The Art of Negotiation
1. The Basic Principles
" You never stop going to school in the art of negotiation.
" Negotiating is the ultimate people skill.
" A good deal is a state of mind.
" Never make a decision with your heart.
" Never trust your uneducated gut.
" You need to live and experience the art of negotiation.
" You need a lot of street smarts to become a good negotiator.
" Timing is everything, especially in negotiating.
" Negotiation rests on one little word-trust.
" To negotiate well, you must be a great listener.
" When negotiating you must look at it from the other side's point of view.
" Deal are made between parties who seek mutual advantage, not unilateral victory.
" There is always an etiquatte to deal-making.
" If you expect more you get more.
" When negotiating, never stereo type the other side.
" The world will not stop spinning if you walk away from a deal.
" You will learn lessons from every negotiation experience.
2. The Preparation
" Your goals will enhance your belief system as a negotiator.
" The side that wins is the side that has the most information about its
Be sure to do your home work.
" When plan A doesn't work, be willing to go to plan B.
" When negotiating, your objection is to get concessions from the other side.
" Know how the other side feels about negotiating.
" Give yourself walk away power by developing option before you go into negotiation.
" Make sure that you know why the person wants what they are asking you.
" Don't try to pretend you are knowledgeable in areas that you aren't.
" Don't expect that the right time to buy something is the moment you need something.
" Make sure the person you're dealing with is in a position of authority to sign off on the agreement.
3. The Process
" You need to start out by asking questions, listening and trying to understand the other person.
" Watch others as they negotiate and keep notes.
" You must know everything the other guy knows.
" Write down what the other side say and repeat it to be sure you've got it right.
" Always ask the right question.
" The longer they keep you waiting, the more they want to deal.
" The best way to close any deal is to stretch open your mind.
4. The Strategies & The Tactics
" Real deal-makers know the power of the word "No".
" The single biggest tool in any negotiation is the ability to get up and walk away without a deal.
" When you really want something, learn to comouflage it.
" If you care too much, the price is going to go up.
" You don't want to look too good in a negotiation.
" Be persistent and repeat what you want over and over.
" Ask the other side what is the very best deal they will give you.
" Don't let yourself be bluffed and don't run bluffs either.
" When necessary change the venue by suggesting that you continue the discussion over lunch or dinner.
" Constantly think through the other side's move when you sit down to negotiate.
" Before you take the offer they offer, make the offer you want.
" Power goes to the person who has successfully convinced the other side that they're prepared to walk away.
" Never say yes to the first offer.
" Be sure to flinch whenever you are asked to make a concession.
" Don't be too afraid or too shy to stand up for yourself.