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One Simple Negotiation Skills Technique That Will Immediately Produce Improved Negotiation Results
There is one simple negotiation skills method that can be implemented by anyone to immediately and positively impact their negotiation results. This method is to constantly (yes always) exaggerate your expectations at the negotiation table.
Henry Kissinger, the famous American Secretary of State said: Effectiveness at the conference table depends upon overstating one's demands, a famous quote referred to in both negotiation training and sales training courses. There are numerous reasons why it is key for you to start with high aspirations when you participate in negotiations:
1. Research has proven that high objectives will regularly outperform low aspirations. Many refer to the fact that if you want to hit the moon, you must aim for the stars. You will be astounded by the effectiveness of something so simple. Many of my customers are very pleased when they understand that they can realise more from their deals by simply requesting more!
2. Having high aspirations will let you to 'anchor' the negotiation around your aspirations. It is much better 'anchoring' negotiations around your aspirational level rather than your absolute minimum acceptable rate. Having high aspirations convey confidence and helps to emphasize the quality of your recommendations.
3. Perhaps most importantly, having high objectives will present you with the opportunity to be accommodating in your negotiations. Research tells us that almost everybody equate their accomplishments at the negotiation table with their opportunity to get dispensations from their counterparty. The reality is that your counterparty will have no motivation to be accommodating or to make allowances to you if you are not willing and able to make allowances to them.
Therefore, if you do not permit yourself some 'room to move' then you risk coming across to your counterparty as someone who is inflexible and unprepared to make allowances. Please note that I am NOT proposing that you open your negotiations with extreme and unworkable demands. Your opening offer must show a level that is realistic and that you are able to justify using a solid, factual argument. It can be high risk using extreme requirements and offers as the other side may well decide not to deal with you at all.
I once worked with a large multi-national organisation who used a tactic of 'the price we demand is the only price we sell at'. As they are a well established and old company in the USA, most of their clients have come to know them as the type of business that has a traditional method to business and have learned to live with this approach. However, when using this approach in Poland, the company realised that they were being perceived as being uncompromising by the other side because they would never budge on their prices.
In Polish business culture this approach was not acceptable and they found it exceedingly difficult to conclude transactions in the Polish market place. The simple solution was for them to ask for a little more than their regular prices so that they could allow clients the opportunity to negotiate with them and to gain some allowances from them. This method proved to be very successful for them.
Of course, keep in mind that 9 out of 10 times your counterparty's first offer will be an aspirational goal, not their minimum expected outcome. This means that you should never agree to any first proposal that is made - you must always negotiate!
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