Building a sustainable business goes hand in hand with investing in relationships with your employees, partners and clients. A certain guidelines or negotiation strategies are vital for growing your business. Make sure your colleagues follow in your footsteps, but also allow them to develop their own unique communication style.
In our work we often negotiate the contracts, meaning we are an intermediate between the future employees and employers. We aim for two parties to meet at the middle, sign the agreement and build those working relationships for years.
In business literature there are three main approaches to negotiation:
– The hard approach: It involves using some competitive edges to get other parties to agree to your terms.
– The soft approach: It involves meeting the other party’s needs and agreeing on their terms. It often helps in building sustainable long-term relationships.
– The principled approach: Involves identifying objectives and seeking options that best satisfy both parties. The aim is to create a win-win situation.
The principled negotiation is considered to be the best. It is the most flexible one, and it supports the idea of negotiation. Instead of putting emotions first, a principled negotiator understands the other party’s concerns. It also involves identifying the needs and motivations of the other party as well as your own.
Here are some tips that can help in improving communication:
– Prior to the meeting it’s recommended to have an agenda drafted.
– Clarify expectations and goals.
– Ask open questions to understand this situation.
– Give time to another person to finish the point.
– Feedback what the other one said, to make sure you are following.
– Be transparent about your motives wherever possible.
– Discuss pros and cons of each option.
– Come up with a win-win option.
– Follow up with an email or summary after the conversation or meeting.
So, whether you are a budding entrepreneur or looking for a new job, focus on the interests and creative options that benefit both parties in the long-run. Think about what value you can add to the business and what you can offer. Be clear about what you want in return.
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