Kindness and Professionalism: Qualities of a Great Negotiator
The examples portrayed in fiction about businessmen have nothing to do with reality. They are very misleading. What is required is a calm personality when negotiating the buy or sale of business. Possessing a calm temperament, a sense of humor, and the view of business as not personal will ensure your negotiations get you the best result.
From Experience, it can be seen that honesty, sincerity, rationality, and calmness are the best tools for negotiation. Staying reasonably emotional was acceptable. Seating across the table from an emotional person did not inspire any confidence from the sellers. This knowledge should position anyone on the right path to handling such negotiations.
Emotional negotiators rarely view any offer as a good one. The negotiations will also suffer, as no reasonable steps will be taken. Emotions also make it hard for people to see a situation clearly and think of possible options. They are so focused on their emotion, they see no way of making more out of the deal. It is possible, though not common, to use emotions to your advantage. If you want to succeed in the negotiations, you will have to be nicer. There are many advantages to this.
Whatever figure a buyer presents to a seller will be heard only if they are nice about it. The the step of putting your offer on the table is not an easy one. A nice personality will ease the blow to the seller, especially if the offer is low. A nice personality makes it easier for the seller to stomach your offer. It will make understanding your position much easier. In case you are buying through an agent, they tend to call on parties that were previously nice, for future business. They do not want to destroy their client base by bringing them to a negotiating table occupied by emotional counterparts.
Since no business is perfect, a nice personality makes up for a lot on the seller’s part. Before sitting down for the negotiation, the buyers usually do their homework on your business. They look at things like what software you use for bookkeeping. There is a chance what you have in place is substandard according to them. Being nice will improve your chances. Honesty is a good policy to adapt when negotiating. Honesty helps a buyer to accept what you point out as the good bits of the business.
To achieve the desired likeability, a buyer needs to first respect the place where the seller has taken the business. They invested a lot into it. The respect should exceed the negotiating table. A seller needs to feel reassured that the business will be in good hands.
Sellers need to be patient. The process usually takes a long time. For every question the buyer will ask, the seller must be willing to respond well. This is crucial to the sale. The buyer does not know a lot about the intricacies of the business.
There has to be a high level of organization in your argument. You can tabulate all this, and be available should they need an expert’s view in future.
The seller will enjoy any compliment you give them. They will come to appreciate the fact that you mean well.
To make the most of such opportunities, it helps to be a nice negotiator. Those looking for such business tips can find them on the Cheval Capital website, where their managing director, Hillary Stiff, posts educative and informative articles.
Reference: find out this here