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Are You Making These 5 Negotiation Mistakes?

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Negotiations aren’t always easy. In fact, for the majority of us, they can create relatively intimidating situations.

Contrastingly, the difference between walking out of the room with the lion’s share and ending the call with your head in your hands all boils down to one thing –

Your negotiation training.

You’ve more than likely got some tactics already under your belt, but unfortunately, there’s also a good chance you’ve picked up bad habits and are making key mistakes. And it’s these mistakes that are undoing your hard work, weakening your position and, ultimately, eating away at your hard-earned take-home.

As a result, it truly pays to understand the key negotiating mistakes that you could be making.

1) Prioritizing Talking Over Listening

It’s said that the Dalai Lama was always the last person to speak in a conversation – not because he had to have the last word, but because he listened, digested the information, and responded with valuable insight.

When you’re in the sales mind-set, it’s easy to trade off concentrating on what the other party is saying to plan your next point in your head. However, do so at your own peril. When doing this, you run the risk of missing actionable information that could be the difference between you getting what you want and missing out entirely.

2) Not Leaving Room to Negotiate

If you set £10,000 as the price, you shouldn’t expect to get £10,000. Sales is about negotiation, and nobody wants to pay full price.

As a result, try setting a price that leaves room for negotiation. If you start at your lowest price, you’ll have a tough time convincing the other party that this is actually the case.

3) Not Asking the Right Questions

There is no such thing as non-negotiable – there always exists an angle from which the relevant parameters can be shifted in favour of each party.

Unless the other party has come in from the start with their lowest offer, there’s always a way to strike a deal that benefits everyone involved. If you don’t ask, you don’t get, so don’t be afraid to examine where the other party’s margins lie, or what their core objections are.

4) Ignoring Their Objections

It can be easy to glaze over objections in sales, especially when they work against your core objective. However, this is far from good technique and will actively hinder the results you see from your negotiation.

To thrive as a successful negotiator, you need to identify the other party’s concerns and objections, listen to their arguments, and present an amicable solution. Objection handling takes practice, but if you avoid it, you’ll never advance your abilities.

5) Not Actively Upskilling Your Negotiation Tactics

As with anything, although some people are born into it, negotiation is something you need to work at. So, if you’re letting your abilities stagnate and not regularly practicing and advancing your knowledge, you’re not going to experience a positive result.

Fortunately, companies like The Gap Partnership offer sales negotiation training to help you get the results you want from key situations. Get in touch with them today to find out just how much you’ll benefit.

Latest Activity: Feb 19, 2018 at 12:47 AM

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