Negotiation is a good skill to posses. No matter what you do in life, this skill always comes in handy. Starting from bargaining for your favorite knick-knack from the bargain market to closing out a business deal or a house that you are interested in.
The fist step of negotiating is to always negotiate. Most people are too polite to negotiate and often easily accept what is being given. This is a very bad move especially in areas where negotiation is expected. Most people offer things expecting some sort of negotiation. So when you fail to negotiate, you are potentially losing out on something that you deserved.
Take for example a job offer. It is a golden thumb rule that everyone negotiates for more than what is offered. The employer always factors this while extending an offer. Some people however accept the offer without asking any further questions. Always ask something more in addition to what is offered, it is expected and no one will back out of the offer.
Step 2: While negotiating, put forth more than one demand. In such cases, the other party has a set of options to chose from. You should remember though that not everything that you ask will be provided. Chose your options wisely and put it forward in such a way that the option that is most important to you is prioritized correctly.
Step 3: Don’t seem too desperate. Sometimes parties take some time to discuss the options and get back to you. During this time, be patient even if you feel like you are out on a limb. Following up too quickly shows that you are desperate and this can work against you.
Step 4: Be ready to back out if the offer is not acceptable. Some people accept the offer even if it is not acceptable. Unless you are totally unreasonable with your demands, it is completely fine to not accept if you are not happy. It is better to back out now than to accept and regret it in the long run.
And lastly, once negotiation is done, do your best to fulfill what you promised. Most negotiations work on trust basis and it increases depending on how you work and expand your relationship. Don’t be that person who disappears once the deal is over. Life is short and you will cross paths and need those people around you all your life. Make every word count.