Negotiation Skills how to improve them. Mastering The Art Of Negotiation.

Former BBC Dragon Shaf Rasul has negotiated countless deals over the years and here are his Seven Hacks for negotiation and business success.

#negotiation #Entrepreneurship #7hacks
1. BE CLEAR AS TO WHAT YOU WANT
Work out what you are trying to achieve, and don’t be afraid to ask for it. Be assertive, but don’t be rude or aggressive. Look after your own interests but be aware of what the other side wants too.

2. BE PREPARED
Do your research on the other side before you are sitting across the table from them. Investigate the company’s history, do a credit check on them, know about previous deals, check newspaper cuts and Google them. The more you understand their situation, the more power you will have when negotiating.

3. DEAL WITH THE DECISION-MAKER
There is no point spending time honing a finely-tuned deal only to discover that it can’t be signed off by the other side because the person you are dealing with doesn’t have sole authority. Always deal with the organ grinder, not the monkey. Make sure you are negotiating on a level playing field. If they have an adviser or lawyer in the talks, ensure that you do too.

4. ALL EARS
Success in negotiating comes not to the person who can shout the loudest but to the person who listens. If you ask the other side about their requirements, they will tell you how to get your way. Concentrate on what they are saying and take heed of it. Don’t leap in with your views or show your hand too early. Let everyone else speak, then you can take control to steer the meeting towards your aims.

5. TIT FOR TAT
Don’t give something away without getting something in return. Know where and when you are willing to concede. Don’t simply cave into the other side’s demands without ensuring your side is getting a need met too.

6. AIM HIGH
Find a starting point that’s higher than the point you would still be happy to make the deal at. Always be prepared to lower your prices so always initially ask for more than you would settle for. Remember you can always come down from your first price but you can never go up.

7. WALK AWAY
This is a last resort but it’s important. Be prepared to walk away from the table, permanently if need be. Never be so desperate that you are willing to do a deal at any cost. If you do, you might as well throw the towel in. Always trust your instinct. If you know deep down that the deal isn’t right for you or your business, then don’t ignore these warning signs no matter how much you want the deal to get over the line.

Social Media:

[razwanali]

Words don’t do justice to what a great video this is. So many years of negotiating experience in that video and such valuable tips when entering a negotiation. Thank you for sharing Shaf Rasul.

[sriraminenibharath]

This is one the best videos of how to improve your negotiation skills. These 7 hacks makes lot of sense when you compare it with your past experiences where you have failed in negotiations. Thanks to Shaf to put them all together to make one understand the power of negotiations.

[natashamaswera]

Fantastic video...just what I needed as I'm new in the Glasgow business circuit, thank you 👍

[reecebuckley]

Such a good series of useful videos - especially for people like me starting up!

[KennyTelfer]

Very true Shaf, another hack for your subscribers - I've hit the little bell button above next to the subscribe button so each time you post a video I get an email and pop up telling me a new one is available. :)

[damiendecentralised]

Shaf, these videos are amazing. Thank you so much for putting this information out there especially when you clearly do not need to 😊 I'm on about my 5th video tonight 👍

[markkeane]

I'm currently engaged in high stakes negotiation. This #7hacks short is a potent formula for success. It has helped me to identify and uncover other parties' strategies that were invisible until now.