Negotiation is essential to reach a conclusion, where both parties’ terms and conditions have been met. A good negotiation states that both parties are satisfied with the agreement.
Negotiation is not about you taking a step back if the other party is not agreeing, but it is about making them understand the importance of your reasons and having a civilized discussion over a cup of coffee or tea, whatever your client would prefer.
If you want to see the growth of your business, you will have to work hard on your negotiation skills. These skills won’t come in a single day and you can’t just read them on a blog and will become a good negotiator, but use these skills in real-life situations.
Here talked about the right ways to close the deal when negotiating for a contract or trying to renew a current one.
Listen to their needs too
Sometimes a very common mistake when negotiating a person does is by becoming adamant. Not listening to what other people have to say is not a good sign.
It would be great, if you do your part of the research and understand their issues and queries in advance. You will raise your objection only if the conversation is going in the direction, where you can face losses.
Try ‘I’m just requesting for what’s fair’ method
Here the other party will get an idea that whatever you are demanding is the industry standard and equivalent to current market rates. In that way, you won’t have to justify your requirements and it will save you both energy and time.
Also, it will turn the tables, and then the opposite party will try to convince you to make an exception for them.
Bring value to the table, not lies
Good reputation in the market can only come when you offer value to your clients rather than false assumptions. You have to stand on your words and provide them the quality work that you have promised.
When you make false promises and are not able to fulfill them, not only it tarnishes your image as a contractor but forfeits great deals from your hands.
Speak with facts and data
Numbers and researches don’t lie. If you are trying to prove your point without a fact or graph, then don’t expect people to believe you.
Also, don’t mix your feelings with your data. If you stop being professional the client will stop taking you seriously. Do not start any conversation with “I think we should” or “According to me” because these words prove that you are not going to understand the other party’s requirements.
Well, somewhere or other, you will have to come to terms where both the parties are mutually satisfied. You just need to set your priorities. If one thing is not your priority but it falls under the main priority list of your client, then as a good contractor, you should let them have it.
Your job is to offer value in the most negotiable terms so that the client would not have to sacrifice much. To survive in the contracting industry, you have to learn negotiation skills otherwise people can easily take your advantage.