If you are into the negotiation business, you have probably wondered what makes a great negotiator.
Well, negotiation is an art. The good news? Anyone can learn it.
Some qualities of exceptional negotiators are not easy to develop even using the most meticulous negotiation exercises. These are characteristics you either possess or don’t. However, you can develop such qualities with the help of the right virtual negotiation training program.
Here are six qualities that make a great negotiator.
The best negotiators, who have attended negotiation workshops, possess a precise understanding of the potential outcomes and limitations of a negotiation. Moreover, they know what’s happening and what’s out of bounds. They make smart choices and lend suggestions that usually make sense. They are also less likely to be negatively impacted when they do not get what they aim for.
Verbal and numerical reasoning and the ability to conceptualize are essential for successful negotiation. Without these qualities, it isn’t easy to develop ideas, make sensible trades, make your case for value, and get noticed.
High Self-esteem and confidence
If you’re dealing with an adversarial party, they can usually detect a lack of confidence and utilize this to their advantage. That is why high confidence and self-esteem can lead to exponential success. These qualities encourage appropriate risk-taking and boldness.
Thinking Clearly Under Stress
Negotiations can be stressful. People who can think clearly throughout the process can emerge from tough situations with an ability to succeed. People who aren’t likely to give up, fail to grasp opportunities, or handle a stressful situation perform well in a negotiation.
Negotiators often become happy when negotiations seem to be moving along. In the end, they get what they had planned for. However, they often lose concentration and temper when situations change during the negotiation. On similar lines, negotiators who manage their emotions properly can stay in control of the process. If you don’t control your emotions, the other side can quickly take over the negotiation process by tapping your vulnerable areas.
Sometimes, talks end when one side “can’t accept it any longer.” They either leave too soon or fail to spend the extra time and effort required to win. The most successful negotiators are willing and able to endure lengthy or strenuous negotiations if they believe it’s the right thing to do.
Two Common Pitfalls in Negotiation to Avoid
Not thinking of BATNA
Before entering into a negotiation, you must be aware of the Best Alternative to your Negotiation Agreement (BATNA). This will give you the chance to sign the best deal you can. You know when to cut your losses, provide an option, and induce the other party to agree. At the end of the day, the fact that you have the option of a BATNA implies that your partner is likely willing to accept your terms because you’ve already given up your initial offer.
Failing to Listen
The ability to listen with empathy is essential when it comes to negotiation. It lets you understand the other side more clearly. In addition, you will be able to determine shared interests and opinions. Also, you could overlook crucial information while negotiating and end up with unsatisfactory results if you don’t listen properly. Listening effectively will give you the edge and prove that you’re dedicated to the negotiation.
If you’re willing to practice, you can be more effective in negotiations during business discussions or even everyday conversations. The more skills you can tick off from the above checklist, the more likely you’ll enjoy consistently successful results.