Negotiators have an important place in any organization. Not only are they responsible for making sure that the firm saves money on potential costs and overheads, they’re also the key to ensure a firm doesn’t appear to have a weak position during negotiations. It is for this reason that negotiators are always expected to be at the very top of their game when representing their firm. One slip up from their end could spell disaster for the entire firm. Similarly, one stroke of genius on their part could end up benefitting the firm immensely. This is the main reason why negotiation training is vital for all negotiators.
In almost all instances, the negotiator needs to consistently work on their abilities and skills. Apart from grooming their talents, they should also be wary to avoid some glaring mistakes that could potentially undo all their work. Curtailing these mistakes and blunders should be a high priority for negotiators.
So, here are the errors that a negotiator should avoid at all costs:
Lack of attention
A negotiator primary job is to get the best deal possible for their client or firm. But how can they expect to perform this task if they fail to grasp the factors that can make their job easier or harder? One of the best and time-proven ways to end up with a good deal is to understand your opponent and evaluate what’s going on in their minds. A negotiator can only understand his opponent if they properly pay attention to the visual cues, the subtle posture cues as well as the words chosen by the opponent. Minor details like these could end up tipping the scale in favor or against the negotiator.
Lack of planning
A poorly prepared negotiator is destined to walk out of the negotiation room empty handed. A visible quality that successful negotiators possess is detailed planning. They don’t go and sit at a negotiation table hoping for the best results, they’re prepared and equipped with all the information necessary to help them achieve that. A negotiator is well-equipped with what their ideal outcome is and their preferable alternatives. They know the points that they’re arguing for, the points their opponents are arguing for, the merits of their position and of their opponent and how they can get their opponent to see the case from their point of view. All of this can only be accomplished through thorough planning.
Negotiations are just as much a question of numbers and sums as they are of mental strength. One of the hallmarks of a successful negotiator is that they’re mentally astute and know how to counter any mind games employed by their opponents. To take a common example; if you were to go to a market to sell a phone for $500, you’ll probably be expecting around $450 for it. Assume the first shop you go to agrees to buy your phone for $500. You’ll probably end up feeling disappointed considering how you could’ve potentially sold it for more. That’s the exact situation in the negotiation room, no matter how good a deal you get, they’re always room to make it even better. A successful negotiator knows this better than anyone and has the incisiveness to hold on for a better deal.