Negotiating Like a Pro and Getting the Best Deals: Three Tools You Need
Negotiation is a very detailed process that requires a lot of strategic planning as well as the ability to interact positively with other people. While not always the first route to explore, negotiation can be very helpful.
There are some great tips for positive negotiation here, but let's dive into the three things you need in your toolkit to negotiate effectively and grab the best deal that you can.
A Logical Approach
Unless negotiation is something that you have done before or you are passionate about, it is a little bit difficult to jump right in without the proper mindset.
Above all, you have to remember to be logical and have a rational approach. This doesn’t mean you need to be completely void of emotions, just don’t let them control you.
This is Business
To you and the person that you are negotiating with, the negotiation process is business. You have to remember that both of you are looking for a good deal.
While you want to get the best deal on the product, so does the person selling the product. They have to be able to make a profit on the item just as much as you need to find a deal.
Emotions Aren’t Helpful
Don’t get me wrong here; emotions are a very powerful tool to use, but in business, they can get in the way. You will need to still have empathy and understanding, but don’t get offended if your negotiation doesn’t go the way that you want it to.
Product Knowledge
In most cases, before you go into a negotiation or haggling instance, you need to know what it is that you are looking at and do some local research.
What Are the Specs?
Where was the product made? How much time went into the product? Are you buying second-hand? There are a lot of specifications that you need to look into when getting ready to negotiate.
You can either do research online or, if you are in a strip mall type of situation, shop around and determine the baseline price for the item that you are looking at.
The best way to approach a negotiable situation is to know exactly what you are getting and what the business or store owner is selling.
Give and Take
No matter how much you research, more than likely, you are going to be negotiating with someone who knows their product better than you do. There’s nothing wrong with this.
There’s a little dance of give and take that goes on when negotiating, and some of that is going to occur with product knowledge. There may be something that you know that the seller doesn’t, and vice versa. This is the strategy of negotiation, so be patient, and if you need to, take notes.
Research on Previous Deals
Sometimes, there may have been previous promotions or deals that you may not have been a part of. This is where detailed research comes into play with powerhouses like Google and review sites like Reddit.
Study the Company
If you are about to go into negotiations with a company, it’s important to know everything you can about the company that may be pertinent to a negotiation. How was the company established? What do they stand for? What customer reviews do they have?
Remember, in negotiation, knowledge is power. It can even lead to better deals and promotions that you may not have known about.
Keep Track of Promotions
Promotions can be anywhere you look, especially with the existence of QR codes. These codes can be static or dynamic, as you can see in this zkipster article. Because QR Codes can change, take screenshots of deals to make sure you have them at the ready as part of your negotiation.
Keep a Level Head
One of the wisest things that you can do when going into a negotiation is to keep a level head. Don’t let yourself get frustrated, and make sure that you are offering deals that are good for both people within the negotiation.
From product specifications to dealing with your own psyche, there is quite a lot to negotiation. Always keep in mind that you are working with someone who is running a business to feed their family, and know that when you find the right deal, everyone is happy. Have fun negotiating with these three tools!
