4 business negotiations rules

Communication is the basis of any successful business. Almost every entrepreneur faces negotiations. Finally, you’ll have to negotiate with your customers. To successfully hold them, use a few tips.

More listening, less talking. Start any negotiations by asking about your customers’ expectations. By letting them speak, you can learn about their needs. The key is to understand what really concerns your customers, and not just repeat your ‘unique’ trading offer over and over again.

Make a list of goals in order of importance. Consider what you are ready to give up. Adam Grant, professor at Wharton School of the University of Pennsylvania, recommends a ranking strategy. For example, long-term cooperation is better than instant profit. If the first goal fails, go to the second.

Drop anchor. You should approach any negotiations, knowing the minimum price you are ready to agree to. This is your anchor. This is the smallest amount you can settle for, covering your expenses and making a profit. When negotiations are stalled, it’s time to use the anchor.

Control emotions and don’t take everything at face value. Any techniques you use can be used against you. If a customer gives you a sense of advantage, this is a clever maneuver. Don’t rush to make concessions.