Thursday, October 6, 2011
Negotiating for Dummies
I royally fail at price negotiation. There's no way around it. I feel uncomfortable making exaggerations, and I'm nervous that if I threaten to walk away, then I'll lose what I want. I set my goals low, accepting early defeat. However, after reading Secrets of Power Negotiating, I think I may be able to turn things around a bit. Roger Dawson offers several pieces of advice. For example, he recommended making extreme offers in the beginning. The offer may seem ridiculous to me since I know a realistic amount to accept, but the person I'm negotiating with may not know that. By setting an extreme price, the person I'm negotiating with may rethink what they know about the product or service, and switch up their offer. Dawson also recommends flinching, which seems very dramatic but can make the other party think that you are genuinely upset by their offer. Dawson also recommends offering concessions to move a split difference in your favor, and to be willing to walk out on a deal. If you aren't willing to walk out, you may as well not even bother negotiating. The key is to remember that both parties want to get something out of it, and if the other person feels more at risk for missing out, they may be more willing to give you the deal you want.
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I really liked this article. At the beginning, I was also oblivious to the extreme offer concept, but later realized that it is one of the most vital aspects of negotiation. His article also taught me that if one has to negotiate often, that individual has to be very bold and daring. These characteristics are also essential to survival in the business world in general. If one is not bold and aggressive, they will simply be taken advantage of by those with more power than them. I felt that this exercise was a good way to help us become more bold and daring, which will ultimately benefit us in the long run when we start our careers in the business world. I feel that starting in the business world with a bold and daring personality will result in quicker promotion, and more respect among co-workers.
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