Listed below are some mistakes while making negotiations...
Mistake 1
One needs to prepare fully and equip himself well for what he is looking for while negotiating. For this arguments must be prepared and practiced carefully. Once, a person is fully equipped, his confidence is high which plays a key role in negotiations. Remember, once you are done with negotiations, it is practically impossible for you to get your new demands accepted.
Mistake 2
Before going for negotiations you must know the demands of other party and their aims establish yourself socially and try to build a relationship with other party. This could be done by some general talks. This might result in boosting up the trust level. You may foresee the goals and objectives and even reservations of others.
Mistake 3
While going for a negotiation, you must find yourself under huge pressure to get the best deal for your own-self or your organization. People are often seem scared of using wrong words while on the other hand some people find it quite embarrassing to reject the proposals of opponents. It is a common problem for those managers who lead by a consensual manner rather than being directive.
These all fears could be overcome by focusing on a difference between negotiation and augmenting. In negotiations, one has to agree on some point of mutual benefit.
Mistake 4
A successful person is the one who is a good listener. One has to be a good listener to make him successful. One who talks a lot and ignores what others are trying to say can fail in reaching an agreement.
Mistake 5
Best alternative to a negotiated agreement abbreviated as BANTA. In negotiations you must keep in mind the goals and have to decide the best possible alternatives even before going into the process of negotiations.
Mistake 6
Be careful about what negotiations are heading to but do not create a hype, this might result in coming up to a bad or wrong decision. Keep a strong hold of your nerves as well as emotions.
Sometimes turning your back on the negotiations makes you stronger in the process.
Mistake 7
While in negotiation, nothing is impossible and it pays to take your context into account. You will find many alternative options once you make sure that everything is negotiable.
Mistake 8
Money is often a key aspect in negotiations but if you want to reduce the cost or protect it forcefully, you are either putting yourself or other party in a corner. Give importance to price but do not make it an only aspect of a deal.
Mistake 9
A most successful and effective negotiation is where both parties feel like they have gained something. A good deal is therefore a one in which both parties leave the table happily and respect the benefits of one another.
Mistake 10
When you use an ultimatum to other party like saying 'my last words' the chances of negotiations are reduced considerably. Do not get confused about ultimatum and setting of a deadline.
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