by Cody Hodge

Created on: April 24, 2009

Negotiation is a tough art to master, because there is so much that goes into a negotiation. Getting a good deal is a lot like playing poker, and the gamesmanship that is involved when trying to figure out what the other guy has. When you negotiate, you are trying to get the best possible deal that you can, while the other side also is trying to get the best deal possible. There is a lot that goes into a successful negotiation, and you have to be smart about it.

You have to know what you want out of a negotiation session before you can strike a good deal. Do you want money, do you want a promotion, or do you want a lower price on a product? Knowing what you want before you start dealing makes it that much easier to zero in on what you want, and not have a protracted negotiation period. Also knowing what the other side has to give also makes it easier to negotiate.

If you are looking for a raise, and the economy contracted six percent in the last quarter, what do you think your odds are? You have to be reasonable when you negotiate, and find a common ground. If you can get your employer to admit that you deserve more compensation, you can then hammer out a deal where you will get paid when the economy recovers, or maybe you can get some other perks that will hold you over until you can get paid more.

A good negotiation will result in both sides getting what they want out of the deal. If you go into a store and you want a lower price for the TV in the display section, what will you give in return? If you save 200 dollars off the sticker price, will you be willing to pay up front all in cash today? The manager needs to make some profit, and can only benefit in the deal if you can make him some money in the process.

A good negotiator will be reasonable, and patient as well. The reason that the negotiators they send in to end police stand-offs are so good is because they can find a common ground with a calm, reassuring tone. They see what the person on the inside wants, and is willing to give it to them in exchange for the safety of people. There is no yelling, screaming, and trying to get the best of the other side. Basically they just want to make a deal that benefits all parties involved.

Negotiation involves fairness, and a willingness to compromise. You may not get all the things you wanted, but if you can get a few of the key things you need, then you have done a good job. When both sides walk away from the table with most of what they wanted, it is a good deal.

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