Knowing how to steer a conversation and gain the other party’s attention is an important skill
required to become a negotiator. Negotiation is all about understanding the other side, identifying
things of emotional value for each party, and trying to create a win-win situation by offering the least
concessions. This is why it has been observed that the power to negotiate is rarely one-sided, though this tends
to deviate as the discussions progress. In any negotiation, it’s crucial to navigate key points
strategically, ensuring your perspective is fulfilled rather than concluding the discussion in a onesided manner. It is important to provide mutual respect and incorporate feedback in a negotiation.
Imagine the scenario. When negotiating for the beach house instead of the lake house from your
parents, acknowledge their emotional ties to the beach house while emphasizing the value of the lake
house. Consider their perspective, prioritizing their sentiment due to your emotional bond.
Contrastingly, with a dealership, leverage your excellent credit history and existing car ownership to
negotiate a better deal. Perhaps request additional benefits like free coatings and maintenance.
Similarly, in negotiations, identify the other party's pain points and address them. For instance, as a
real estate investor, understand a seller facing foreclosure and propose solutions like assuming their
mortgage while transferring property ownership. This resolves their financial stress, benefiting both
parties. Through such negotiations, you can acquire property without a down payment, fostering a
win-win outcome. Negotiation, therefore, is a skill that is essential to be understood and utilized in
every aspect of your life.
The important aspect of negotiation remains the same; each side has something unique to offer,
against which a certain level of control and pressure is exerted. At the end of the day, a skill, product,
or service is required, and the balance in the negotiation continues to shift throughout the negotiation
process.