Learning the Basics of Business Negotiation

Business owners wear many different hats in the course of running their companies. During a typical day at the office, you may need to deal with buying commodities and selling products, interviewing potential new employees and reviewing contracts. One of the main skills that you will want to develop as a business owner that applies to many areas of your business are negotiation skills. Understanding the basics of of this valuable tool will help your business to succeed. Although they are often relegated to professional lawyers and arbiters, in most ordinary business circumstances it is more cost effective to receive training through appropriate negotiation courses, and negotiate terms suitable for your company yourself.

Learning effective negotiation begins with an assessment of where your company’s strengths and weaknesses lie in terms of negotiation skills and outcomes. The best types of negotiation training will take this type of information into account and create a specialized training seminar that is compatible with your company’s business needs. A superior business negotiation skills trainer will also need to determine what level of expertise you wish to achieve from your training, and will suit the training to those requirements.

An effective training seminar should offer a hands-on approach for the learners. This is available when an experienced trainer has you work through scenarios you are likely to face in real-world negotiation situations, and gives you the tools and strategies you need to successfully negotiate an agreeable deal. These types of low-stress learning situations are especially helpful in learning sales negotiation skills, so that while you are getting up to speed on sales negotiation you are not hurting your company’s bottom line.

As you can see, business negotiation is a process, and negotiation skills can be learned to improve the relationships you have with your clients and create an environment where your business deal will succeed. While you are working at acquiring new business skills, you will want to have contact with your trainer, who can answer questions, provide guidance and assist you in achieving a new level of negotiation acumen.

If there are several employees in your company who work in the area of negotiations, you may wish to have a negotiations consultant provide a group training session. This is valuable because employees can not only learn through personal experience, but can learn through the experiences of others, providing them with a multi-faceted educational environment, and a greater understanding of the skills being learned. For those who require specializing negotiations training, one-on-one coaching is often the most effective ways to rapidly learn new skills and achieve success in business negotiations. Business negotiation can be learned and skills improved with the guidance of expert negotiations consultants.

The Sales Negotiation Process

Your negotiation skill is vital for the negotiation process

Regardless of what you are selling or who your customer is, your negotiation skill is what allows both you and your customer to succeed in the end.  A strategy is only as effective as the techniques used.  You should view your negotiation skill as the tools for implementing your sales strategy.  The following are some helpful tips on how to succeed at sales negotiations:

Be prepared. Effective sales negotiations begin before you come to the bargaining table.  This means doing your research and planning ahead of time.  You need to consider your customer’s situation and ask yourself what they really need from the deal as well as list what you are willing to compromise and what you cannot. Being prepared also allows you to remain relaxed throughout the negotiation. 

Set Standards. In order to reach a mutual agreement, there are rules that have to be followed.  Setting some guidelines before the negotiation will ensure that each party works under the same standards. For example, you can approach your customer with your competitor’s price and use what they have paid in the past as a standard. 

Work together.  A good negotiation allows all involved to leave the sale feeling good about their final decision as well as about each other.  By approaching the negotiation with mutual satisfaction in mind, your customer will be a lot easier to work with.  If a customer feels as though they are being taken advantage of, they will become defensive. If they know that you are playing fair then they will most likely do the same.

Finalize and follow through. The point of a sales negotiation is to come out with the best deal for everyone involved so you should ask many questions.  Be sure to address important details and listen to your customer’s concerns.  After you have arrived at a mutually beneficial solution, negotiated and signed an agreement, you need to follow through.  This involves doing what you said that you would do.  For example if you promised a certain delivery date, make sure your product or service is delivered by that date. If something unexpected arises that will affect the delivery date, make sure that you contact your customer and make other arrangements.

Your level of negotiation skill can determine whether you are able to close a sale as well as how profitable the sales transaction will be. An important element of effective negotiation is being able to ensure that everyone can leave satisfied rather than feeling as if they have been short changed. In order to prevent a situation like this, you need to have a good negotiation strategy.

Achieve a Smooth Presentation Style – 5 Techniques For Effective Presenters

In any good presentation you should be prepared to move from one of your main presentation points to another smoothly and neatly. And there’s the challenge. Your audience doesn’t have the benefit of headings, sub-headings or paragraphs to guide them. Their understanding of your presentation has to be guided by you with clear organization and speech. Without well-delivered transitions from one part of your speech to another, your presentation will appear jumpy at best, or disorganized at worst. To help you, there are five simple techniques that you can use.

  1. Pauses. These are the fundamental punctuation marks of your presentation. Short pauses, medium pauses and long pauses equate to commas, periods (full stops), and paragraphs. When you use them well your audience understands the transition from one point to another.
  2. Emphasis. When you emphasize a word or a sentence you signal a transition from one part of your presentation to another; from one point to its successor.
  3. Lists. A listing of a few points can be a most effective way to move from one section of your presentation to another. You can outline the list briefly and then you can address each of the list points in turn. Each section is neatly partitioned by its place in the list. Do remember to take care, though, with PowerPoint bullet lists — they should not be used too liberally.
  4. Repetition. When you repeat a word or a sentence you add emphasis to its position in your speech. You signal its importance for your audience and you manage the progression from one point to the other.
  5. Questions. You should try to use a rhetorical question to mark a transition in your presentation. You might begin your presentation with a brief outline of your subject or its context. And you might then follow with a rhetorical question or questions that get to the critical substance that you want to address. Your answers to your own questions add up to the main points of your presentation.

When you focus on the key transition from one section of your presentation to the next you can achieve a smooth delivery style. Your audience will appreciate the effort that you take in marking out the important points, signposting your argument and signaling the key stages.