A discussion which objective is at reaching a resolution or agreement is negotiation.
Negotiation is also a way people settle differences. This way a compromise is reached therefore avoiding argument and dispute.
In business, it is coming to an agreement between parties. All parties involved must agree to the compromise.
HOW DO I GO ABOUT NEGOTIATIONS AS AN ONLINE BUSINESS OWNER
Your choice of approach to negotiation depends on what you are trying to achieve at the end of the negotiation, how important total success is to you, your willingness to compromise in a situation where it is the only choice, and your ongoing relationship with the other party. These decisions are the decisions you have to make, depending on the different situations you find yourself as a business owner.
In negotiation, there are a few styes one can utilize to achieve succesful deal closures. The ‘accomodating’ style, the ‘competing’ style, the ‘avoiding’ style, the ‘collaborative’, and the ‘compromise’ style .
Be prepared before you enter a negotiation. In most situations negotiation meets you in a position when you are not ready. You must learn all the tricky involved.
Choose your negotiation style based on your goals and the kind of relationship that you want with the other party in the future.
You must groom your ability of seizing the willingness power of your customer walking away and taking another deal.
Head most part of the negotiation process.
If your clients chats you up, you make the calls. Calling breeds understanding and increases convincing power.
Know your customers background to dictate your price.
Profer multiple offers your customer will find it hard to resist.
Talk about only things that moves the negotiation forward.
Know your goals, know what you can giveaway, know your alternatives (BATNA – Best Alternative To Negotiated Agreement)
What relationship do you intend to grow or destroy.
How much are your competition charging?
knowing the difference between your products cost price and the asking price.
Why is it being sold?
What can you afford for it?
Remind your customers of incentives attached.
Written By @ChimeFrancis1
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