For over 25 years, Aaron Eichler has worked as an independent business management consultant for several different companies in Minnetonka, Minnesota. His expertise includes advising business managers on the best tactics for negotiating with clients, business leaders and other corporate stakeholders. His educational background includes a Bachelor of Arts Degree in Economics from Macalester College and a Master of Business Administration Degree from the University of Minnesota’s Carlson School of Management.
Good negotiations start with your etiquette. Show the other party you are a true professional. Do not lower yourself to spewing personal insults if there is a disagreement. Maintain a respectful and dignified tone throughout the negotiations, regardless of the outcome. Even if one negotiation doesn’t go well, it doesn’t mean future negotiations won’t go well. Always try to maintain a good relationship with the other party to establish a solid long-term relationship.
Never accept the first offer. There is always room to negotiate when the other party makes an offer to buy or sell something. A buy offer usually starts with the lowest price possible, while a sell offer starts with the highest price. What you’ll want to do is negotiate something that meets the other party halfway in the middle. That way, both parties can get some of what they want.
Take a little extra time to investigate the other party or the value of their offer. However, don’t take too much time to decide or else the other party might walk away from the deal. Make sure both parties agree on a deadline for a decision to be made.
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