Negotiating can be highly frustrating, but it is an important business skills to have.
Psychology is a good place to look when studying successful negotiation tactics and here are a few usfeul ones.
- Start Off On A Good Note
The Journal of Applied Sciences has shown that the first few minutes of a negotiation sets the direction for the overall debate in many cases.
You must focus on “conversational engagement, prosodic emphasis (vocal mirroring and emotional copying of your opponent)” to win.
At the start of the negotiation, you want to build trust and likability. You also want to set the stage for an open discussion.
- Make Your Arguments First
Don’t let your opponent kick-off discussions.
Always put your argument forth first to ensure everything revolves around your wanted outcome.
According to a study by the Harvard Business School, doing this will allow you to make your argument the anchor of overall negotiations. All discussions are typically around the initial anchor.
- Your Start Should Always be High
Almost no negotiations will end with a party taking the original settlement.
In addition to starting first to set the anchor, you also want to present an anchor/offer that is relatively higher than what you’d be comfortable with actually taking.
Start high and you will end high. Start low and you will end low.
- Keep Yourself Amped
Do some exercise and have some caffeine before entering any negotiation situation.
You want to feel sharp, alive, and powerful when dealing with such intense situations.
Additionally, you want your opponent to know that you are not going to let down easily. The European Journal of Social Psychology published a study where researchers stated, “attitudes formed after caffeine consumption resisted counter-persuasion.”
Caffeine and exercise will make you more dedicated to winning, and give you a better ability to do so.
- Keep the Other Party Time Conscious
If an opponent thinks they will run out of time and be stuck with a deal that is disadvantageous for them, they will be more willing to negotiate a deal that is beneficial for you.
If you present the possibility that your ‘product’ is about to sell-out, then your opponent will be more likely to buy it.
So offer a deal you want the opponent to take, and then convince them it is about to disappear to get them to accept it.
- Data is Your Friend
The more information and statistics you have to back up your offer, the better you can convince your opponent to take a deal.
In the short time you have to deal with negotiations, you should reverse the rule of quality over quantity.
Doing this will make the opponent more open to persuasion and help them to lean toward an outcome that will be beneficial to you.