Negotiating is a part of all of our lives. Whether we are negotiating for a higher salary, the best contract terms possible – or even the rent with the landlord or the children’s bedtimes, it is something that we do every day and maybe you don’t even know that you are doing it in the day to day.
Some negotiations are short conversations and can be agreed quickly, and some will last over months, maybe even years in the world of Business. It’s all about stamina and knowing what you want to get out of the negotiation.
When all is said and done, negotiation is all about building relationships and getting what you want and need from that business relationship. Today, we discuss the key phrases that you didn’t know you needed and will not be able to live without after reading this.
‘I am afraid that I had something different in mind… let’s discuss this further…’
Here, you have made the point that the first offer made will not be acceptable to you and you are about to start negotiating on terms that work for the both of you. A negotiation is not a dictatorship about the person with the most power (the buyer, the senior manager) imposing their will upon you, it is an open and honest conversation about what you can do for one another.
If they disagree to discuss further, then take a look at our blog article of disagreeing politely and move on from there, making your point clearly.
‘What are you looking for with regard to price/product/salary?’
The point here is to get the other party talking about what they actually need and how you can meet that need – if they can also reach to what you need as well. You would like them to communicate what they want and also state their position first. You should firstly get further knowledge as to what they need and what’s important to them so you can push what you can offer that meets that need and why it is worth the extra money or whatever it is that you want from the negotiation.
Yes, it is stalling, however, the information you get will be vital in making your next steps – make sure you listen very carefully.
‘Let me reassure you that…’
Here, you are making the points that what you can offer is worth what you are asking for. Give concrete and tangible answers to the benefits of what it is you are offering and do not rely on emotion to get what you want. No one cares if you will be in trouble with your wife or your boss if you don’t get the figure that you want.
‘How about if we adjusted…’
If you are going in for a lower price on something, you are not going to want someone to have something for nothing, otherwise you are going to come away believing that you have lost something. The best business relationships rely on a win/win situation. If you are in a position to drop your price, then they need to offer something in return – like a longer contract term or working less hours for that money.
‘I understand what you are saying, however…’
This is for when someone has given an objection and you need to justify or elaborate on another point. Here is where confidence comes into play about stating what you want. You may find that close to this point, you are about to do a deal, or you cannot come to an agreement.
That’s right. Silence. Think about what you have said. Think about what they have said. Silence is deafening and don’t be afraid of it. Everyone needs time to think. There are some cultures that during negotiations they may be silent for a very long time. Hold your nerve if they are the one being silent. Continue to think yourself. Are you getting what you want and will everyone be able to walk out of the room with a win/win situation or No Deal.
‘After careful consideration…’
This can work either way for a positive ending or walking away. This is polite and professional and hopefully will win you the deal you want. However, if you could not come to an agreement, at least you know you have done all that you could.
What are your go to phrases for using in a negotiation, tell us in the comments below.