Knowing some of the most common mistakes in negotiating will help you to be aware when they are encountered. Unfortunately, being aware of them will not always keep you from making them! Luckily, one of the best ways to become a top-notch negotiator is to make a few blunders and learn from them. Just like any other mistake, we do not always believe what others tell us; we have to suffer firsthand before we believe. Is the game completely over if you make one or more mistakes during negotiation? Not likely, if you know how to recover gracefully. If you make a big error, you might lose out on the deal, but if you allow yourself to learn from the situation, at least all will not be forsaken. In this article, we will discuss the most common mistakes made in negotiating and how to buffer the impact of those mistakes if you make one.We also will discuss some possible ways to turn around a deal gone bad stemming from a mistake that you, or someone on your team, made. Finally, if retrieving the deal is a completely lost cause, then you may still be able to leave the meeting with the respect of the other side and valuable lessons to carry with you into your next negotiation.
Top Negotiating Mistakes to Avoid:
Using Trust, Human Behavior, and Psychology for Better Negotiations
The psychology of human behavior in business cannot and should not be underestimated. Ideals that most of us live by and cherish, such as trust, honesty, and integrity, still count, although it may often seem otherwise in the current business climate. Despite the plethora of scandals and bad behavior among the business elite in recent years, the majority of successful businesses operate ethically.
Human behavior is closely linked to psychology. Many successful business people have come to understand the power of psychology when it comes to business affairs. Never is this more applicable then when it deals with negotiation. Having a clear understanding of human nature, behavior, and psychology will prove to be a valuable asset in bringing about positive results in the bargaining process.
Of , you might very well be up against an opponent who is equally knowledgeable, in which case you may end up in a stalemate in which no one is giving anything away. However, even when up against an opponent who is schooled in the nuances of human behavior, some small advantage might be obtained from your due diligence and alert attention. In addition to watching the other side, you also should be aware of what you and/or your colleagues are giving away by your reactions and actions.
Like any other relationship, the associations and contacts we make in the business world are based on a formation of trust and mutual benefit. Negotiating can be an opportunity to strengthen these associations. Alternatively, they can lead to severed ties, lost accounts, and lost allies. The way you conduct yourself in business and in negotiating will reflect to others what kind of person you are and help them decide if you are ultimately someone they want to continue doing business with or someone they want to avoid. Likewise, you will begin to know better whom to trust and whom to steer clear of.
Our physical movements and reactions speak volumes without our even realizing it. This form of communication can make an enormous difference in how much ground you can gain in a negotiation situation. Not only does the use of understanding body language increase your ability to clearly communicate, it also helps you read what others are not saying.
Common Body Language Cues:
Clenching of the jaw: tension, annoyance.
Tapping fingers: impatience.
Crossed arms: distrust, self-protection.
Throat clearing: used to get attention or politely interrupt.
Darting eyes: distraction, deceit.
Hunched shoulders: discomfort, distrust.
Open palms: trust, openness, acceptance.
Chin up: d
Avoidance of eye contact: fear, shame, embarrassment, deceit.
Direct eye contact: confidence, honesty, agreement.
- Achieving a Win-win Negotiation
- The Basics of Negotiating
- Negotiating with Another Culture
- Problematic Situations when Negotiating
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