Whether you are trying Negotiation plays a key role in business, whether you're negotiating a price with an important customer or reaching an agreement with a potential business partner. But negotiating is not a skill that comes naturally to everyone, and some people struggle to strike a balance between getting what they want and getting what the other party wants.
Mastering the art of negotiation takes practice, but keeping the following tips in mind will help you improve your skills faster and achieve the best results. Below, business leaders from the Rolling Stone Cultural Council draw on their years of deal-making experience to share their best advice for becoming a master negotiator, no matter your industry.
Starting from common ground
Rooting the conversation in a place of shared goals and existing agreement is the best way to deepen it. From there, as Ted Lasso says, “Be curious, not critical.” When there are disagreements, seek to educate and understand. Understanding is the key to reconciling different approaches and building more common ground. – Scott Curran, Beyond Advisers
Do your due diligence up front
It's important to have a deep understanding of what you're selling and what value you bring to the table. Do your due diligence up front and know a fair starting point and absolute limits so you can approach the situation with confidence and a fair solution in mind. Too many people don't do the work up front and just rush in with the sole purpose of “winning.” They can end up sacrificing too much for unsustainable results. — Dustin Eide, CanPay
Find a way for both sides to win
I approach negotiations with the simple premise that both sides want to win. If not, you're starting from a fundamentally adversarial place. This may suit some industries, but I don't think it suits creative endeavors, nonprofits, or the arts. In most cases, you can find a win-win arrangement. When that's not possible, you need to redesign the contract. — Jed Brewer, Good Loud Media
Rolling Stone Culture Council is an invitation-only community for influencers, innovators and creators. Am I eligible?
Show that you are interested and paying attention
Listen carefully. Pay attention to your body language. Show that you're genuinely interested in what the other person is saying. Write it down in bullet points if you can. Often, both parties are asking for the same thing but using different words that have similar meanings. I ask if we agree on this, this, this, or what if I did x on this point. Both win. – Susan Johnston, New Media Film Festival®
Leading with Education
I start with education. Educating your prospect in an introductory meeting allows you to show them the full value of your services and pricing. Part of being a good negotiator is understanding your prospect's needs. Putting yourself in their shoes helps you find a solution that works for everyone. Also, knowing what you want and having a backup plan gives you more confidence in negotiating. – Jason Hennessey, Hennessey Digital
Overview of what you want to achieve
Take the time to carefully outline what you want to accomplish and what you will offer along the way. Keep in mind that in most cases, both parties are looking for common ground, so be specific and thorough in your approach, and be prepared to fully embrace and adapt to the outcome, whatever it may be. – Michael Klein, Sunset Amusements
Practice empathy, patience, and listening
It requires empathy, patience, and the ability to listen. Empathy allows you to set aside preconceived notions and see each other's positions. Patience allows you to realize that Rome wasn't built in a day and that sometimes you need to wait a little. Listening allows you to truly understand what is not being said or what lies between the words that are actually being uttered by either side. – Zain Jaffer, Zain Jaffer Foundation
