I’ve been meaning to tell you… that, if you’re like me, you may need some guidance in negotiating and flat-out saying NO. Here’s some advice I ran across.
At some stage in our lives we all are going to need to know how to negotiate. Yet, so few of us know the basic skills!
This article is written for those TIMID folk who want to feel more confident in the basic skills of negotiating. These are the skills [that] can make a significant difference to your sense of confidence when you learn them.
1. Know the outcome you want.
Do you want a win-win outcome where both parties benefit? Or a win-lose outcome where someone (presumably the other party) is not happy with the result?
It is important you know what type of outcome you want because that will affect the long term relationship you have with the other party. Win-win outcomes are beneficial where you have an ongoing relationship.
2. Know your ‘position’.
How important is this deal to you? How much do you need it? Could you walk away? What alternatives do you have? What are you prepared to concede?
3. Know your counterpart’s ‘position’.
What is important to them in the deal? When you know that you have an advantage. Try not to reveal what is important to you! Keep a poker face.
4. Work out different scenarios ahead of time.
Being caught by surprise will NOT strengthen your position! It is useful to brainstorm and write down on a piece of paper what could possibly happen.
5. Know yourself.
Know your weaknesses. Your aversion to conflict may toss you into concessions that aren’t necessary! On the other hand if you are stubborn, holding out for 100% your way may cause you to lose a really great deal!
6. Back up your position with logic.
If you negotiate from emotion, emotion will sway you from your position. Fear of loss, sense of failure, conflict, pressure, sentiment! All can be applied to sway you from sticking to what you really want. Know the facts to counteract others’ emotions.
7. What can you concede?
Find something in the deal that for you will not be important but for your counterpart may be of significance. A ‘sweetener’ can be what clinches the bargain in your favour. Save this item for the final offer you make.
8. Have an exit strategy.
If everything goes against you, stop talking. Immediately!!! Make sure you are listening. If you are doing most of the talking the chances are you are doing most of the conceding. Offer to reconvene at another time when you have been able to consider what has already been put forward.
Skillful negotiation takes time and practice. Armed with these basic skills it doesn’t matter how reticent you may feel towards negotiating an outcome you want!
(c) Kim Beardsmore. Read the full article here.
For more things Kate’s been meaning to tell you, go here.
Auntie Kate The Resale Expert 
Thanks, Scott, for your consumer-oriented point of view. Considering that the viewers of this blog are here in their positions as resale and consignment shopkeepers, it’s a good point of view to keep in mind.
And thank heavens, as resalers, we basically deal in one-of-a-kinds, so comparing to another retailer’s offerings is moot.
In these times of economic belt-tightening, negotiation skills are more important than ever, to keep the cash flow…flowing.
What a great list! I spend a lot of time trying to help women learn how to negotiate. Really, its not “learning how” that is the problem. It is getting them to do it! However, once they get over the fear and embarssment, they love it and no salesperson is safe.
One thing I’d change about the list though is…
6. Back up your position with logic.
I’d rephrase this to read…
6. Back up your position with FACTS.
Logic is fine, but it doesn’t always cut it. Bring in the facts. Show the salesperson that Consumer Reports shows it is only average, not top of the line. Show the adds that indicate you can get it cheaper at another store. Prove that you can get it delivered for free from Joe’s Appliance Shop by showing him/her a competitive quote. Better yet, show them CASH in your hand which just happens to be a little less than what they want because the last $100 is still in your back pocket.
What a great blog! I’ll link back to you!