… Good article by Michael Sanibel. Thanks. – Mouaz

“A practical guide to getting what you want, when you want it, at the price you want.

Negotiating is a part of everyday life, but in business it’s absolutely critical to your success. Poor negotiation can cripple a company just as quickly as losing key customers. While most negotiating strategies seem like common sense, it’s not uncommon for people to get caught up in the emotion of the moment and ignore their basic instincts. Emotion, luck and magic have no place in a successful negotiation. It takes an iron gut, homework, street smarts and unblinking discipline. These keys will unlock your ability to get the best deal possible under any circumstances.

While experienced negotiators sometimes refer to their methods as the “negotiating game,” it’s really a misnomer for a process in which the stakes are often extremely high. Check your ego at the door and keep your eye on the big picture at all times. This is all about business.

Preparation is KeyKnow about the party you’re negotiating with so you can capitalize on your strengths and the party’s weaknesses. If the other party is very experienced, that means he also has a history that could contain useful information. If possible, talk to business associates who have dealt with this person before. Many negotiators develop patterns and certain styles that you may be able to use to your advantage.

If you are a buyer, make sure you are thoroughly familiar with the product or service that will be the subject of the negotiation. If the other party senses you are weak on such details, you may be a prime target for a bluff or another technique designed to create anxiety and uncertainty. Psychology plays a crucial role in your ability to make the most of the other party’s lack of preparation and anticipate their next move.”

… Read the full article here: http://www.entrepreneur.com/money/howtoguide/article203168.html

The Art of Negotiating
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