Welcome to the world of high stakes poker, where things rarely are as they seem and everybody wants to persuade you that you need them more than they need you. Many people don’t understand that just like poker, negotiation is a mind game and nothing more. Like in poker, you have your side of the deal (your “hand”) and the other person’s side (their “hand”).
Your job is to convince them that you have a better hand even if that’s not really the case. It’s a mental exercise like few others. A good deal can be just as exhilarating as a good game. However, in order to become good at negotiations, first you have to practice, and practice a lot. This is a detail most people seem to underestimate. Even if you’re a natural, you still need to practice to become better.
Here are a few tips on how you can become a more successful negotiator.
Start playing poker
You don’t need to become a gambling addict in order to improve, but you need to learn how to read people and how to bluff. The better you become at poker, the more successful you will become in negotiations since the activities are quite similar. You will learn how the bluff the other party and how to hide the fact that you desperately want to close the deal as soon as possible because what they have is of paramount importance to you. This brings me to my second point.
Never show too much interest
Once the other party knows they are holding a bargaining chip that is really important to you, it’s game over – they will use to get as much out of you as they can. That’s why you have to hide the fact that you need the deal. You need to convince them that the deal is more beneficial to them and they’ve won in the negations. Never show too much interest. Also, you should…
Always be prepared
The better you know your opponent, the better. Learn as much as you can about a person before you enter negotiations. Familiarize yourself with their situation, where they’re coming from and why. The more you know, the more successful you will be in the negotiations. Information is power. Every bit of data can be another pocket ace you can use to get a much better deal than you would have initially. For example, if you know that somebody is selling something you want, you would want to buy it. Of course, you’ve learned your lesson and haven’t showed too much interest.
This leads you on a common ground – you want to buy, they want to sell. However, you’ve also found out that the person needs to close the deal quickly and there aren’t many buyers interested in what they have to offer. This gives you an advantage and will grant you a much better price than if you didn’t know that last bit. This is an extreme example and things will rarely work ideally, but the more prepared you are, the better.
Always ask for something in return
Negotiations are about compromise. You will rarely hold everything in your hands so you will need to compromise. However, it’s paramount that you always get something in return. Even if you’re feeling generous, don’t give something up without getting anything in return.
This makes you look weak or gives the impression you really need the deal so your nice gesture will backfire and the other party will hit you with everything they’ve got. Respect is crucial for negotiations.
You’re a winner
Do you know what all winners have in common? Confidence. This is the final component you need for your success. You need to be confident that you can do anything. If you begin with a loser’s mentality, you will probably lose. You need to stay positive and confident, letting the other side you mean business.
Author Bio: Paula Sheamus is entrepreneur and blogger keen on topics about business and technology. She currently works as a manager of http://www.tenancyclean.co.uk/carpet-cleaning-london/ and she loves her job because she has enough time to share her experience with the readers.