Seven Negotiation Mistakes - Business Negotiation Services

When you are negotiating a contract there are a lot of opportunities to make a mistake.? Here are seven negotiation mistakes that can trip you up:

?1.?Not being prepared.? Time spent on preparation is never wasted.? If you are prepared, you come across as professional, confident and knowledgeable.? If you are not prepared, it will show and your counterpart will know and take advantage of your lack of preparedness.

2.?Giving the other party too much power.? Not recognizing your own strengths and handing power over to the other side can be disastrous.? You put yourself at a disadvantage and do not appear like you believe you own offer.? Negotiate from a position of strength, for all you know the other side may think you have all the power.

3.?Assuming you know the other side?s wants and needs.? Making offers that the other side is not interested in or that do not meet their goals is a waste of your time and possible giving away advantages that you do not need to lose.? Take the time to see where the other party is and what they want.

4.?Making your first offer at your minimum price.? Why take the time to plan and develop a range of value, if you are going to toss them away with your opening offer.? I see people tell me what it is that they want or what is their best price and it never reaches the table.

5.?Negotiating the price first.? You should negotiate your price last after you know what the terms and conditions are going to be.? The assumption of risk lies in the terms and you are courting disaster by not knowing and factoring in risk as part of the price.?

6.?Aspiring to a minimum level of achievement.? You get what you aspire to.? Enough said.

7.?Not accepting a reasonable offer.? Getting greedy or squeezing the last dime out of a deal can backfire.? You can create resentment, get poor performance, and retribution by overreaching; not to mention possibly causing the other party to walk away.

Avoiding these negotiation mistakes can help you make a better negotiator and bring you dividends by getting a better deal when negotiating a contract.

Source: http://businessnegotiationservices.com/seven-negotiation-mistakes/?utm_source=rss&utm_medium=rss&utm_campaign=seven-negotiation-mistakes

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