Ever wondered how to get people on your side at the negotiating table?
Negotiating is a critical component of all business operations. Whether you are a freelancer, a small business owner, or a manager, you’re going to have to negotiate deals with other people.
The problem is, very few people actually like to negotiate. Whenever possible, many people avoid it altogether or come to an immediate conclusion. As a result, the process appears rushed or forced.
The truth is, the best negotiators aren't ones who are arrogant or ruthless. In fact, it's the complete opposite. The best negotiators are respectful and direct. They work in a collaborative fashion to ensure everyone is satisfied.
This means that anyone can be a great negotiator regardless of their background or experience. All you need are a few tools and some guidance. In this article, we will cover five strategies for getting people on your side at the negotiation table.
If you go into a negotiation with a reactionary mindset, you are setting yourself up for failure. Take the time beforehand to prepare for all possible outcomes.
Be sure to identify:
Many publications tell you to never think about the worst-case scenario. They say it will only hurt your confidence, and ruin your chances of landing a deal. But the truth is, by preparing for the negotiation in advance, you will be able to tackle it head-on.
Imagine that you're a freelance copywriter looking to earn a contract in a big marketing firm. Your plan is to ask for $1,500 to complete the project. There is just one problem: you've received some insight that the hiring manager is difficult to negotiate with. Best case scenario, he will agree to $1,500. But, worst-case scenario, he will counter you with a $1000 compensation.
At the negotiation, the manager indeed offers $1,000. Instead of freezing on the spot, you counter back and explain the value you bring to the organization. This is how to get people on your side at the negotiation table.
By considering this information ahead of time, you will have been able to confront the manager head-on. This level of confidence is invaluable during a negotiation.
Another part of preparing for a negotiation is doing your research.
It goes without saying that you must have a strong understanding of your niche to be successful.
Picture this: the marketing firm you want to write for generates sales copy for furnace units. During the negotiation, the hiring manager asks you to create content on the spot, aiming to sell the air filter.
Do you see the problem here?
You entered into a negotiation without an understanding of the company's terminology. Overwhelmed and at a loss for words, you give the manager a generic response.
Do you think the manager would want to hire a copywriter who doesn't understand their product? Even worse: do you think the manager would even consider paying you what you ask for?
This example shows the value of doing research ahead of time.
According to Business News Daily, more than 40% of U.S. workers don't feel confident in their negotiation skills.
Confidence comes in many different shapes and forms. If you have a hard time presenting yourself confidently, an easy way to do so is to compensate by gaining an excellent understanding of the opposite party's product or service.
This is how you get people on your side at the negotiation table: by explaining their problems better than they can and presenting a strong solution. Your prospect then knows they are talking to someone worth their time.
How do you think freelancers are able to charge top dollar for their services? While they may not have many years of experience in the industry, they earn respect by taking the initiative ahead of time by doing their research.
Most people like to treat negotiations like a competitive sport. They think that whoever says most makes the best points or is most persuasive wins the deal.
If you stop to think about it, this is the opposite of how we should approach a negotiation. In most cases, the person who speaks the least benefits the most. Why? The answer is simple.
Have you ever said something that you later wished you hadn't? It happens to the best of us. The problem is, during a negotiation, saying the wrong thing can make you appear less intelligent than you are.
“One of the most sincere forms of respect is actually listening to what another has to say” - Bryan McGill.
For example, if you are closing a deal over the phone and your prospect says the price is way too high, there are two ways to respond:
Silence is one of the most powerful forms of marketing and a way to get people to be on your side during a negotiation.
During the silence, your prospect may take the time to elaborate on why the price is too high. With this information at hand, you can tailor your response to their needs.
You would not have gained access to this information had you chosen to speak right away. Can you think of any other ways of using silence to your advantage?
Being silent does not imply a silent treatment to your prospects. Instead, it shows that you value their ideas and care about their input.
Here are four ways to turn silence into your advantage:
Most of us have a limited supply of interesting stories, ideas, and experiences to share. By saving them for the right moment, you will assure they get the emphasis they deserve.
People go through life wishing that others listened more. By listening to your prospect, you are giving something valuable to them.
Some prospects have been on thousands of sales calls. For them, it's second nature. When there is a moment of silence, they may jump in and fill the silence with information they didn't plan to share.
Think about the law of supply and demand. If you are always sharing your ideas, it's unlikely that anyone will seek them out. Conversely, if you only say what you are thinking on occasion, your words will carry more weight.
When working on getting people on your side at the negotiating table, don't overlook the value of silence.
Leveraging these tools, you will be able to establish long-term business relationships. Not only does this make negotiating easier in the future: it also expands your network.
When entering a negotiation, the last thing you want to do is set a range of prices you are willing to accept. People love ballpark figures, as they set the framework for them to negotiate the deal.
For example, don't enter into a negotiation asking for compensation between $500 and $2,000. What do you think the negotiator will try to do?
They will keep on talking to you until the price is as close to $500 as possible. Furthermore, they will come up with many reasons why the price should be at the lower end of the suggested range.
Instead, walk in with a price you are confident about. Because you have done your research and prepared ahead of time, you will be able to handle any objections. You will get people on your side at the negotiation table.
You might be thinking,How do I determine what I am worth?
If you are new to the industry, it's difficult to set a rate that's fair for both parties. You don't want to overcharge your prospects and close no deals, but you also don't want to undersell yourself.
