How to Be a Better Negotiator
By leadership author and keynote speaker Ross Shafer
Are you an OK…but not a great negotiator when it comes to making a business deal? I can help you learn How to Negotiate a purchase whether it’s real estate…another business…or better terms on an existing deal…how do you get what you want?
#1NEGOTIATE FROM THE SELLERS POINT OF VIEW. Didn’t see that coming, did you? Look, you’ll always make a better deal if you ask yourself, What does the seller really want? Quick cash? Dissolve a partnership? Pay off other bills? If you know their REAL motive you’ll avoid making dumb mistakes that could kill the deal too early.
#2. DON’T BE DESPERATE. Being over-eager is like wearing a sign on your head. Be willing to pay a fair price but know the market well enough so that your emotions won’t talk you into over-paying. There are always other deals. 3. BE ABLE TO LIVE WITH THE WORST outcome. You’ve already identified there’s good money to be made from this deal…but there are always issues you didn’t spot during the negotiation…so allow for contingencies so that you’re not shocked, later.
#3. OFFER SOMETHING DIFFERENT. When there are other buyers in the mix competing on price. Don’t get sucked into a bidding war that might cause you to overpay. Be creative. Give the seller OTHER reasons to buy from you. Offer a shorter closing time. Offer to let the seller keep something they really want. Or offer to help the seller liquidate assets for no additional cost. Remind the seller what they WON’T get by going with somebody else.
#4. Lastly, KEEP IT FRIENDLY. One guy told me, “When it comes to negotiating, I’m a Grizzly Bear.” Hmmm, most people avoid bears. Bears are unpredictable. You don’t have to be stone killer who leaves scorched earth behind. You want the seller to feel good about you…so that word spreads you are fair and friendly. Let’s review. Negotiate from the seller’s point of view so you know their true motives. Don’t be desperate– otherwise you could over-pay. Live with the worst. If you can live with the downside the upside will take care of itself. Offer Something different so you are negotiating more than price. And Keep it friendly. Respect and integrity will sustain your career.
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Ross Shafer is the author of (9) popular business books and (14) human resource training films. In a former career Ross won (6) Television Emmy awards for his work as a TV host, writer, and producer. Today, Ross is a sought after keynote speaker and consultant for Fortune 500 companies worldwide.