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Negotiation Skills 3 Simple Tips On How To Negotiate

Negotiation Skills 3 Simple Tips On How To Negotiate

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How can you improve your negotiation skills even if you hate to negotiate? if you’re afraid to get started with it even if you have no idea where to get started in this video I’m going to share with you three tips that you or anyone for that matter can begin using to improve their negotiation skills today.

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how can you improve your negotiation
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skills even if you hate to negotiate if
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you’re afraid to get started with it
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even if you have no idea where to get
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started
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in this video I’m going to share with
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you three tips that you or anyone for
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that matter can begin using to improve
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their negotiation skills today hey I’m
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Derek Halpern you’re watching social
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triggers the place where you can learn
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to leverage proven psychological
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principles to get more of what you want
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here’s the first tip intimidate the heck
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out of everyone let me just walk into a
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store scream at the top of your lungs
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and demand a better price just kidding
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alright let’s get serious for a second
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here’s the first tip I actually stumbled
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on this while reading to sell us human
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by Dan pink before you sit down to
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negotiate with someone you should take
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the perspective of the person you’re
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negotiating with I’ll explain Columbia
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Business School professor and
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negotiation expert Adam Galinsky
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conducted an experiment where he
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revealed interesting insights behind
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what helps people close a deal here’s
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what went down they got together 154
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undergraduate students and broke them
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into three groups each group was given
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different directions on how to approach
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the sale of a gas station the first
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group the control group was told to just
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negotiate the sale the second group the
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empathy group was told to imagine how
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the other person was feeling and the
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third group the perspective-taking group
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was told to imagine what the other
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person was thinking what happened the
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control group in the empathy group
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struck a deal 39 percent and 54 percent
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of the time respectively but the
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perspective-taking group they struck a
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deal 76 percent of the time oh that
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means when you want to negotiate the
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close of a deal take the perspective of
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the person you’re talking to try to
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think where he’s coming from
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what is going on inside of his head why
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is he looking to make a deal in the
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first place
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can you align his incentives with your
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own tip number two always ask for more
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than you really want let’s say you’re
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negotiating a job offer and you
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really won a $5,000 increase in your
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salary what should you do
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don’t answer $5,000 as for $10,000 and a
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week’s vacation why asking for more than
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you really want gives you the
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opportunity to make sacrifices while
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you’re negotiating after hearing your
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offer the hiring manager is probably
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gonna say you’re asking for too much but
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that’s okay you’ve got $5,000 and a
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week’s vacation worth of wiggle room you
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can sacrifice that extra money in
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vacation time meet the hiring manager in
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the middle and agree on that $5,000
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salary increase which is what you really
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wanted anyway so if you’re negotiating
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your salary a client contract or
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anything really ask for more than you’re
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willing to take get it and the last tip
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when you have to decline an offer never
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take responsibility for the know here’s
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the deal when you take responsibility
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for the know you’re positioning yourself
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as default and the other person can get
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defensive and that’s no good
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however when you pass the blame to
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someone else you take on a different
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role instead of being the enemy you’re
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actually working with the person you’re
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talking to to find a common resolution
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be the good guy let me give you an
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example back when I was 18 I worked for
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this BS sign company and my gig was to
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subcontract out sign installations for
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as cheap as possible every time I would
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call a sign in store they’d almost
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always quote a price that was way too
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high so I would tell him put him on hold
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walk to my boss’s office present the
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price she’d say no I would go back pick
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up the phone and say hey man I’m gonna
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level with you I can’t give you as much
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as you’re asking and to be honest um
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it’s not my fault my boss is well I
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really don’t care what we pay you I make
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eight thousand our I just need to find
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someone who can do it for this price if
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you can work with me we can make a deal
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if not I’m sorry as you can see I wasn’t
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the enemy I blame the boss for the no
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and positioned myself as someone who’s
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just trying to make this deal work we
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were on the same side so there you go
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those were three tips that you can use
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to become a master negotiator again take
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the perspective of the person you’re
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talking to
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always ask for more than you really want
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and never take blame for the no if you
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liked this video make sure you subscribe
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to my youtube channel by clicking the
04:35
subscribe button also do you know anyone
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that might be able to benefit from one
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of these three tips we talked about
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today send them a link to this video
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they’re going to love it also if you’re
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not on the social triggers mailing list
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one you’re an idiot
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to type socialtriggers.com into the URL
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bar enter your name and email into the
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signup form and press get updates you’re
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going to love it you’re positioning
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yourself as the batteries died

