyone who ever has to negotiate anything. That means all of us.
- Practise negotiating. Learn from children - they compensate for their powerless state by honing their negotiation skills.
- Practise your negotiation skills every time you buy something. You will never get a discount if you don't ask. You will nearly always get a discount if you do. Make it your mission never to pay the asking price.
- Plan important negotiations as you would plan a battle. Choose the time and place, choose your allies, plan your opening, plan your end game. Go in armed with the facts and knowing what you want to achieve.
- Make a list of your "Yields" and "Shields".
- "Shields" are things you won't give up during the negotiation. For example, if you're selling a house, set your minimum selling price and don't be persuaded to change your decision in the heat of the moment. You advertised the house at £200k but your shield price is £180k and you won't accept less. You shield it at all costs.
- "Yields" are concessions you are prepared to make during the negotiation. For example, you may be prepared to include the carpets in any deal to sell your house.
- Never yield anything unless the person you are negotiating with also yields something. Give nothing away for free. If you are a seller and your buyer wants a 2% discount, you can agree if it's on your yield list, but get something back. For example, you could agree so long as your buyer agrees to pay cash in advance.
- Try to find out what is on your opponent's Yield/Shield list. Unguarded comments and body language can give away plenty if you pay attention.
- Raise the bar. Ask for the earth and you won't get it, but you'll get more than someone who asks for nothing. Ask for a 50% discount then settle at 10%. If you start at 10% you'll settle at less.
- Have fun. Business is a game and negotiation is a key business skill.
The author gratefully acknowledges the negotiation skills training he received from Bill Garcia.
See www.negotiationtraining.com for details of Bill's organisation.
Michael Alec Bryant
21st May 2007
