1. Don’t negotiate
You may surprise to hear that while negotiation you should reminder in your mind this word “don’t negotiate”. Then what should you do? You should try to achieve your objectives that you’ve prepared before start negotiation. These thumb rules proven successfully for effective negotiation.
If you start negotiation it may sound like bargaining but that’s the key to failure. But if you think you are not negotiating rather both of you are going to settle an issue that’s a better chance of success. Effective negotiation ability depends upon to following certain rules.
2. Don’t negotiate with yourself
You are prepared for negotiation. You have your objective and plan. So how you’ll make effective the negotiation by applying your skills? The answer is after start negotiation you can’t negotiate with yourself. If you do that you’ll loose.
I’ll give you an example. If you have the plan to sell your product 100$ and you get an offer of 50$. Don’t start negotiating with yourself that you should reduce the price or something like that. You can’t be silent during the negotiation period. So you don’t reduce the price and continue negotiation.
3. Never accept the 1st offer
If you accept the 1st offer, it is obvious that you’ll loose. You’ve the opportunity to get a better offer. So don’t ruin it. Your partner will try to give the lowest offer to see how you react. But after a successful negotiation, that price will not stay. So you’ll get a better offer.
4. Never make the 1st offer
Never make the first offer. You should know what’s in the mind of a player. That’s why you should wait and continue till to receive the final offer. You’ll get a better offer, that’s for sure. So for effective negotiation skill you should remind this fact.
5. Listen more and talk less
You have to be a good listener during negotiation whatever the result you are expecting. It can’t be always win-lose situation. But if you follow this rule, you are assured that you’ll avoid lose-win situation. You should accept the flow of talks and speak less but be specific only with your objectives.
6. Watch out for the “salami” effects
You’ll find a good result if you apply “salami tactics“and that’s why you should wait and see the effects. It’s like a mind game so you’ve to be patient. If there’s a long-term contract to be held then you should negotiate by slicing the objectives and what you are thinking and prepared for. It’s not like that you are defeating your opponents, better it can be described as to take some advantages and watch the effects.
7. No free gifts
Never give anything free. Why should you do that? The other side may not expect this thing ever. So you are loosing something in this way. So for effective negotiation skills to be practiced just remember this in mind.
8. Avoid the rookies regret
You probably know what does it mean already. Don’t do anything so that you have to regret that.
9. Never make a quick deal
You are in a stage of making a perfect deal. So it’s not wise to make a quick deal. As long as you’ve overcome the critical offers until satisfied you don’t make the deal. Remember, you have goals that need to be achieved at least near to it. So for negotiation, it’s not effective to make a quick deal.
10. Never disclose your bottom line
Of course, you have a bottom line but you should now disclose it to opponents. They may not know it. So there’s a chance to get a high reward until you let them know your weakness. Most of the time it does not go up to bottom level, before that it may conclude. So you can win by following these effective negotiation rules.