Landing Big Deals

How to Land BIG Deals with Big Clients

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If you want to grow your business land bigger deals with bigger clients, I’m going to share with you three ways to do it in this video. Hi I’m Evan Carmichael. I believe in entrepreneurs and I got a question for one of my youtube viewers. Love you guys. M3 power who wrote in to say hello “I have a small electric company in which I have two big companies that I install lights. I also I have about four electrician’s employed working under me. I would like some help getting some information in ways I can grow my business further and get more contracts. Any help would be really helpful. Thank you. ”

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if you want to grow your business land
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bigger deals with bigger clients I’m
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going to share with you three ways to do
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it in this video hi I’m Evan Carmichael
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I believe in entrepreneurs and I got a
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question for one of my youtube viewers
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love you guys m3 power who wrote in to
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say hello I have a small electric
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company in which I have two big
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companies that I install lights for also
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I have about four electrician’s employed
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working under me I would like some help
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getting some information in ways I can
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grow my business further and get more
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contracts any help would be really
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helpful thank you mallick amazing
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question Mallick thank you for the
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question and congratulations on the
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success you’ve had so far in building up
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your business to have those two big
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clients and building a team of four
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people under you I’m going to share with
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you the three things that I would do if
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I were in your shoes right now
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number one is network as much as I love
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social media and YouTube and Twitter and
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I spending a lot of my time there I
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doubt a lot of your clients are on those
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mediums a lot and so the way to get your
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business happening is through old-school
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old-fashioned networking you do it
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through two ways one is by identifying
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the companies that you want to work with
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and then start asking everybody you know
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if they know anybody who works at that
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business because through a friend of a
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friend of a friend you’ll get an
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introduction and your foot in the door
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the other way is to again make that list
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of companies that you want to work with
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and go attend events where you know
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they’re gonna be at where they’ve bought
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a table where they’re exhibiting where
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their president is speaking be there be
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a known quantity and introduce yourself
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it’s a tried-and-true old-school
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strategy but for you networking is the
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way to go number two is Alliance
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partners here what you want to do is
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find people who you can ally yourself
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with who are already serving the same
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customers that you want to reach they’re
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not direct competitors to you but
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they’re selling complementary services
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and products to your ideal customers you
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want to make a list of those guys
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introduce yourself to them and see if
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there’s a way you can work together
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where they could potentially introduce
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you to their clients and you could
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introduce them to your clients if you
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want your business to explode and grow
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really quickly aligns
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is the fastest way to do it and the
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number three is starts small I’ve worked
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with a lot of big companies some of the
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biggest companies in the world like
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Microsoft and Dell and American Express
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if you’re going in pitching a big
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company chances are they already have
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somebody who’s doing what you’re doing
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they’re already working with an existing
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vendor that you are competing against
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and so the way to land a deal is to make
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it simple stupid easy to say yes to
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instead of pitching them on some
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six-figure huge deal
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start a lot smaller start with the
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tiniest possible entry in and then over
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deliver like crazy and wowed them with
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your service so they are looking for
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other ways to incorporate you into their
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business when you start with a big
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proposal on a big budget it involves a
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lot of people it involves a lot of time
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and involves potentially kicking out
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current suppliers that greatly increases
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the risk and increases the chance of you
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getting an O or if you start with
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something really small with a tiny
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budget where one person can make a
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decision and you would leave an
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impression on that one person that’s
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your chance that’s your foot in the door
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you go in you over deliver like crazy
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you’re the best supplier that they’ve
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ever worked with and they will find ways
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to incorporate you into the rest of
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their business and of course continue to
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believe thanks for the great question
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for those of you watching my question
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for you is how have you landed big deals
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leave it in the comments below I’d love
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to hear from you and if you liked this
03:36
video don’t forget to subscribe to the
03:37
channel in the newsletter thank you so
03:39
much for watching I’ll see you soon

Business Deal Making

Deal-Making For Entrepreneurs – The Triangle of Negotiation

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business deal makingFor entrepreneurs, deal-making and negotiation skills are crucial. Being successful doesn’t only depend on great ideas and marketing skills, it also needs a network of deals which all entrepreneurs have to put in place. These include deals for funding,distribution, manufacturing, marketing and promotion, and deals with employees.

What are the three angles of negotiation?

