A slick suit and blinding smile won’t get you through a negotiation.
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A slick suit and blinding smile won’t get you through a negotiation. Do your homework. Prior to negotiations read and re-read your file, ensuring that you have the facts at your fingertips.
Make sure that you have a sound grasp of your client, their business and the market they operate in. This will add value to the advice you give.
Never go in with your ‘best case’ offer straight away. Build in sufficient room to your offer so the other side will feel like they’ve got a good deal.
By looking ahead and analysing the various possible outcomes of your case, you will be able to enter negotiations with an open mind.
It is human instinct to fill awkward silences: in the context of a negotiation this may work in your favour. Silence is one of the strongest statements you can make. Count to ten.
Don’t be afraid of telling the other side that you need time to consider a proposal with your client. Rushing crucial decisions can prove fatal.
It’s all too easy to take your foot off the gas when headline terms have been agreed, but the really important part is getting the agreement formalised and implemented.