The business world realizes the power of effective communication like no other, and there is an increasing consciousness of the same in the present day. According to a study, immediately following a negotiation, a negotiator only recalls roughly 20% of what the other party said. In this regard, numerous resources that train professionals in the rudiments of negotiation have emerged. Among these, books, online negotiation courses, and boot camps are the most popular and affordable avenues available.
These resources are designed to coach professionals in several key negotiation tactics. In addition, they emphasize the importance of good habits, such as clear communication, quick troubleshooting, fairness of ethics, and cooperation. Planning for specific situations and organizing an appropriate negotiation strategy are also integral to the process. More importantly, learning to be an effective negotiator involves technique and method. Understanding every stake, weighing alternatives, and offering mutually profitable solutions demand a studied approach to negotiation and improve one's chances of success. Reports note that approximately 40% of all adults in the United States don’t feel confident in their business negotiation skills.
The objective of any negotiation is a solution that gives you little to lose and has much to offer the other party. Regardless of the differences in views, the interaction must be constructive and foster goodwill. Good negotiators are flexible, creative, straightforward, level-headed, and have a comprehensive view of the matter at hand. They have a knack for assertive but non-confrontational communication and are realistic with their goals and expectations. Lastly, they strive toward mutually beneficial agreements that serve their company's interests while satisfying the other party's requirements.