A pricing model freelancers use today is called the ‘Results Driven Compensation Plan.’
Imagine that you are a freelance closer. During the negotiation, you tell the manager that you want 10% of the value of each product you sell over the phone.
Do you think the manager would have a problem paying you $500 to sell a $5,000 product? With this pricing model, you get paid when the company gets paid.
There's only one problem with this idea. What happens when you are unable to close any deals? All that time you’ve invested, only to get nothing in return.
This is why you need The Rainmaker Collection.
The Rainmaker Collection is the only resource you will ever need to become a world-class closer. You will be able to close any deal over the phone or in person.
In it you will receive:
Think about it all playing out. You open up with a strong offer and a payment plan that revolves around the results you produce. The hiring manager won't even hesitate to accept your offer. Why? Because there is no risk involved for them.
Thanks to the skills you will have learned from The Rainmaker Collection, you will have no problem closing deals left, right, and center. You might even make more money than if you had asked for a fixed amount up front. Do you now see how powerful this is?
If you're wondering how to get people on your side at the negotiation table, generate an offer no one in their right mind could resist. Here, the risk appears to be completely on you. Even if you close no deals, the company will not owe you any money.
At the end of this article, you will find a special offer we have prepared for you.
Even if you hate every aspect of negotiating, never try to wrap it up as soon as possible. A rushed conversation always results in someone leaving unhappy.
Additionally, there is an advantage in taking things slowly. A negotiation is an investment of time and energy for all parties. The more time each side puts in, the more likely they are to want to close the deal.
Don’t bargain yourself down before you get to the table.” – Carol Frohlinger
During a negotiation, there is no such thing as a winner and a loser. Even though money may never be exchanged, people don't like to miss out on opportunities. For this reason, negotiators aim to create win-win situations for both parties.
Here are three reasons why you should slow down your negotiations:
If you choose to rush through a negotiation, it's likely you will miss out on valuable information. This could include your prospect's priorities and goals, as well as any potential blockers.
It's difficult to make a strategic decision when you are under pressure. Extending the process allows both sides of the party to think about all the factors involved.
When attempting to get people on your side of the negotiating table, don't forget to use time to your advantage.
How do you think your prospect would feel if you tried to move through the negotiating steps as quickly as possible? By taking your time, you’re showing them that you have their best interests in mind.
And when your prospect knows that, they will instinctively let you guide the negotiation. As a result, not only will they be less likely to push back: they will also view you as being more trustworthy and credible.
Imagine that you're a freelance website developer. You've negotiated a great deal with a potential client, and are now waiting for their response.
The problem is, you've given them a generous amount of time to consider your offer. Annoyed by the situation, you start calling them every day until they decide to give you an answer. Do you think this is a smart idea?
What you are doing here is putting the prospect in a position to either answer your question or walk away. This is not a smart way to get people on your side at the negotiation table.
Instead, you should have discussed the next steps during your last meeting. Do they want to book a phone call, set up another meeting, or send an email to you?
This simple act could decide whether you close a deal or not.
The one thing you don't want to lose is your momentum. Once you have the prospect moving in the right direction, you need to keep the ball rolling. By discussing the next steps, you show the prospect you care about the topic, and that you want to maintain a long term relationship with them.
People have strong feelings about negotiations, and sometimes these emotions can erupt.
It's important to never assume that anything you hear is true. The louder, bolder, or more emotional the statement, the more likely it is a tactic or a sign of aggression.
If you find yourself in a heated argument during a negotiation, here are three questions to ask yourself:
If something makes you feel intimidated, there is nothing wrong with walking away. This will prevent you from displaying emotions in front of people which you will later regret.
If the negotiation is starting to take a toll on your emotions. Take a moment to get some distance and emotionally reset. This will help you to move forward with the next steps.
It's never beneficial to agree to something just to please the opposite party. In a negotiation, both parties should come out feeling like winners.
Arguing back is never the way to get people on your side at the negotiation table. Instead, focus on how to better position yourself.
According to Healthline, it’s estimated that 16.2 million adults in the United States have had at least one major depressive episode in a given year.
Emotions are natural elements that we cannot control. What wecan control is the way we handle them. If you're scared, you may not be able to control your emotions during a negotiation, and you should consider bringing a partner with you.
Walking into a negotiation alone can make for an unforgiving experience. It can feel like your back is up against the wall and you have no way out.
An easy way to go about this is to bring someone else with you when you enter the negotiation. For example, it could be a friend, a colleague, or a family member.
Whatever your strategy may be, it plays a significant role in helping you get people on your side at the negotiation.
At the end of the day, you are the final decision maker. If you want to go through with the deal, then it doesn't matter what the other person has to say. But what happens if the other party starts to make things difficult for you? What if they start to ask questions or make objections you never could have prepared for?
This is where your partner serves as an excellent resource. They can help break the silence or come up with a creative response. After all, two minds are better than one. This relief will help you relax and gather your thoughts.
Before you agree to a deal, it never hurts to ask for a second opinion. This extra level of assurance will help you feel confident in your decision.
In this article, we have covered 5 strategies for getting people on your side at the negotiation table.
With the help of The Rainmaker Collection, you will be able to negotiate irresistible deals and deliver on your promises. Furthermore, you will notice a significant improvement in your ability to close deals and foster leads.
If you're ready to change the way you negotiate, click here to order The Rainmaker Collection.