Negotiating is a part of living; we do it all the time.
When you walk down a crowded street, you negotiate the path you take.
A couple negotiates their relationship before and during the marriage.
And of course, negotiation is one of the skills developed by all savvy property investors and businesspeople.
Over the years, I’ve noticed that some people are very good at getting terrific deals.
Most others simply get what the other party is willing to give.
What’s the difference?
In my mind, it’s that the first group knows how to negotiate.
It's more than that; they know how to influence and persuade others to do what they want.
So today, I discuss the topic of negotiation, influence, and persuasion with Mark Creedon, founder and CEO of Metropole’s Business Accelerator Mastermind.
Whether you realize it or not, in business or life, you are always negotiating.
- If you are a poor negotiator, you’ll spend a fortune.
- If you are a good negotiator, you’ll save a fortune.
- If you are a great negotiator, you’ll make a fortune.
Negotiation is a critical skill for investors, businesspeople, and entrepreneurs.
But as I started to write my latest book, Negotiate, Influence, and Persuade, I realized that to be successful in life today, you need to be more than just a good negotiator.
You need to be able to communicate with people – you needed to create rapport and understand how to ethically influence and persuade them.
As we’ve already said, life is one negotiation after the other, at home, at work, with family, and with customers.
And in every transaction, there is a buyer and a seller: they either buy what you’re saying, or you buy what they’re saying.
But this book is not just for salespeople; it’s also for you as a consumer because we all negotiate every day of our lives.
I want to teach readers the skills to get what they want when they want while still retaining good relationships with friends, co-workers, and customers.
But it’s worth going back long before I wrote this book.
Years ago, I was a sucker for persuasive salespeople.
That was before the days of the Internet, and I bought things I didn’t need from great salespeople and direct marketers who sent compelling letters.
It’s worse today for people who don’t understand the principles I share in my book because we are bombarded by persuasive marketing, even more, today with the power of the Internet and email.
All of us, at some point, have been under the influence of a good negotiator.
Have you ever experienced a time when you were moved to act, compelled to do something, or bought something that you were prepared to do almost anything to get?
Why were you so compelled to overcome your fears and take action?
What if you could bottle that kind of power?
The ability to persuade others to move through their hesitancies and act on your suggestions.
That’s what I wanted to learn because I asked myself questions like, “What would that power, the power to persuade, the power to influence be worth to me?”
We don’t always want to do that – meet halfway - do we?
So, if you want to walk away with the best deal, you’re going to have to learn how to persuade others.
You’ll want to learn how to give a teeny bit, so the other party comes over to where you are, from your point of view.
For you to get what you want, you're going to have to somehow cause other people to do what you want.
But don’t get me wrong, you still need to do the right thing by people.
If you intend to sell something (be it a product or service) to someone they don’t want, need, desire, or worse, something that won’t produce the outcome they want, you’re a con artist.
However, if you intend to help someone get the results they want, then I believe you should use every tool of persuasion, negotiation, influence, and sales strategy to close the sale.
- Everything is negotiable
This does not mean you are always going to get what you want or win every negotiation, but you must remember that everything is potentially up for negotiation.
- Know what you want before negotiating
Before commencing negotiations, always know the result you want – your bottom line.
- Treat negotiating as a game
When it comes to negotiations, you need to be involved but not too much.
If you are too emotionally involved, you will lose your perspective and make emotional rather than subjective decisions.
- Strive to be innocent
To Power Negotiators, smart is dumb, and dumb is smart.
When negotiating, you’re better off acting as if you know less than everybody else, not more.
- Ask questions
Asking questions tends to establish a climate of trust.
If you are not happy with the response you get, ask another question such as, “Why do you say that? Even if you know the answers.
- There are 3 leverage points in negotiation
We discuss some of the common mistakes people make in negotiating
- Being emotional
- Not enough research
- Not enough eggs in your basket
- Not submitting a written offer
- Submitting a high offer
- Submitting a low offer
- Not using a buyers’ agent
Links and Resources:
Why not join Metropole’s Business Accelerator Mastermind
Learn more about Mark Creedon – Business Coach to some of Australia’s leading entrepreneurs
Get a copy of Mark’s new book here – Have a Business, not a Job
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Some of our favourite quotes from the show:
“Nothing is non-negotiable, even when the other party tells you so.” – Michael Yardney
“In a lot of negotiations, people want to act as if they’re the smartest person.” – Michael Yardney
“The first person to split the difference will usually be the loser.” – Michael Yardney
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