The Art of Negotiation | TO THE NEW Blog

▤ Summary

Have you ever been in a situation where your emotions influenced your decision, and later you realized that it wasn’t the conclusion you wanted? Let’s deep dive and understand why Negotiation is an important skillset, needed by everyone which can help us prevent landing in the situation you thought of while reading the above question. Negotiation is a skill needed by every one of us working in IT or non-IT, on a personal or professional front. • Collaborative (Diplomatic) • When to Use: • None A primary style you should use for most goals in business-to-business negotiations • None When you need to understand the feelings and deeper interests or motivations of all negotiators • Compromising (Henry Clay) • When to Use: • None You are dealing with someone who you trust • None you have nothing left to offer, and this is the only way to seal the deal • Competing (Dictator) • When to Use: • None You are dealing with someone who you trust • Accomodating (Benjamin Franklin) • When to Use: • None You or your company are at fault i.e you are in a weak position • Avoiding (Kamikaze) • When to Use: • None The value of investing time to resolve the conflict outweighs the benefit • Dont open first – It is observed that whenever you open first in any negotiation, it ends up in a bargain and MPP is not exposed • Ask for more – Always ask for more than you expect and increases your chances of expanding the pie as the opponent ends up giving equal/more than your actual expectations • Bracketing and Silent close – We don’t have to come up with our actual expectations and make the opponent come up with a better deal • Reluctant Buyer – Show reluctance while getting an offer, which makes the opponent bring down the deal to an unexpectedly better price • Let me talk to the Manager – By leaving the decision up to a fictitious or unapproachable higher entity, you can strengthen your position allowing you to put pressure on the opponent in a non-confrontational way. • Challenging the bluff – Radiates confidence in your offering and puts you in a higher position • Tit for tat – When you know you hold the authority to get the deal in favor of the opponent, by yourself or by the agreement of a higher authority, you can ask for something in return for the same.

▦ Linked Companies

IntelliGrape Software

$1M to $5M