As a small business owner, you probably do a lot of your own negotiating (along with a lot of other things). Here are some tips that could help make you a more effective negotiator – which could mean more dollars flowing to your business.
According to Stephanie Vance, author of “The Influence Game: 50 Insider Tactics from the Washington, D.C., Lobbying World that Will Get You to Yes,” these are some of the tactics that could raise your chances of success:
- Make sure you’re talking with the right people; don’t settle for intermediaries.
- Know what you want – and what the other side wants – and decide on what you absolutely need and what you can live without. And research both your and your opponent’s strengths and weaknesses.
- Remember the Corleone family motto: “This is business, not personal.” Check your emotions at the door.
- Know the details, and back up your points with data.
- Hold back your compromise point and let the other party feel like they won.
Adapted from Ten Ways to Get What You Want at Work at Baseline Magazine.