5 Negotiation Tactics

Engler Entrepreneurship Business Relations Officer Brennan Costello is an expert in teaching negotiation. Although he has many tips, here are FIVE TACTICS you can start using today!

•Tactic 1: Let the other person go first. You don’t know what you might miss. Stand your ground if they try to get you to go first by saying something like, “I’m considering a few things, what are you thinking?"
•Tactic 2: Establish a range. Example A: “At top places like X Corporation, people in this position earned between $60-80K.” Example B: “I’m worth $90K-100K based on experience, education, and skill set.” Get specific in the explanation.
•Tactic 3: Use specific numbers. ENDING WITH ZERO IS A PLACEHOLDER. When looking at $1200 or $1188.34, what seems better? The lower number because it seems as though a lot of time and effort went into coming up with the number. Therefore, it is harder to negotiate.
•Tactic 4: Embrace the power of silence. “No word was ever as effective as a rightly timed pause,” said Mark Twain. Get comfortable with pauses. Sit in discomfort. Twist the social fabric!
•Tactic 5: Always congratulate the deal. It’s about the other person. Relationships matter!
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Mastering the art of negotiation is a game-changer for people who seek to embrace the entrepreneurial mindset. Learning doesn’t stop after you earn a degree. The entrepreneur is always a student.

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