Essentially it involves managing the three angles of negotiation or the “golden triangle” of negotiation. The three angles are negotiating state-of-mind, negotiation process, and negotiation behaviour. As an entrepreneur, you will be in great shape if you can successfully manage these three angles. Let’s discuss the three angles of negotiation.

  1. State of mind. Negotiation state is all about the state of mind you bring to the negotiation. Ideally, you, as well as your adversary, want to be relaxed and confident. You don’t want to be anxious. One of the key factors in building the right attitude is to have a real appreciation of the negotiating power on both sides.

It’s easy to miscalculate the number of aces you have on your side and overestimate the number of aces on your negotiating opponent. However, in most cases, the bargaining power is divided evenly between the two. This is a very important issue for entrepreneurs because they often find themselves negotiating with larger opponents. You may not have market size but you might have niche marketing power and that gives you an edge with a larger player.

  1. Process. Normally, there are seven stages in any negotiation. Everyone is well known with the later stages, such as bidding, bargaining and closing the deal, yet due to impatience, people often skip the earlier stages and this isn’t a good thing. The first stage, preparation, is extremely important. You need to be prepared and know who is on the other side, who will be on your side, what is the history between you, what is your ideal position, what is your bottom line, etc.

Here, entrepreneurs can have an advantage for themselves. Larger deal partners may be less prepared. A further early stage is exploring the emotional needs of both sides and seeking coinage, which can address those needs. Do they need reassurance, respect, a sense of belonging, a desire to achieve? All negotiations are driven by the emotional needs of everyone involved.You must be able to work that out.

Once you have you can arrange coinage to meet those needs, and get back what you need in return. Coinage is a concession. It feels like loose change to the giver, yet it has a high value to the other side because it meets an emotional need. Finding coinage takes creativity and imagination.

  1. Behaviour. Behaviour is key. There are 12 different kinds of negotiation behaviour assembled around four types:
  2. Push behaviour. This is all about what I want from the deal.

  3. Pull behaviour. This is all about what the other side wants from the deal.
  4. Join behaviour. This is about what we can achieve from the deal together.
  5. Part behaviour. This is about taking your energy out of the deal. For example, when taking a break from the negotiation.

Different kinds of behaviour suit different people and situations. Most people will default to their favourite behaviour each time. This is not enough. There are many different types of individual, some are optimists, others are pessimists. You need to be able to select the right behaviour for the right person. You can spot these different behavioural types by observing and listening and asking questions.

These are not always natural skills for entrepreneurs as they are so passionate about their project that they spend too much time talking. Entrepreneurs should not spend more than 30 percent of your time talking in any deal. If you spend more than that you won’t have any time to focus on your opponent’s behaviour. Therefore, entrepreneurs should exercise verbal restraint when it comes to negotiating. Remember, the more you say the more you give away; the less you say the more you understand…

 

Deal Making Basics

Deal-Making: The Basics Explained

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Here are some deal-making tips for negotiating your way to a smooth sale:

Always have a balanced commitment.

Both parties need to be equal and build loyalty and equity within the relationship bank account. Every time you do something, ask your prospect to do something of the same or even greater value toward making that commitment of working with you.

Depending on the situation, here is an example of what you can say to your prospect, “After our meeting, I’m going to ask your organization to sign a letter of intent.” This means, in the beginning stages of the business relationship, you should give your contract, terms and conditions in a document. Also, make sure to include potentially challenging clauses and then ask for the prospect’s input.

Directly ask for leadership.

There is a good chance your prospect likes to give orders. You can ask your prospect, “What do you think we should do next?” If for some reason you have not had your chance, you can say something like this to your prospect, “Which one of your team members, Susan, Bill or Joe, would you like for me to continue this conversation with?” You must specify the names of the team members. If you don’t say specific names, you will not get the proper result you are looking for.

Here are some things you should avoid and never do when it comes to deal-making:

Make guarantees that you’re unsure about.

You can always give a written copy of something instead of a verbal overview that could be misunderstood.

You should ignore early signs of unevenness between your business’s culture and your prospect’s business and culture.For example, your business sells the most expensive office equipment available while your prospect’s business sells the cheapest.

Those are some basic hands-on tips to follow when it comes to deal-making and negotiating. I hope these ideas and suggestions help you with your business’s sale process.

Jimmy Pattison and Michael Ruge

Jimmy Pattison & Michael Ruge

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Jimmy Pattison and Michael Ruge Shake hands