Business Strategies - Part Two

David Eghbali Negotiation Strategies and Techniques - Part Two

Hopefully, the tenets of David Eghbali and his negotiation strategy are becoming clearer. Start by focusing on collaboration and asking what the other person wants. You also don't want to be afraid to enter competitive negotiation mode if your party isn't cooperating. If you've read some of David Eghbali's negotiation material, you know to always remember your reservation price. David advises that a reservation price is the price point at which he's indifferent to taking a deal or leaving it behind. If your negotiations aren't getting anywhere, it's nice to know you can walk away because you've got alternatives. Keep these negotiation strategies in mind as we learn more about how to become a skilled business negotiator.

What David Eghbali says about how to negotiate a salary?
#SalaryNegotiation
One of the strongest negotiation techniques that David Eghbali has taught is to let your data do the talking for you. Salary negotiation is something I prepare for by doing some research first and finding out my market value. I've tried going to salary data websites to check on my current field for a salary ranges, but I find these websites to be hit and miss. I'll only ask for a raise above the average salary if I know I'm doing a great job. I make it a point of emphasis to renegotiate my salary when it gets out of line with my skills. It also helps my negotiation when I can use hard data (like the number of large accounts I have) to bring to the negotiation. I try to frame whatever I ask for in terms of how it helps the business reach their goals. If I'm doing good work, I know it's perfectly okay to ask for a raise since I'm helping the company as well.

To properly negotiate, you need to know how to ask.
#HowToAsk
When it's time to ask or make demands, I always start by engaging with my counterpart. I have unique information that I bring to the table that my counterpart doesn't have. It's great that I can be there so they can hear my perspective and take in information that's unique to my situation. Negotiations are important as my counterpart doesn't have the same information that I have. Once I start learning the reality of my counter negotiator and they learn mine, we can start packaging up incentives to get each other what we each want. Going point by point makes it too easy to miss the forest for the trees. I chunk up separate incentives into a larger package once I get a good sense of what the other party wants from the negotiation.

I am much more effective in negotiations when I use my communal orientation. That means being team-oriented and concerned for other people. I need to take stock of my competence (how my skills help my organization). David Eghbali has said that you don't make demands on people when you're asking them for help. Part of being community-oriented is being ok with asking for help even as a negotiation strategy. For example, if I receive a job offer, I could communicate to my supervisor that it's an attractive offer. I might also make a request to them that I need some help. By asking them an open-ended question like "can you help me?", I'm tapping into my communal nature as part of a larger network of people who are in the position to possibly help me.

Pick a good day and time to negotiate.
#WeatherMatters
I tend to pick days with nice weather when attempting any negotiation. It turns out that people are more likely to be helpful whenever the weather is nice. Conversely, when the weather is bad, I usually start off by discussing the bad weather as that helps diffuse some of the negativity. Everyone knows that it's an uphill battle when you have to fight the weather even before your negotiations start.

I also try to pick a time early in the day to start negotiations. By starting negotiations early, I help ensure that I'll have plenty of time to fully vet any concerns that my counterparty might have. Picking an early time of the day will also help me make a lasting impression on them. It turns out that people have an easier time remembering things that happen earlier in a sequence. By scheduling an early appointment, I'm effectively entering as the first person in the queue of their memory. If I can't get the first interview of the day, I try to get the last interview of the workday. I try to shoot for a time around 4:30 PM to rely on the recency effect. Being the last interview of the day also allows them to think about it during their time off that evening.

Always try to be prepared.
#BePrepared
Another negotiation prerequisite that David Eghbali teaches is to always be prepared. Although this might seem obvious, many people enter negotiations without having done the barest amount of research. If I haven't done any research on my counterparty, I won't know what their weaknesses are. I might also be able to tap into my business network to learn some pointers with anyone who's dealt with this particular person already. The more I know about the person I'm negotiating with, the easier it will be for me to discern their negotiating style.

How would I start negotiating?
#StartNow
Negotiating is a skill that needs to be learned in an ideal setting. Just as I wouldn't want to learn to play basketball by going against professionals, I wouldn't want to start learning negotiation skills in pressure settings. What I would do is to start by negotiating a modest scenario. I wouldn't start off with a negotiation where you might sour a relationship if it doesn't work out. Pick a situation where the relationship is not very important. This makes it less risky for you to try and experiment. Hopefully, these negotiation tips from David Eghbali have helped you towards becoming a better business negotiator.