Improve Your Sales Negotiation Skills By Applying And Countering Power In Negotiation
How can you invent influence and leverage for yourself in negotiations?
Is there a negotiation skills technique to counter the power held by your counterparts in negotiations?
There is a way that you can consistently create authority for yourself whilst simultaneously challenging the power of your counterparts. If you consistently use this technique, you will be rewarded with a significant improvement in the quality of the transactions that you close.
You will find many books about the authority that can be found in negotiations. Below are some examples of the things that might provide you with some power, which you would have come across in your sales negotiation training:
* Status & title (you or your position may be held in high regard)
* Physical appearance (you may be big physically or be deemed to be physically attractive)
* Organisational rank (your organisation may be deemed powerful)
Whilst the aforementioned are instances of some of the things that may award power on you or your counterpart in deals, without a shadow of a doubt, a very important factor to creating power for yourself in negotiations is to create other possibilities. You will never have as much authority in a transaction as you will have if you are not restricted to one choice only. If you can place yourself in a position where all you have to do is choose between options, then you will always guarantee that you have both power and leverage in your deals.
The strange thing is that whilst we do think of alternatives when we negotiate we tend to make two key mistakes:
1. We think about alternative options too late in the negotiation process. Normally, we only start to think about alternatives when we recognise that we are in a stalemate or in a difficult position. The issue with thinking about alternatives late in the negotiation process is that we might find ourselves in a position where we have no time left and then we may be compelled to accept a result we would have wished to avoid. The key to effectively developing alternatives is to do so even before you commence negotiating.
2. We do not really invest ourselves in creating alternatives. Whilst we may think about options, often we do not put in place specific actions to explore these options. It is key that once we've identified possible alternatives that we actively engage in exploring these options. If you want both power and leverage in your negotiations, then you will have no option but to explore fully all the alternatives available to you. As a matter of fact, you may even have to create some alternatives if there seems to be no alternatives available.
Do not forget that successful negotiations and creativity go together. Here's a word of caution though. Use your negotiation training, because you should carefully think about whether you should let your counterparty know about the options that you have at your disposal. If you are in a very competitive negotiation environment then there is not much harm in letting your counterpart know that you have many alternatives available. However, if you are in a collaborative position, it may be best to not openly reveal the options available to you as this may have a counterproductive impact on your relationships.
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