Key points of a Successful Negotiation
Negotiation is an important part of any business. It may lead a company to grow, so it should not be underestimated.
Here are the 4 steps to a successful negotiation in Dubai
Successful negotiation is not always simple. But if you learn how to negotiate like a pro, take a look at the following process with key factors that can increase your leverage.
- Preparation
Focus on the advantages of the product you are offering,
Do a competitor’s analysis and find out what your competitors and offering and stress your advantages over theirs.
Set your price at which you will walk away
Develop your presentation- practice till you cover all pointers
- Research your buyer
Learn about your buyer by looking at his social media profiles on networks.
Ask questions to learn about his needs.
Look at your customer and his surroundings and use everything that can help in your negotiation.
- During the negotiation
Set your best price which is 10-15% higher so that you can give up a few percentage points. This will make the buyer feel like they have won some concessions.
- Here are the 7 steps to a successful negotiation:
- Be confident
- Be mindful of why the customer is looking at your product
- Be aware of what the customer values
- Be aware of the timeline for making a decision
- Make sure you’re dealing with the decision-maker
- Give the customer value that does not cost you much
- Know your walk-away point