21:48
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Author: Mubashir Saeed
It's all just about deep and wide rule. The wider the situation gets, the deeper you have to go. It's a universally acclaimed fact that higher risks involve higher negotiations and for these kinds of negotiations you have to cover up extra miles to be there where you want yourself to be. No matter what situation you are in and what sort of result you expect, either a win-win or a win-lose, you have to have something really strong under your jacket to save you at any point. Again it depends on the need as well that how much you are ready to pay for it and how far you can go to take it.
It's such a wide topic that even a lifetime won't be enough to cover up everything in it but I would like to share a few key points here to add value to the concerned issue.
First and the most important thing that can make a negotiation easy to deal with is to find the need of the other party. Don't get yourself trapped by the apparent requirements. To ensure a successful deal, you have to make a comprehensive homeworking structure, vigilance, capacity and capability in yourself. The more you would know about the other party, the easier will it get for you to identify the need of the other side. For instance for someone paying the quoted money won't be an issue if someone would give him/her more credit time to pay back. This extended time is the need of the buyer. Apparently we would consider that the product is the right need but actually time is the need. If you could provide the best solution by providing the best product with an extension in the payment timeframe, you would never lose the deal. 90% of the disclosures are due to the misconception about the need. We get trapped by the apparent requirements and the de tracking queries and fail to get to the actual need. And even after losing the deal we still doesn't get the right reason that why did we lose. That is because we were unaware of the actual need and we failed to figure it out as well. We focused on exchange and ignored the core need.
Secondly If, let me be very precise, you have somehow found the right need, then extend your knowledge about the better alternatives the other party can have. There are two ways to deal with this. One is to diminish all the other options which unfortunately you can't; I mean you can't buy all of your competitors. The second is to come up with the best solution which would overweigh the influence of the better alternatives from your side. Cutting it short, try to obsolete the other party's choices.
Thirdly, when you have made up till here, bring the other party in the zone of agreement by limiting the time over it. You can take enough time to make the first offer but second offer should always be your last choice and never let the other party give you time to make it. Never try to extend the time. Never get yourself trapped by the other part with the personal hitting. They would point their arguments like an arrow on your personality but you have to stick with the situation. Don't get yourself stuck, and give a tough time to the other party by de tracking them from the hitting arguments. This is where you can turn the table. Try to make them see what you want them to see. Once you have done this, you will get through the deal with gaining maximum out of it.
At the end, keep your mind fresh, strong, open and relaxed. There is always a way. Believe in this. Because if you are a closer, you would never know when could you be in a negotiating situation. Keep yourself open to every possibility and be smart enough to turn the table. Always remember one thing, an angry bull will always look at the red cape out of the man with the sword so don't just see what other want you to see. Go beyond that and you will get what you want.
It's all just about deep and wide rule. The wider the situation gets, the deeper you have to go. It's a universally acclaimed fact that higher risks involve higher negotiations and for these kinds of negotiations you have to cover up extra miles to be there where you want yourself to be. No matter what situation you are in and what sort of result you expect, either a win-win or a win-lose, you have to have something really strong under your jacket to save you at any point. Again it depends on the need as well that how much you are ready to pay for it and how far you can go to take it.
It's such a wide topic that even a lifetime won't be enough to cover up everything in it but I would like to share a few key points here to add value to the concerned issue.
First and the most important thing that can make a negotiation easy to deal with is to find the need of the other party. Don't get yourself trapped by the apparent requirements. To ensure a successful deal, you have to make a comprehensive homeworking structure, vigilance, capacity and capability in yourself. The more you would know about the other party, the easier will it get for you to identify the need of the other side. For instance for someone paying the quoted money won't be an issue if someone would give him/her more credit time to pay back. This extended time is the need of the buyer. Apparently we would consider that the product is the right need but actually time is the need. If you could provide the best solution by providing the best product with an extension in the payment timeframe, you would never lose the deal. 90% of the disclosures are due to the misconception about the need. We get trapped by the apparent requirements and the de tracking queries and fail to get to the actual need. And even after losing the deal we still doesn't get the right reason that why did we lose. That is because we were unaware of the actual need and we failed to figure it out as well. We focused on exchange and ignored the core need.
Secondly If, let me be very precise, you have somehow found the right need, then extend your knowledge about the better alternatives the other party can have. There are two ways to deal with this. One is to diminish all the other options which unfortunately you can't; I mean you can't buy all of your competitors. The second is to come up with the best solution which would overweigh the influence of the better alternatives from your side. Cutting it short, try to obsolete the other party's choices.
Thirdly, when you have made up till here, bring the other party in the zone of agreement by limiting the time over it. You can take enough time to make the first offer but second offer should always be your last choice and never let the other party give you time to make it. Never try to extend the time. Never get yourself trapped by the other part with the personal hitting. They would point their arguments like an arrow on your personality but you have to stick with the situation. Don't get yourself stuck, and give a tough time to the other party by de tracking them from the hitting arguments. This is where you can turn the table. Try to make them see what you want them to see. Once you have done this, you will get through the deal with gaining maximum out of it.
At the end, keep your mind fresh, strong, open and relaxed. There is always a way. Believe in this. Because if you are a closer, you would never know when could you be in a negotiating situation. Keep yourself open to every possibility and be smart enough to turn the table. Always remember one thing, an angry bull will always look at the red cape out of the man with the sword so don't just see what other want you to see. Go beyond that and you will get what you want.
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