Why aren't you getting what you want? You deserve the best right? Life is a constant non-stop negotiation. Whether it's purchasing a new vehicle, asking for a higher raise, or at the bargaining table with your realtor trying to have an offer swayed in your favor, we are constantly bargaining! Let's get down to business so that you can walk away happy with a couple of my back pocket techniques that will benefit you enormously!
Secret #1: Listening
Listening? Yes, listening is one of the most important tools to a successful deal. Understanding what the other party wants and expects is half of the battle. Take this time to understand concerns, wants, and objectives. Take notes as they speak so that every motivator is not missed.
Secret #2: Remain Silent
Silence is golden! Remain silent until it’s your time to speak. By doing so, this weapon of strategy can make the other party second guess there offer, even throw out the first number on the table.
Example 1:, "Jenny, what are you looking for in terms of a salary with us?” Jenny should reply with a 5-7 second pause and then proceed with, “what are you considering” or “based on what I’m bringing to your company of XYZ, what would you consider as a well suited figure?” What you’ve done is utilize what I like to call a “power pause”. This moment of silence is where the mind likes to guess and speculate. You remain in control, you have the power.
Continued: “Jenny, we'd like to offer a starting base pay of $75,000 per year. How does that sound? Most would jump up and say, "Well, I was thinking more in the lines of XYZ as a salary." This tactic is a big no-no because you're position is reactive rather than open ended and proactive. Once the offer is given, remain silent! Learn to relax and know when to execute your well repaired response. Pausing for 5-7 seconds, demonstrates that you're not desperate and not in a rush. You're a thinker, so think! You’re the one in control! Be methodical. At this point, the offering party is either thinking one of two things, either that you're considering or declining. Sometimes, the party will even go a little further and add something else to the offer before you respond.
Secret #3: Take a Walk!
Be prepared to walk away from the negotiating table if you need a moment to think things over. Be respectful and ask if you may have a moment to consider their proposal. Walking away is a power move that demonstrates s position of power to consider the offer or not. The other party will ponder while you’re away and it will certainly keep them at the edge waiting. If you want to sensationalize the moment, take out your cell phone just before you walk out to door. Why? It shows that you are communicating outside of closed doors, beyond the boundaries, outside of anyone else's power and control (if law permits). Spend several minutes, maybe 3-5 minutes, but don’t keep your party waiting for too long. Don’t be afraid to use this tactic again. Some negotiations can take minutes, hours, days, even months, and beyond. You’re not in a rush, so relax and stay cool…Continue reading on…
Secret 4: Present the Data
Facts are money makers. Provide the data that supports your position and come with a justified reason to leverage your position in the game.
Secret 5: Use Motivators
Remember tip #1? I hope so! This is where you’re going to utilize those key motivators so that they sway in your direction. In other words, what have you identified that will enable you to move towards the goals? Be prepared to play the give and take game.
For example, the hiring manager says, “Well, Tom, I can’t meet you at your asking salary price of $95,000, however I like what you can bring to the table and we want you to work with us.” Boom! That’s your motivator! The hiring manager likes what you’re bringing to the table. Your reply should be something in the lines of, “If you give me six months to demonstrate my ability to outperform your expectations on the job, would you be willing to revisit my salary again?” Of course they will say yes! Why would they want all goals met? This is a give and take method. You are motivating the hiring manager to give you a raise for the exchange of high performance. If agreed, make sure that you set a target goal from the manager, get everything in writing, and blow that goal OUT OF THE WATER!
Another example, “Our dealership can only sell this vehicle for XYZ”. Your response should be, “Not only will I will tell all of my friends to buy a car here with you, but I will meet you in the middle at ABC. Your flexibility today will bring more future profit by doing business with me. As a matter of fact, I might be able to spread the word to some friends on social media for you. How does that sound? Can we at least meet half way on our figure?” What you’ve done here is created a motivator. Why would you do that? Well again, it’s a give and take game. Sometimes, you have to create a need, a motivator in this case to get the other party moving!
Secret 6: Mirror Your Party – Dealing with Strangers and Unfamiliar People
Going to the negotiating table can be a daunting task. The last thing that people want is unfamiliarity with another. This is why you must mirror the other party in a manner that allows them to feel comfortable with you. Going back to my cold calling days in sales, I created a $20K+ net commission pipeline during my first month on the floor, all caused by my willingness mirror the other party when conversing.
Here's a few things to consider when mirroring: The accent of the person speaking, the pace, the style, the urgency, etc. For example, if the party is elderly and he/she speaks slower, louder, etc., speak as they speak. If the person is younger and speaks faster, speak as they speak. This tactic may not be suitable for everyone, but it's effective in most cases. Just remember, don’t go overboard. We’re talking about a slight modification to give the other party small subliminal comfort.
Secret 7: Don’t Take Anything Personal
The last thing that you’d want to do is allow emotions to crush your objective. Remember, you’re in a battle, not of emotion, but of positioning to get as close to your target objective as possible. You should also put yourself in the other party’s position and consider what they may or may not be thinking. If you feel that the negotiation is overwhelming and frustrating, this would be the time to use secret #3! Lastly, never display emotion until an agreement has been made or unless topics are discussed that are outside of the negotiation.
Please feel free to connect with me and/or leave questions/comments below!
All the Best in Success,
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