Negotiation mistakes are one of the most important reasons for negotiation failure that negotiators face during negotiations. For example, we may lose business or the respect of our team, or we may not succeed in solving problems that negotiators can overcome.
Reasons for Negotiation Mistakes
1. Not Ready to Negotiate
Even if we want to have a clear idea of a negotiation, we should still prepare and practice our arguments in advance.
When we are prepared, we feel more confident, which is important in any negotiation. If we can show our knowledge about the subject, the other party will take us seriously. If we are fully prepared, we will not forget anything.
2. Not Listening
If we want to be a successful negotiator, we must listen to what our other side has to say. If we talk to him/her but ignore his/her words, it becomes more difficult to find areas of agreement.
3. Focus on Price
Business negotiations are about money. But if we enter the negotiation process by setting the price, we are facing the risk of leaving the other party behind. Price is important. But it’s only one side of the deal. Let’s assume what we can negotiate. For example, we may be able to agree to an exclusivity clause, provide additional services, or improve the terms of the contract.
4. Failure to Establish Relationships
There may be cases where we have to negotiate coldly, so we are unaware of the other party’s wishes. But try to communicate with the other party if possible. Small talk can build trust and give us better insight into ambitious goals or even fears about the negotiation process.
5. Fear of Insult in Negotiation
Trying to get the best deal for yourself or your organization can be daunting. We can resolve these feelings by remembering the difference between negotiating and arguing. Where each party agrees or disagrees with something, the goal of negotiation is for both parties to reach an agreement.
6. Trying to Succeed in Negotiation
Reaching an agreement can be more difficult. The most effective negotiation is where both parties feel they have achieved something. We may not have gotten everything we wanted, but enough of this deal has been beneficial to us. It is important not to be greedy. If the other party reaches an agreement and this agreement is acceptable to everyone, do not be harsh and do not jeopardize future negotiations. We need to know when to stop negotiating.
Ways to Avoid Negotiation Mistakes
When we are negotiating, never make assumptions and don’t rush.
Do not consider the negotiation personal. It’s just business.
Don’t negotiate too much and don’t accept a bad deal for sale.
That’s why it’s important to make sure we do everything right. The smallest mistake can cost us.
1. Let’s Not Make Assumptions for Ourselves
This means we need to know who the decision maker is. What are the other party’s needs, values, hopes and fears. It also means not to assume that nothing is negotiable.
2. Let’s Not Rush
Negotiations take a long time. Especially if we want to move them forward without problems. Take time to build a real relationship with the other party. Share a small piece of personal information that demonstrates our openness and willingness to connect. By doing this, the negotiation turns from an adversarial battle into a two-way dialogue. Also, we should not be afraid of creating a pause; Because it can help us regain our perspective and eliminate unwanted emotions. It is not necessary to negotiate at once.
It’s easy to let our emotions get the better of us during the day of the negotiation. Especially if it’s something that affects us. But be careful, getting too emotional can harm our productivity.
To challenge ourselves to move past the moments that hurt us into moments where we feel attacked, and redirected defensively into moments of curiosity where we can receive the appropriate response. Emotions can easily be used against us in negotiations.
Up To Sum
It doesn’t matter if we’re negotiating your salary in a new job, asking for a raise, or overseeing a business deal. These are techniques that every profession needs, and this is not an easy task.