For many major purchases in our life, we will have to use negotiation skills to try and get a good deal. The same thing occurs in business. Today we will go over 2 overlooked negotiation strategies that can be used to help you get the better end of the deal.
This may seem obvious, but there are some people who hate being in negotiations, so they do all they can to get it over with. If you do this, then you are never going to get a good deal. For example, when you go to a furniture store and you tell the sales person that you need a sofa ASAP for an event on the next day, that sales person knows that no matter what he offers you, you are going to buy a sofa. If you tell that sales person you are just window shopping or are interested in a design, then that sales person is going to heavily discount the sofa, so you can buy it. Use this same theory in business negotiations as well. If you are in a position where you can take as much time as you want to complete a deal, use all of that time, because eventually the opposing party will succumb and make a deal.
Now this is a pretty risky strategy, as not only is it a tough situation to enter, but if you do offer this deal and they decline, then you are left with nothing. When using this strategy you kind’ve want to “checkmate” the opposing party. You want to put them in a situation where this is the last offer you will get. By using this, you have all of the power in the negotiation since it is up to the opposing party to now take up the offer. You can use a take it or leave it offer when there have been many offers and counteroffers between both parties. You can also use it once you realize how important this deal is to the opposing party.
Negotiations don’t have to be hard. It can be fun. You simply need to be patient and always analyze the situation the opposing party is in. If you can tell that they are becoming antsy, or rushing into a deal, use a take it or leave it offer to really force their hand to accept a deal.
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