How to Choose the Best Negotiation Strategy to Close the Deal

When choosing which negotiation strategy would be the best in a particular business negotiation setting, there are two things that need to be taken in to consideration. The first is what you and your prospective client would be discussing during the meeting.

If, for example, you are planning to offer a certain line of services and products to a potential client to their current business needs, the integrative bargaining is the best strategy to use. This particular business strategy takes into consideration what are the current needs of the client.

From here, both parties involved in the business negotiation sit down and discuss the most profitable option that is available for both parties based on the demand required by the client and the expenses that your business will incur in order to provide these.

On the other hand, there are some business negotiations that involved discussing a fixed position or idea, such as the price of a specific product or service that you are offering to your client, the best negotiation strategy to use here is positional bargaining.

Unlike the integrative bargaining where the wants and needs of both parties would need to be taken into consideration, in positional bargaining, these wants and needs are set aside and bear no weight in the negotiation.

As such, this business negotiation strategy tends to be a lot more aggressive than the integrative bargaining strategy. It is also the most common type of negotiation that commonly occurs within most industries, specifically the manufacturing and production industries.

Another thing to be taken into consideration is who you will be negotiating with. With globalization now the current trend in today's corporate world, it is quite common for business entrepreneurs to become involved in cross-cultural business negotiations.

That being the case, it is important to remember that there are certain business practices that may be considered common in your culture that would sound to be outrageous to another.

If you find yourself having to handle a business negotiation with a client that practices a different culture, the best strategy to do here is to utilize the most comfortable manner of business negotiation observed by your potential client. This would not only let them become more comfortable, but also more open to doing business with you.

By : Grant_Shields

Step Out of the Comfort Zone to Grow Your Business

If you are truly committed to growing a highly profitable and sustainable business with all the success you dream about, then it is time to step out of your comfort zone and play a bigger game.

Unfortunately, for every big dream, vision and goal, what often shows up is resistance to taking that quantum leap forward. This is usually disguised as procrastination and excuses - 'I will do this later', 'When I have the money', 'When I feel more secure', 'When I have the time'.

In reality your excuses are masking the fear of new and unfamiliar circumstances. They are a natural human reaction that aims to keep you safe and secure. But by not being bold enough you could find yourself stuck or plateaued out - doing the same work, attracting the same clients, earning the same income - and feeling increasingly discontent.

When this happens you don't grow and your clients don't grow either. And the worst case scenario is that you run out of momentum maintaining the status quo. You lose energy, enthusiasm, passion, and possibly business (ironically the greatest fear of taking a risk).

Here are 6 tips to help you get used to 'stepping out of your comfort zone'. So when the next really big opportunity comes along you will confidently take action.

1. Practise on a regular basis. Do something daily, weekly, monthly that gives you a sense of excitement and 'I couldn't possibly do that' response. For example arrange a speaking engagement if you don't like giving talks, call potential client if you never make cold calls, increase your rates and let your clients know.

2. Change your routine. We all fall into habits which serve us to some extent. But if you fail to question whether they still work for you it's probably because you are comfortable with the way things are. Pick one habit that you could either drop or change that would make a difference. If you consistently work long hours take Fridays off, delegate work that you would normally do to someone else, take time out during the day to relax, meditate or visualise your success.

3. Try something new. When you rise to the challenge of doing something new you will find your confidence grows. You may also get a different perspective on you and your business. If there is an activity that you secretly would like to try then now is the time to book yourself in - sky or deep sea diving, horse riding, tango?

4. Change your beliefs. One day at a time challenge your beliefs and adopt different ones. If you believe that work is a struggle and requires lots of hard work, adopt the belief that business is effortless, easy and fun. If you believe that you are not good enough then act as if you are the expert (which you are). You will be amazed how quickly your new beliefs will become your reality when you transform your perceptions.

5. Invest in you and your business. Perhaps it is hiring someone to handle your PR and event management, investing in a new training programme, attending an overseas trade fair. There really are rewards when you take some financial risks and invest in you and your business.

6. Hire a mentor or coach. The great thing about having a coach is that they will offer unconditional support but also will hold you accountable every day for achieving and living your business dreams. There will be no excuses.

As you get used to stepping outside of your comfort zone you will learn how to handle new and unfamiliar situations. Then you will be well on your way to growing your business with confidence and commitment.

By : Susan_Tomlinson