Art Of NEGOTIATION | Negotiation Skills

Hello friends, today we'll talk about negotiation skills. Whenever we go somewhere to sell any product or buy any product, Some people can seal the deal at a lower price. Some people can sell at a higher price. So what are these skills and strategies, Today we'll talk about this? To explain this, I've taken many examples from my own experience. 

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My father is good at negotiation, my brother too, I am good at this.  We have a Trading Business. Import/export business I've been watching these negotiation skills since my childhood. So I will tell you today Everything that I have learned from my life experiences. The first point is we need to understand everything about the product I am trying to sell or the product I will buy. I am supposed to know everything about that product, its uses, it's a specification I am supposed to know in and out of that particular product. The next thing is, With a little market research.  I need to evaluate its actual price in the market.

Set up the relationship

 Let's say there is an X Product. So what's the value of that product in the market. Whether I am buying or selling Means, I will keep the price of that product to that point. Let's say I want to install a manufacturing factory. And I need to put raw material into it. So I know how the cost of chemicals will add a variation in the final product cost. So I'll calculate this means if x% is increased, the price will cost this much.  This means how far I can take the price of my product. That's how I will decide the price of the product. The same procedure is with buying a product. Same procedure for selling any product. That the value of this product is this much etc. etc. So we are supposed to know the actual price of that product. The next thing is we need to select alternatives. All the alternatives regarding selling, buying means whether I am selling/buying I should know all the alternatives. So when I try to negotiate, I'll have something to speak on.  That Why should I buy from them? So that he'll try to convince me. And my customer asks me why I should buy from you. And if I know about the alternatives, then I'll able to explain my product. Why my product is better than the alternative. The main point should be focused on long-term relationships. In business, Long term relationship is significant. I won't lie to my customer. This product is the best, and customers might know that the alternative is best. But don't try to manipulate the customer that your product is best. The next thing is Don't be in a hurry.

Focuse On Win 

 If you want to master negotiate, have patience. Keep in mind that you are buying/selling any product. If I showed urgency. That person might increase the price. Here if I know that this customer will definitely buy the product. With this, you need to work on body language and easily understand what the other person is trying to convey. What he is trying to convey through his body language. Using this evaluation, You can understand whether he is interested or not. If he is interested, no need to change the price. IF he is not interested, no need to change the price. And here I already know all the costs of the product. So according to that, I can change the price of the product. And the main point Never discloses the price by yourself. Whether I am buying/selling, I will ask them about the price. And if I am trying to sell, then also I won't disclose the price first. Ideally, we need to try this. We ask them about the cost of a product first, then we can give our counter price. 

The relationship

 So it's easy to negotiate. So it's better if you ask them first about their expectation of the price. One more thing, i.e., delay/silence, means you asked the seller about the price of a product, and then you didn't respond immediately Whether you want to buy it or not. This will give a signal to a seller that you are not interested. Chances are high for negotiation. And one of my father's schemes is that He offers advance payment. This increases the chances of Negotiation Always keeps in mind that The price of the product should not fluctuate with the quality of the product. Whether you are buying/selling. Like whenever we buy something from China, They give all the details. All the prices according to the different specifications of products. Basically, they have top-quality products as well as low quality. If you are buying, then you need to evaluate what specifications you need.  If you decrease the price, then quality will be compromised. Their negotiation process is different. They ask you about your budget. Then in your budget, give you the desired product. If you are buying any product, keep these techniques in mind. So these were the techniques of negotiation that I've learned so far. I tried to share everything with you. Do tell me in the comment section if you have any new techniques. I hope you like this article. And do like, share. If you haven't, do share with your friends.