Negotiation is a powerful skill that will help you stand up for yourself when it comes to your career and finances. However, the thought of negotiating your salary or even your cable bill can create feelings of fear and concern. It is important to overcome these negative feelings so that you can stand up for your financial interests. Boost your skills and confidence by learning these 17 negotiation tactics. With these tips and tricks in your pocket, you'll be well equipped to negotiate the best deals for you and your budget.
Don't hesitate to jump over to the infographic for quick tips on effective negotiating tips that you can use right now.
1. Try the foot-in-the-door technique
The foot-in-the-door technique is a tactic that uses a small, initial request to increase the likelihood that someone will agree to a second, larger request. This technique can be used when your goal is to achieve similar results. For example, if you want to buy a shirt for $ 10, you can haggle with the seller to bring it down to $ 5. You can then ask if you can buy two shirts for $ 10. You don't want to feel contradicting yourself about giving the first discount, and you will likely allow the second too. In this scenario, you have successfully negotiated two shirts for the price of one.
2. Use the door-in-the-face tactic to prevail
Instead of getting your foot in the door, you can also try the door-in-the-face technique. This technique is the opposite of walking-in-the-door in that the initial request you make is an unreasonable one that you expect to be denied. After your first inappropriate request is denied and you make a smaller, more reasonable request, the person will feel compelled to agree. Door-in-the-face is an effective technique when you want to increase the likelihood that someone will agree to a small request, such as asking a few questions.
3. Use the "take it or leave it" method
This method is a tough negotiating tactic that suggests that an offer is non-negotiable. One scenario in which this method can work is when you have a good or service that someone else needs. If you sell your car and a potential buyer objects to your selling price, you can respond by saying that this is the price and they can accept it or leave it. If the buyer really needs the car, they'll take it at your price, and if they can't meet that price, they'll be forced to leave. Since this tactic is designed as an ultimatum, be prepared for both outcomes.
4. Take advantage of the competition
When negotiating, keep in mind that competition is a great catalyst for better business. When considering a purchase, do your due diligence and compare competitors' prices to see what is appropriate for your budget. However, prices are not always the only factor when it comes to good deal, and you may find that a preferred business or service may ask for more. Use your knowledge of competing providers and ask if they would be willing to match a competitor's price for the same product or service.
5. Do your research
Before entering into any type of negotiation, it is always helpful to do some research. If you're looking to negotiate a raise or raise, do some research on the average market value of your position in your area. Go into your negotiation with this number and present it as evidence of the desired salary. The same premise applies to buying a house or car. Find out the current prices for similar houses and cars in your area and use them as a bargaining chip in your negotiations.
6. Find a win-win situation
Another negotiating tactic is to create a win-win situation for both parties. Imagine that you are on vacation and want to do an activity that fits your budget. You can decide that you are interested in an activity that typically costs $ 100 for two hours. If you're on a budget of $ 50, you may be wondering if you can pay $ 50 for half the normal time you spent on the activity. This offer represents a scenario where you get what you want and stay within your budget and the counterparty is still being compensated at their normal rate.
15. Boost your self-confidence
Sometimes it is hard to feel safe when you are expecting an awkward or awkward discussion, but confidence can help you appear more believable and make people more open to you. To boost your confidence, try repeating a mantra for yourself, taking a power pose, or playing your favorite pump-up song to ease any nervousness.
16. Asking questions
Never underestimate the importance of asking questions in a negotiation. This will help you gain time to think, but it will also give you more information to back up your strategy. Try questionnaires that explain why or how certain decisions were made. Another option is to simply ask for help. Some examples are given below:
“I'm trying to understand why my medical bill is so high. Could I see an itemized receipt? "
“I didn't get enough financial support to go to this school. Can you please help me write an appeal for more help? "
17. Stop if necessary
In certain situations, time can put unnecessary pressure on you. If you need to take a step back to ponder your options or make the right decision, don't be afraid to ask for time to reflect. For a vacancy, you can politely ask for a deadline to make a decision or say that you need a few days to think about it. Remember, you've already had good negotiations, so don't throw away your hard work with a rash decision.
Now that you have the negotiating skills, put them to use and do the best for you and your finances in these surprisingly negotiable scenarios. For each situation, find a few effective ways to start the conversation, and remember to stay confident and polite in your communication.
Swell: Very well understood | Harvard Negotiation Program | APPA | Psychology Today | Just psychology
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