Arriving at a mutually-agreeable negotiation will be very difficult without the skills of granting concessions. In a negotiation, rarely will a party get everything that they wish for. Each party should aim at getting the best possible deal, until it is acceptable to the other party.
Active listening and focused speaking are necessary to establish your needs and your level of acceptance, while complying with the needs of the other parties. Some of the most significant skills required for successful negotiation are −
A sense of humor and a positive attitude are necessary, as they make both the parties feel comfortable with each other. However, in some cases, no matter how cordial you are to one another, negotiations may turn sour. In such cases, it is essential to be able to think from the other party’s angle, while being positive.
You wish to get as much as you can out of the deal, but the other parties too need to get what they can. A feeling of mutual respect should prevail among both the parties. Not making concessions, while demanding the same from others results in a dissatisfied negotiation.
It is also important to ensure your satisfaction, irrespective of the regards you have for the other parties. Good negotiators always emphasize on balance. Concessions should be made to secure what you can get. So, you must ensure that you are not beaten down to a minimum in the end.
Some of the additional attributes to consider that may affect negotiations include −