3 Ways to Keeping Your Cool at the Negotiating Table!

Business owners are people, emotional beings, not machines devoid of feelings.

Emotions can make or break a deal, so it is imperative we learn to manage our emotions and use them to our advantage.

We get excited when we close a sale and become determined when we know there’s a chance to do better. It is essential to keep your cool in every situation.

It is especially important when something is upsetting and otherwise not going your way. Any negotiation can burst your bubble but it is vital to remain calm and focused.

It is not always easy but imperative when you do not want the situation to escalate and get much worse.

When we find ourselves on the other side of the negotiating table, the other party will take advantage of your emotions if they see the slightest hint of excitement on your face.

Ever hear the saying, “Maintain Your Poker Face”? This is a talent worth developing to be more successful in your business dealings.

The secret to winning any negotiation lies in how well you hide your emotions and focus on the objectives you want to accomplish.

How exactly can you achieve this self-control? Let me share with you a few strategies to employ in keeping your emotions in check:

1. Manage your excitement

Excitement is the first emotion to manage. Don’t let the counterparty know that you will do whatever it takes to make the deal.

Do you want to pay a lower premium for auto insurance coverage for a car you use for business travels? Show the dealer that you have no problems looking for a lower rate elsewhere.

So, wherever the negotiation is going, you should be able to put on that poker face and let the other party know you are unwilling to accept anything less.

2. Use silence to your advantage

Another great tactic when negotiating is to use silence to your advantage. People hate any uncomfortable amount of time passing with nothing spoken.

The longer you wait it out in silence, the more you can get the counterparty to break. Being silent is not easy for anyone to master, as most of us are used to quick exchanges when we converse with others.

But if you can master the silent treatment, you can show the other person that you mean business and that there’s little to no room for compromise.

3. Stay on track

The other party will use a wide range of tactics to distract you from accomplishing your objectives.

They will try to use all sorts of techniques to make it seem like they offer the best possible deal. In reality, they are giving you something less than the expectations you have set.

Whatever happens along the way, stick to your guns and push the negotiation to your favor.

These simple strategies can help you save money and protect your business’s interests in the long run, but they are just a part of the equation for business success.

Learn many other essential factors that will push your business forward with the help of Business Untangled. Contact us today.