If you are running a start-up, you need to be familiar with the techniques of negotiation. Many start-up entrepreneurs do not go through the negotiations well and suffer a lot of stress.
After start-up, you have to keep in constant negotiations with partners, business partners or investors. Most of the time, the process of negotiations does not end in one go. consequently It is a good idea to be familiar with some basic principles in order to be successful in negotiations.
Below are the four principles of negotiations that can lead to more effective negotiations.
1. Find a way to Win-Win.
Negotiations should result in directions that are most profitable for each other. Of course it is best to get the results I want but if you do a one-sided, favorable negotiation with you, your fundamental trust with your opponent may be broken.
This is true whether it is small negotiation or big negotiation. Negotiations that can build trust in the long term can be good negotiations but if it is sometimes not satisfactory.
2. Identify the other party’s interests.
The basics of negotiation are to understand exactly what the other party wants. Of course, it’s a good idea to make my concerns clear. If negotiations may not progress if they do not understand the other party’s interests.
A person who is excellent in negotiations hides his interests and confuses his opponents to make them more advantageous. So finding out what your opponent wants is the hardest and most important thing.
3. Prepare an alternative.
“Best Alternative Not Agreed”
The other person never moves in the direction I want. So if negotiations are not possible, a certain amount of concession is necessary. In this case, you should negotiate with alternatives that you can accept.
If the negotiation does not proceed in the direction you want, you can avoid unnecessary or unfavorable concessions by setting a final route that you can finally concede.
4. Do not be in a hurry.
Early start-up entrepreneurs appear their impatience in the face. When the impatience is revealed to the face, favorable negotiations also fail. If the other side knows my weakness, he will never give the result I expect.
Irritability and impatience are the feelings that everyone feels. However, even if you have such feelings in your mind, your face must keep poker face.