Do you want to get the most out of your negotiations? The lifespan of a business can be measured by how its internal and external relationships are structured. The first impression is always incredibly important, so it also matters what location you take your business partner to! Not only the establishment of the relationship, but also its maintenance is of prime importance, if you nurture these relationships properly, you can save money in the long run! How do you do it?
Number one negotiation tip: Establishing a personal relationship is very important!
While an email exchange may seem like enough, a phone call or face-to-face interaction is incredibly important to building rapport before a trial. When your potential business partner sees your face or hears your voice, it is immediately more personal than an email, and it is much easier to reach an agreement. Before jumping into negotiations, take at least five minutes to get to know each other. Studies have shown that people feel more cooperative, more confidential, and more willing to share information when a negotiation is preceded by small talk.
Where should you take your business partner to? For the perfect venue negotiation!
If you are looking for a business location for a meeting, you probably have a not-so-secret desire to overwhelm your partner. However, it is very important to find the perfect balance and not show much more than what your company represents. It is clear that you will not be invited to the company canteen, but you do not necessarily have to choose the most popular restaurant, not least because the private atmosphere is also very important. It is also possible to reserve a private seat in the Memoriae restaurant. The furnishings are very elegant and have an exclusive effect, just like the menu packed with the finest seasonal dishes and the premium drinks offered to go with it. Our excellent chefs work with dishes from international cuisine and modern seasonings, who will conjure up a special gastronomic masterpiece not only on your plate, but also on your partner's plate.
In Kaposvár's most exclusive restaurant, the Memoriae Restaurant, you are guaranteed to impress your business partners and convince them of your refined style and good taste!
Negotiation tip number two: Encourage two-way conversation.
In order for both sides to feel comfortable in the trial, both sides need to be heard. You need to prepare not only for speaking topics, but also for listening. Remember, the other person has come with things they want to share. When both parties feel like they've been heard, they are better equipped to negotiate what they need to and have a better chance of reaching an agreement. Open communication is also the building block of an effective partnership and a strong relationship.
Negotiation tip number three: Come prepared!
Whatever the negotiation, an important rule is that you must define the ultimate goal and an idea of what you are willing to move towards. For example, when one person negotiates for a higher salary, they may put a number on the table that is higher than their ultimate goal, so the other person may feel that they have gotten their way. In fact, the first person gets the salary they want because they posted a number higher than the target salary. Go into your business negotiations with a plan of what is non-negotiable and what can be changed.
Negotiation tip number four: Spy on the negotiation from an outside perspective!
Sometimes, especially for small business owners, it's easy to take things personally. We must remember that we are only dealing with business during negotiations. There is no room for emotion in business; in fact, emotions can often cause confusion in business affairs. If this is difficult for you, try to look at the matter from an outsider's point of view so that you can achieve greater success! By doing so, you remove yourself and your emotions from the negotiation. Your business partner will see you as more professional, which is extremely important for nurturing the relationship.
Negotiation tip number five: Don't just focus on today!
It's easy to focus exclusively on today's business, but sometimes we have to play the long game. During the negotiation, think about what a long-term relationship with this business partner could mean. Will you be making more offers in the future? Is there an opportunity to earn much more? Sometimes we need to take less value today and trade it for future deals. This is only possible by considering the importance of a long-term relationship!