The Importance of Developing Negotiation Skills

The Importance of Developing Negotiation Skills

Posted by UNC Executive Development on Aug 9, 2016 11:10:29 AM

When you hear the word “negotiation” does it make you want to drop everything and run in fear? You may not realize that you negotiate with others every day. From determining who will do what at work, to where you might go for lunch, to what your schedule will be, you are negotiating all of these details. This is why having effective negotiation skills is one of the most important business skills you should be working on developing.

 

 

Negotiating is not about winning, losing, or getting the upper-hand on the other side, it’s about your relationship with another party or person. HubSpot recently published six common mistakes people make when negotiating. They are:

Mistake 1: Don’t Prepare

Understand your goals and what you want to get out of the negotiation. It’s a lot easier to think of this beforehand rather than in the middle of the negotiation process.

Mistake 2: Immediately Get Down to Business

Build some rapport first. No need to rush into things in an already tense situation.

Mistake 3: Pay No Attention to Non-Verbal Cues

Your body language says a lot about you. Does it match your words? Does it tell a different story?

Mistake 4: Dominate the Conversation

Make it feel like you are calm and in control. The less talking you do the better. This means the other party is doing most of the talking.

Mistake 5: Refuse to Compromise

The other party should not be looked at as an opponent. Most times they are a buyer that you want to build a relationship with. Don’t refuse to compromise or the relationship might not be what you hoped for.

Mistake 6: Expect the Buyer to Take the Next Steps

You have the momentum now. Don’t sit back and expect the other party to take the next steps.

Read the full article from HubSpot here.

Recognizing the importance of developing negotiation skills, UNC Executive Development has developed a workshop on the topic. During this two-day seminar, you will learn to successfully use effective negotiation techniques in any situation. This negotiation skills program will allow you to enhance your current strengths while practicing your negotiation skills. Faculty leaders will help you tackle difficult negotiation issues and will arm you with negotiation techniques such as how to defend yourself against probing questions and how to know when and if making the first offer is appropriate.