How to Negotiate Like a Pro

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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.