To successfully negotiate a business deal, you have to be prepared, observant, professional, and much more. In this article, I provide a number of tips for conducting business negotiations and closing a deal.
1. Listen and understand the other party’s issues and point of view
Some of the worst negotiators I have seen are the ones who do all the talking, seeming to want to control the conversation and expound endlessly on the merits of their position. The best negotiators tend to be the ones who truly listen to the other side, understand their key issues and hot buttons, and then formulate an appropriate response. Try to gain an understanding about what is important to the other side, what limitations they may have, and where they may have flexibility. Refrain from talking too much.
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