In the business world, engaging in negotiations can be a productive and constructive way to achieve a mutually-beneficial outcome in a given situation. However, negotiations must be handled tactfully and professionally, lest one party risk alienating or offending the other and walking away with less than they had anticipated—or nothing at all.
Many Forbes Coaches Council members have guided their clients through preparations for critical business negotiations and understand the balancing act that achieving mutual interests entails. Below, 15 members share their top tips to help all parties feel satisfied with the results of any negotiation.
Members pictured from left to right.
Photos courtesy of the individual members.1. Negotiate With Yourself First
Start all negotiations with yourself before engaging with others. Why is this negotiation important for you? What would success look like for you and for others? What permissions do you give yourself to negotiate? These reflections will give you the confidence to engage. Negotiating is about both taking a stand for something and being curious enough to open up new opportunities that can serve both parties. - Sarah Needham, Unique-U Coaching
2. Find Out What Your Client Really Wants
Ask what your client wants several times, in different ways. We often walk into negotiations assuming what our clients want (to pay less or get more, for example), and if we are wrong, we negotiate our profit away without understanding what our clients really wanted. Seek to understand first, and then be willing to walk away if you cannot provide what they really want. - Cindy Lamir, Impact Business Coaches
3. Shift Away From The Negotiation Mindset
“Negotiation” is the wrong word. Think of it as an act of influence and persuasion. That is a mindset shift. As soon as I hear “negotiation,” I think winner-loser. The words “influence” and “persuasion” are more expansive and fluid. The fabulous work done by neuroscientists such as Dr. David Rock in the past 20 years underlines the importance of reframing our mindsets around the topic of negotiation. - Antonia Bowring, ABstrategies LLC
4. Envision The Possible Outcomes Of A Win-Win Situation
We negotiate all the time—everything from where to go on vacation to the terms of an acquisition. When you envision the possible outcomes, you give yourself time to think through the other party’s reaction and gain insight into which strategies and tactics you may want to employ. Seeking to win at all costs may cause you to regret it. - Wendy Fong, Chief Gigs
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5. Remember That It Is Always About The ROI
Listen carefully, and really understand what the other person needs and wants. Don’t make assumptions. Keep in mind that it is always about the return on investment and not about the price. - Melissa Leich, Growfused
6. Know When To Be Quiet
Negotiations can be tricky, but there are some keys to them that can help you negotiate most effectively. In a negotiation, you have to know when to be quiet, because the first to speak always loses. Never answer your own questions in a negotiation either; ask them, and then be silent and wait for the answer. Being quick to listen and slow to speak can make for effective negotiation tactics. - Jon Dwoskin, The Jon Dwoskin Experience
7. Listen With More Than Your Ears
Listen in every negotiation. Listen to everyone, and listen before, during and as you end the negotiation. Pick up on nonverbal cues and observe when there is silence, a pause or hesitation. As they say, “We eat first with our eyes”—so listen with more than your ears. Information is power in a negotiation, and listening broadly provides a treasure trove of information to aid in negotiations. - Kathy Morris, Under Advisement, Ltd.
8. Find Out What A ‘Win’ Is For The Other Party
Ask enough questions to understand what a “win” is for the other party, or what they most need out of the negotiation. Share your needs honestly and then work together to achieve a win-win for you both. If you want to maintain the relationship over the long term, both sides must benefit. - Jennifer Wilson, ConvergenceCoaching, LLC
9. Verbally Presuppose A Mutually Beneficial Outcome
We can verbally imprint the desired outcome on negotiating parties by using language tools, such as presupposition. For example, start by saying: “We have come to this meeting to find a resolution that will satisfy the needs of both parties.” Presupposing this outcome sets a positive tone and de-escalates a potentially charged situation. - Sonia Maslovskaya, SoniaMPower
10. Use Positive Self-Talk And Visualization
When it comes to negotiating a raise, salary, promotion, new business, consulting rates and so on, confidence is key. This is especially true for those who aren’t natural-born sellers—introverts, creatives and those with lower self-esteem. Before going into a negotiation, use the proven practices of positive self-talk and visualization to boost yourself up. - Alanna Fincke, meQuilibrium
11. Don’t Push Your Short-Term Agenda Too Hard
If at the end of the negotiation one party is extremely pleased and the other is dissatisfied, the outcome is probably not one that is fair, and it is likely to damage any ongoing relationship. Remember not to push too hard for your short-term agenda with clients, or you could damage the relationship in the long term. - Glenn Grant, Selfassembled Ventures
12. Always Strive For A Win-Win Solution
I always go into a negotiation with two things I want to achieve. First, I want to understand what is most important to the other party. Secondly, I want to make sure that a win-win solution is negotiated. This means that negotiations are always fair and look after the interests of all parties. - Bronwen Sciortino, sheIQ Life Pty Ltd
13. Treat Negotiations As Relationship-Building
Treat negotiations not as single transactions but as part of building relationships. Most of the critical work happens outside of the negotiation table. I find this to be most helpful in sales negotiations, especially when the negotiator is an underdog. - Joyce Talag, Joyful Transformations LLC
14. Anchor The Conversation With A Number
If you fail to prepare, prepare to fail. Negotiations start before you enter the room; therefore, doing the right background work is key. Know what you bring to the table and why someone may want to do business with you. Money isn’t always the main factor. Being the first to name a number can help anchor the conversation, and it can become a reference point for future negotiations. Be aware of this tactic being used on you. - Shamila Mhearban, Shamila M. Ltd
15. Use The Mirroring Technique
My No. 1 negotiating tip is to use the technique of mirroring as taught by Chris Voss. This involves repeating the last few words or phrases the other party has just said. Not only does this allow you to confirm and clarify their statements, but it also subconsciously makes them feel understood and heard. - Peter Boolkah, The Transition Guy
