There is no doubt that good negotiating skills are essential in today’s world. Whether you are trying to close a deal with a client or hammer out an agreement with a business partner, being able to actively listen, communicate effectively, and persuasively advocate for your position are crucial skills for success. But what does it mean to be a good negotiator? Although many people might assume that successful negotiators must be extroverted and outgoing, this isn’t always the case. In fact, introverts may actually have some distinct advantages when it comes to negotiations.
For one thing, introverts tend to be excellent listeners and are skilled at paying attention to small details. This attentiveness allows them to better understand the other party’s perspective and craft effective responses tailored to their needs. On top of this, they often have strong analytical skills, which allow them to anticipate likely scenarios and come up with strategies to overcome potential obstacles before they even arise.
Many introverts can benefit from having vast stores of personal reflection and experiences that help them make well-informed decisions in high-pressure situations. For those who prefer quiet contemplation over boisterous crowds and enjoy spending time alone analyzing ideas over lively social gatherings and networking events, the ability to negotiate well may be within reach.
Of course, those who identify as extroverts also stand to gain many benefits from honing their negotiating skills. Extroverts generally revel in social activity and often derive energy from being surrounded by large groups of people. They often have stronger communication skills than their more inward counterparts simply because they interact with so many individuals on a regular basis.
Talking through challenging problems becomes second nature rather than a barrier standing between themselves and success. Extroverts can often reach win-win agreements beneficial for everyone involved. Good negotiating abilities aren’t reserved exclusively for either type.
Being shy can be an asset in an increasingly competitive world. Making noise is not the same as making strides in the workplace. Working from home has changed how negotiations happen. It is harder to overtake a room and create distractions. For a win-win outcome to happen, the finer details matter.
Team bargaining
Bidding adieu with regret and resentment after a negotiation can taint a person’s business and reputation. When you approach a negotiation as a team event rather than as a solo one, everyone can leave the table happy.
Negotiating strategies
Win-lose situations are not ideal. Some can even cross the line into unfairness. In general, there are two negotiating systems. One is positional bargaining and the other is principled negotiation. Positional bargaining sees each side taking a position and arguing for it, while principled negotiation focuses on the reasons behind presented positions to honor motivations. A focus on underlying interests can create new alternatives to make everyone happy.
Between decision analysis and game theory, there is wiggle room. Negotiation analysis works to develop theories to give negotiators a competitive advantage. Discovering zones of potential agreements is the goal of each negotiation.
Zones of agreement
Negotiation strategies and tactics are ever-evolving. Determining possible zones of agreement can be an art and a science. With the goal of determining a zone of agreement, analysts evaluate all strategies and tactics. Coming to the table collected rather than irrational is a strength. Putting together a rational baseline analysis is also a strength. Any skilled negotiator knows the process can get heated with so many fears and resentments that can color the outcome.
Variables
No one has the exact same personality. There are variables like motivations and childhoods. These elements can be incompatible, especially when there is unnecessary information, faulty mental shortcuts and ego.
Hierarchy
Social dynamics come into play during a negotiation, making the whole process complex yet dynamic. A false hierarchy can lead to polarization. Leaders can give out cues for hostility that can hijack the decision-making. This can result in social barriers, with shyer team members instinctively staying quiet.
Negotiation Tactics for Introverts
Preparation is everything when it comes to business negotiations. You have to know the ins and outs of who you are dealing with. Communication, however, gets everything started. Shyer negotiators may not be best at verbal communication, but there are other vital forms of communication.
Digital communication
Email is a great communication shortcut. No one can shout or interrupt. An email can reduce social differences due to unconscious gender or racial bias. It can also reduce anxiety for those who are shy. Emails allow you to collect all of your thoughts in one place and craft them into a coherent argument tailored to the other party’s needs.
With threaded conversations and message tracking, you can always stay up-to-date on the progress of the negotiation and respond quickly to any new developments.
The power of silence
There is a common misconception that in order to be successful in a negotiation, you need to be constantly talking and trying to get the upper hand. In reality, the best negotiations are often characterized by a sense of quiet restraint. Participating in a dialogue of silence allows you time to really consider your options and hear what the other party has to say. Staying silent can help you avoid saying something that may compromise your agenda or talking over others in an attempt to monopolize the conversation.
By allowing yourself space and time to reflect and listen, you can skillfully navigate any negotiation with confidence and grace. Ultimately, silence is one of the greatest assets in any negotiation, as the other side might try to fill the silence by giving away valuable information.
Perception can be reality
Asking questions is a powerful negotiation tactic. When you ask questions, the other side may have their guard down because they are used to brash negotiators. If they perceive they have the room to express themselves, a sense of fairness can arise and be the foundation for all your communications going forward.
Every negotiator has their strengths. Quieter ones can focus on details like body language and objectives. Through observation, the right questions can be asked to gain bargaining power. Understanding the other side is the ultimate power play.
10 Tactics for Successful Negotiations
- Preparation: Winging a negotiation never works. There needs to be extensive research and preparation. You should spend some time gathering perspectives and preparing talking points.
- Walk-away points: Everyone has a limit in life and business. Prepare for the meeting thinking of the worst-case scenario: no deal can be reached. Consider what the other person’s walking-away points could be to discover where you are flexible.
- Substance: You need to know where you are to get where you want to go. Focus on the process, not the result. Consider the stakeholders and decision-makers. You may show your cards too early or to those who are not making the final decisions if you focus too much on the result.
- Active listening: Everyone wants to be acknowledged and treated fairly. Acknowledge the other side first. Have your talking points ready, but also actively listen to others. Ask plenty of questions. Consider their motivations and their constraints to bridge the gap.
- Alternative Plans: A backup plan is always needed. You must know where you can go next. Preparation goes before, during and after the negotiation process. Although it is hard to expect the unexpected, you have to plan for left-field situations and outcomes. Always be prepared to harness the power of surprise.
- Narratives: Negotiations can’t just rely on data to make points. Numbers are finite; words are infinite. Don’t just lead with results; give context for each number so everyone can draw their conclusion. This is where a solid email can come in. For the most favorable outcome, present your final offer, provide the narrative to support it, and have that conversation.
- Flexibility: There is more than one way to get to a destination. You know where you need to go; it doesn’t always matter how you get there. Be flexible for the win. People need choices to feel a sense of fairness. Options can be flexible terms, start dates or prices. Pick what you can’t budge on and what can be fluid for your team.
- Reframe: Leverage is present in every negotiation. It can go back and forth between the two sides. To gain it, ask questions and listen to the answers. Frame the process as a discussion, not a battle.
- Backlash: A sense of fairness is needed to avoid backlash. If the result of the negotiation isn’t good for either party, backlash can happen. Winning isn’t as important as building relationships. Resentments can build. To avoid backlash, deliver good news piecemeal. Bad news should be delivered all at once. Accept an offer slowly to sidestep regret. Have a poker face to dampen any excitement and avoid backlash.
- Tell the truth: Negotiations are about building relationships, not getting one over on the other team. Build and maintain your reputation on the truth. People want to do honest business.
Everyone can win during negotiations. The other team should have a sense they are being treated fairly. Both introverts and extroverts can excel at negotiations, as the ultimate bargaining chip is knowledge. By upskilling with programs powered by ThriveDX, you can prepare for a new career with classes taught by some of the industry’s in-demand leaders. No need to negotiate your future when you can create it.
