There have been many times in my various careers that I’ve had to negotiate something. Its been job raises, hotel contracts, greeting card suppliers, and my services of my current business. I have learned a couple of things that I want to share with you and hopefully it can aid you in your next negotiation.
One of the fundamental keys to successful negotiation is to be certain of what you want to achieve and what you are willing to settle for. The other key is to know, as best you can, what the other party’s true needs and objectives are. In negotiating salary increase requests from employees, for example, it is essential to solicit the employee’s perspective and to be able to accurately assess what may not be said. With vendors or clients, knowing their bottom line (how far they are willing to go) as well as your own leveraging strengths with them is critical to negotiating deals that are mutually acceptable.