EPC Professional | Estimation, Sales, Contracts & Commercial, Tendering SMS | L&T | PAHARPUR | McNALLY BHARAT
Negotiation is a life skill. Don't shy away from advocating for yourselves. Happy to share the key takeaways from my latest learning from an online course: 1. Don’t fear the ‘No’ - It's often a 'definite maybe’ for a negotiation. 2. Define Your Goals and Limits - Set your Least Acceptable Limit and Maximum Desired position. Be truthful to yourselves while setting the limits. Least is really the least you can settle down for and the Maximum is what fully satisfies you. 3. Preparation is Half the Battle - Research and planning are your secret weapons. 4. Communicate and Learn - Listen actively, ask open ended questions, explore options, keep your response clear and concise. 5. Concessions and Trade-offs - Make concessions strategically to move closer to an agreement. 6. Emotions Matter - Recognize and manage emotions, empathize with counterparts, and control your own (fear/tensions). 7. Buy time - Request breaks when needed and explore opportunities for further discussion. Its never ‘take it or leave it’ until you really want to walk away. 8. Closing the Deal - Know when and how to close the deal, formalize agreements, shake hands and leave. Don’t stick around and stretch the discussion or express how grateful / happy you are with the outcome. It makes the counterpart feel of not achieving the full potential out of the negotiation. 9. Stay Reasonable and Ethical - Maintain ethical behavior and integrity throughout the process towards building trust and long-term relationships. These negotiation principles are not just for business; they're skills for life. Don't fear negotiation; embrace it! #NegotiationSkills #LifeSkills #EffectiveCommunication #EthicalNegotiation