- Poor knowledge of the situation.
Good opportunities are missed when you are unprepared. It’s hard to get what you want if you don’t know what it is or how to get it. When it comes to doing business, the best negotiators know what they want at every step and certainly know all about the bargaining at hand.
It is as simple as ignoring certain details and fine points that one can endanger the success of the negotiation irremediably, causing the business a more or less significant damage.
Keep your eye trained on the end result and come to the negotiation session planned and prepared!
- Failure to exploit strengths.
We all have our strengths and weaknesses, and each of us varies in how good we are in one area over another.
During the negotiation it is very important and beneficial to identify and fully exploit the strong points of the company, in order to adopt the required sales techniques that help generate tangible profits. Not being able to succeed in this, means making your commercial approach sound weak and potentially nonperforming.
- Talking too much and listening too little.
One of the secrets to successful negotiating is to take the ego out of the equation. There is no doubt about it: better negotiators know that to get the desired results they must focus more on the other side, than they do on themselves. Instead of telling other people what to think, they ask questions, evaluate, and really listen.
Just like in a game of chess, silence and reflection allow you to analyze the situation and understand how to best proceed in view of the next move, avoiding the negative repercussions caused by carelessness or excessive haste. Therefore always remember, “Be wise, not smart”.
4. Thinking that the first offer is not the right one.
Whether it be for direct sales or B2B, anyone doing business must bet heavily on their first offer, justifying it with well-thought-out reasoning and aligning it as much as possible to customer needs: if the business owner does not believe in it, the consumer most definitely won’t either.
Keep these tips in mind to increase your chances of success!
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Date of Publication: 14 March, 2016
For every business opportunity there are thousands of negotiation techniques. That being said, not every technique can be as effective and achieve the desired results. You’d be surprised how often smart people make mistakes and how easy it is to lose focus by trying to prove a point rather than listening to the other side and concentrating on the negotiation at hand. Here you are 4 of the most common mistakes that must be avoided at all times, in order to obtain a successful negotiation and come out as a winner.
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