“New Negotiation Advice - This Is How To Close Better Deals”

“When negotiating, close better deals by incorporating tactics that create better strategies.” -Greg Williams, The Master Negotiator & Body Language Expert

?

?

Have you ever wondered how to close better deals when you engage in a negotiation? Do you experience fret when considering if the opposing negotiator will abide by the agreement? What do you do when that happens?

Discover how to close better deals and why that is important to your success.

?

As they sat at the negotiation table, Beth and John faced off. Their companies were on the cusp of a crucial deal, clouded by mutual mistrust.

Beth feared John’s corporation might prioritize profit over their agreed-upon innovation goals - reneging on key promises. John doubted Beth’s ability to handle complex compliance issues and worried she might cut corners.

Their skepticism became more apparent as they dissected each clause of the deal they structured. Beth planned rigorous milestone checks to ensure adherence, while John insisted on detailed, enforceable compliance benchmarks.

Negotiation is an unavoidable part of business and life. The ability to close a deal successfully can significantly impact building solid relationships and achieving career milestones. Let’s explore detailed tactics and strategies for closing better deals.

?

?

Techniques to Create and Reach Mutually Beneficial Agreements

Consider the following insights to reach better outcomes.

?

Identifying Needs and Interests

Every negotiation entails balancing all parties’ needs:

Needs vs. Wants: Differentiate between essential needs and stated wants when negotiating. Prioritizing needs ensures that you address fundamental interests, facilitating more constructive negotiations and better outcomes.

Concessions: Seek areas where each party can make non-threatening positional concessions that do not undermine their primary goals.

Using ‘What-If’ Scenarios: Propose hypothetical situations to explore possible outcomes and reactions. What-if statements gather information while not locking a negotiator into a position if either party does not wish to abide by the scenario.

?

Examples of Successful Mutually Beneficial Agreements

For example, consider a negotiation between a consultant and a startup business:

Consultant: Needs long-term clients and stable revenue.

Startup Business: Needs business insights at a lower cost to grow business.

Mutually Beneficial Agreement: The consultant offers the startup a three-month discount for a client testimonial and introduction to their business associates. This arrangement benefits both parties.

?

?

Effectively Negotiating the Final Terms and Conditions

As negotiations progress, good negotiators sense the outcome based on the negotiators’ position and flow. That allows them to control the end process of the final terms.

?

Tips for Using Concise Communication and Precise Language

Precision is critical in closing a deal:

Document Everything: Maintain detailed records of the discussed terms and agreements. It may be helpful to have the other party sign off on them to clarify their understanding and gain their buy-in.

Conciseness Counts: Vagueness can lead to misinterpretations. Use specific language and clarify all points. If you sense the absence of clarity, clarify the uncertainty.

?

Steps to Finalize Terms

1. Design an Agreement: Make a detailed draft with all terms and conditions based on the understanding of all parties.

2. Evaluate and Update: All parties should review and suggest edits. You can also gain insights into their mindset during this process.

3. Legal Review: Have a lawyer examine the document for loopholes and to prevent future disputes.

4. Final Approval: Get formal approval from all stakeholders in writing.

?

Addressing Last-Minute Requests for Changes

Flexibility is crucial when handling last-minute changes. When they occur:

Maintain Composure: Keep a composed demeanor and avoid displaying frustration. The opposition may sense your stress and use the point of your frustration as a bargaining chip.

Evaluate Impact: Assess the potential effects of the changes on the agreement.

Negotiate Attentively: Concede on minor points of importance to the opposition while seeking reciprocity for your more significant ones.

?

?

Reading and Interpreting Body Language Signals in the Closing Phase

?

Key Body Language Cues

Positive Signals: A few positive gestures to observe are nodding, leaning forward, and displaying upward palms. They signify agreement and interest.

Negative Signals: Folded arms, leaning back, and avoiding eye contact suggest resistance or disagreement.

Micro-Expressions: Facial expressions lasting less than a second offer insights into true feelings. A fleeting frown can indicate discomfort.

?

Modifying Negotiation Tactics

Based on detected body language, consider:

Reiterating Benefits: Emphasize the benefits of a positive outcome to address indecision.

Clarify: If you observe negative gestures, ask about their source to gain insight into the thought process of the opposition.

Become Adaptive: Alter your strategy to address issues revealed through body language.

?

?

Ensuring Beneficial Outcome for All Participants

?

Importance of Beneficial Outcome

The perception of beneficial outcomes builds long-term relationships and trust:

Satisfaction With Outcome: All parties should feel they achieved essential goals.

Future Collaborations: You’re always negotiating! A satisfied partner is more likely to engage in future deals amicably.

?

Maintain Post-Negotiation Relationships

Communicate Frequently: Maintain open lines of communication to address potential post-deal issues.

Display Gratitude: Acknowledge the collaboration and express appreciation for the partnership.

?

?

Post-Negotiation Follow-Up and Implementation

?

Follow-Up Actions to Maintain Goodwill

Feedforward Sessions: Schedule sessions to gather feedforward insights and make adjustments if necessary.

Reporting: Share updates with stakeholders to project transparency and trust.

?

Process for Effective Implementation

1. Assign Roles: Clearly define who will do what per executing the agreement.

2. Create Mile-Markers: Establish clear mile-markers/timelines for each deliverable.

3. Track Progress: Continuously review progress against agreed terms.

?

Potential Pitfalls and Avoiding Them

Miscommunication: Ensure clarity in all communications. Avoid assumptions.

Change Resistance: Address resistance with understandable and clear logic based on the benefits of the agreed terms.

Commit to Follow-Through: Regularly check and review commitments to ensure compliance.

?

?

Reflection

Closing better deals does not have to be complicated. By applying these strategies and techniques, negotiations can conclude with successful, mutually beneficial agreements that promote long-term, productive relationships.

Whether negotiating major business deals, simple contracts, or life’s personal intricacies, once you master the art of closing better deals, you will close deals better. And everything will be right with the world.

?

Remember, you’re always negotiating!

?

Listen to Greg’s podcast at https://megaphone.link/CSN6318246585

?

After reading this article, what are you thinking? I’d like to know. Reach me at [email protected]

?

To receive Greg’s free “Negotiation Tip of the Week” click here https://www.themasternegotiator.com/negotiation-speaker/ ?? and sign up at the bottom of the page

?

?#TheMasterNegotiator #GregWilliams #negotiation #CsuiteNetwork #HarvardBusinessReview #NegotiationTraining #NegotiationSkills #GlobalGurus #100Coaches #NegotiationPodcast #AskTheExperts #LeadersHum #MasterNegotiator #Thinkers50 #BodyLanguage

Terry Jackson, Ph.D. 鲍威尔 John Baldoni ??Linda Swindling Eddie Turner Andrew Nowak Evelyn Rodstein Jonathan Low, Global Speaking Fellow, CSP, MCC Bill Flynn Mitchell Levy, CCS Doris Young Boyer Dr. Oleg Konovalov Molly Tschang Todd Cherches CB Bowman-Ottomanelli Courageous Leadership EXPERT - CEO ACEC Doctor Philip Brown Morag Barrett Lois Creamer Brenda Bence, Ranked Top Ten Coach Globally Howard H. Prager Amii Barnard-Bahn, JD, PCC Alaina Love Sarah McArthur Jenny Fernandez, MBA, 费 珍妮 Joyel Crawford, MBA, CPCC, PHR Francoise Orlov, PhD David S. Cohen Andy Martiniello Mahesh M. Thakur, Chief Product and AI Officer Keith Ferrazzi Ken Pasternak