The job of a proficient negotiator is tough, as you must constantly be ready to make decisions, plan in advance, and strategize. In spite of the fact that a preparation process for a negotiation may seem superficial, it’s tricky and intricate. Unsuccessful negotiation strategies are everything, and if you want to avoid making mistakes, the following guidelines might really help you out.
Missing closing dates
Unfortunately, missing closing dates is a very widespread practice among negotiators, and it generally results in a wrong beginning of the negotiation process. Plus, not only the negotiation process will be less successful if you miss a deadline, but you also risk being seen by others as an inferior negotiator, who is unable to act professionally. Not to mention that because of one missed closing date, the whole negotiation process will be slowed down, the participants will be annoyed, and the collaboration between two parties will be permanently damaged. Because of all these things, it’s much better to be ready on time.
Everyone knows that communication plays a crucial role during a negotiation process, because this is the only way business people can understand each other to express their aims and requests, and in the end reach a mutually favorable settlement. Hence, poor communication will just cause countless issues between participants, so a negotiator must prepare in advance, and determine the upsides and downsides of every matter that will be discussed at the table.
Conflicts of interest
Negotiators are supposed to put all their feelings and emotions aside before entering a negotiation room, so as not to be influenced by them in any way. However, sometimes this does not happen, mainly in the case of amateur negotiators when the whole process can be affected. Likewise, it’s just as important to be open, express your requirements and opinions in a straightforward manner, because a contract based on lies will never last, and your collaboration has little chances of being fruitful.
Stress & substance abuse
Furthermore, before attending a negotiation you must get a good night sleep, be relaxed, and clear your head, so that you can focus solely on the matter that’s being discussed at the table. Similarly, if one of the participants has consumed any sort of substances before the meeting, the negotiation is very unlikely to be satisfying; therefore, it will need to be postponed. Still, although not too many people come high at a business meeting, most of them are extremely stressed, and if they feel under pressure things will most likely go south. In fact, numerous studies have shown that stress obstructs the ability of a individual to think clearly and make good decisions. Stress and anxiety make you want to fight and quarrel to reach goals. The problem is you can never act like this because it’s unprofessional and sloppy.
Disorganized customer selection
This issue is another consequence of terrible communication skills. When you don’t talk with customers, don’t ask those questions, and don’t research, you cannot determine their main aims and problems. When you’re unaware of what your customers want, you cannot come up with effective solutions and good plans. In conclusion, it’s impossible to close profitable deals.
Sending someone else to do the dirty work
In some cases, business owners don’t have enough time to attend negotiation meetings, so they simply choose a firm representative to send instead. That’s not a very wise thing to do because a delegate can’t know everything about the situation and he won’t have the freedom to make major decisions. Eventually, both parties will have to suffer, so prior to sending someone to replace you, it’s way better to go in person.
Not all negotiation strategies can work on the best interest of your company. Sometimes, you may find it more comfortable to take the easy way out. That’s not the way to achieve success and if you’re not committed to your goals, you can’t make your business thrive. The above mentioned elements are to be avoided because they will only take you down. Choose to be smart during a negotiation meeting, decides yourself entirely to the job, and does everything in your power to achieve agreements that work best for you and for your team members.