How can I avoid getting taken advantage of in negotiations?
Negotiation
Perspectives from experts on the questions that matter to improve your negotiation skills.
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If you're not careful, it's easy to get taken advantage of in negotiations. Whether you're negotiating a salary raise with your boss or the price of a car with a dealer, there are a few common ways people end up getting taken advantage of. Here are a few tips on how you can avoid that outcome.
Do your research
Before you even start negotiating, it's important to do your research and know what you're talking about. If you're negotiating a salary raise, for example, you should know what the average salary is for your position and what others in similar positions are making. This will give you a good starting point for your negotiations and help you avoid an unfavorable situation.
Don't be afraid to walk away
If you feel like you're being taken advantage of, you have every right to walk away from the negotiation. This can be a tough thing to do, but it's important to remember that you're not obligated to agree to something just because someone else is trying to push you into it.?
Make sure you’ve established your bottom line. This is the absolute minimum you're willing to accept in a negotiation. If the other person isn't willing to meet your bottom line or meet you halfway, then you're better off walking.?
“The sunk cost bias keeps us from walking away from an unprofitable situation. The logic says I've already invested so much time, energy and money in this negotiation, I have to see it through to the end. This can keep us from exploring alternatives and lock us in unhealthy partnerships…You can overcome this by considering which other suppliers you are not pursuing because you're locked into this deal…Focus instead on the opportunities you could pursue if you leave this negotiation unfinished.”
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—Carolyn Goerner is a professor at Kelley School of Business and the founder of Practical Paradigms.
Avoid succumbing to your emotions
It's important to remember that negotiations are not personal. Try to keep your cool. Allowing your emotions to dictate how you behave will only make it harder to reach an ideal outcome.?
“One [key] tactical negotiation skill is silence. People tend to get uncomfortable with too much white space. And in that silence, they'll often step in with the very solution you were looking for. So take things slowly, listen, label, mirror, and use silence to nudge the conversation forward and to create more potential for agreement.”
—Lisa Gates is a career and leadership coach. She has over 15 years of leadership experience.
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How this article was made: This article is a beta test. It was created by having an AI generate an initial answer to a question. The response was then fact checked, corrected, and amended by editor Anamaria Silic. Any errors or additions? Please let us know in the comments.
Developing and Growing my career in the Airline and Aviation Industry
8 个月Here's my experience of me getting taken advantage of, spread the word https://youtu.be/0IWIVxEnS-I
In my experience, you need to do your research and establish a baseline of things you will accept such as: Minimum and maximum prices, service expectations, warranties and guarantees, length of the agreement. Also, everything needs to be in writing as many promised are made that can not be kept by the person making them. Finally, you need to be willing to walk away when the deal is not fair.
Principal | Commercial Real Estate | Hospitality Management | Strategic Operations | Cross Cultural Expertise | Market Growth Specialist | Financial Analysis | Business Transformation with Innovative and Cultural Insight
2 年Know your own boundaries but equally important know who is on the opposite side of the table. Research the person/company to understand their values and their reputation. Lots of information available so know who you are up against. Have a few throwaways that do not matter much in the negotiation to you. Paused before you answer if even if you know the answer. It shows reflection on your part but also may give the opposite side a little hesitation.
Absolutely right do your homework, learn as much as you can about the situation. During the negotiation try to get the other party to talk as much as possible. They will sometimes tell you what they are looking for and let you know what you need to do to get their agreement. They best tactic sometimes is to just shut up. Showing empathy too helps "I understand how you feel, if I do a b or c will that be enough for you?"
Regional Sales Director | Oncology Diagnostics, Natera
2 年Don't only think of your worth in general terms; if you're negotiating with someone at your current company, chances are that you have already brought significant benefit to the table. Highlight your worth to THEM. What have you done for the company during your tenure, and what more can you see yourself bringing to the table in the new role or capacity you're asking for?