5 Negotiation Mistakes That Could Cripple Your Revenue

The most essential skills in the business world are negotiating skills. If one is unable to negotiate logically, persuasively and fairly, it could jeopardize his/her business or miss out great opportunities as a result. In an attempt to argue persuasively, participants more often rely on illogical arguments that are rational to prove their points. It is wise therefore to avoid such negotiation mistakes, since they only weaken your argument.

Negotiating is sometimes uncomfortable. Trying to get an appealing price, terms and conditions often feels challenging, and most people avoid it. However, one has to negotiate for his/her business to stand. There is always fear in the beginning and there is usually no way to eliminate it. There is actually no switch to press and make one an immediate expert. One has to take a lot of time and training and work through it.

A recent survey indicated that 32% of people are fearful when it comes to negotiating and even 20% of the professional negotiators do not take pleasure in negotiating.

For a successful negotiation, planning is vital. Preparations allow one to chart a course for one’s position, plan for formidable rebuttals, consider possible compromises and alternatives and determine the outcome. Once one becomes comfortable with asking, take the skills to a larger arena. In the beginning, inexperienced negotiators will misstep. Below are five common mistakes that people make during negotiations and how to avoid them,

1. Lack of confidence

A good number of people think that it takes a brazen or bold personality to negotiate a particular deal while others think that experience is all what is needed. Instead, it takes preparations and tenacity. Even before starting the process, one should ensure that he/she have identified anticipated possible objections; mutually desirable terms and determine what motivators will augur well with the opponent. Confidence in addition means having a good heart that often endears and gives the other party a less defensive standpoint.

2. Assumption that something is not negotiable

Everything is negotiable when one thinks like a negotiator. When one decides that the terms and conditions can be altered in his/her favor, an opportunity presents. Rules are change, if one simply proposes a viable, mutually beneficial and ethical alternative solution. Powerful negotiators are outright rule breakers.

3. Failure to build relationships first

One of the greatest mistakes people make when negotiating is failing to know the other party. One need to slow down and make good connections with the people to garner helpful information that can be used to know what motivates them, what they value in life and what annoys them too. More often, people learn greatly though a genuine conversation with another person


It may sound very simple, but successful negotiations entails asking keenly for what you want. The fear of seeming greedy or rejection sometimes gets in the way, but it is always never personal. It is a purely a reflection that you did not table a valid argument substantiating clearly why you should get what you actually want. Actually, it is your offer that was rejected and not you.

When you get a “no” as the answer, it only means that the other party needs a little more information. People say no an average of three times before they say yes. It is therefore prudent to master the art of rejection, which is to keep asking.

5. Talking too much

Those experienced with sales and negotiation training will tell you that too much talking is a sure way to kill a deal. It is very usual for example; a salesperson can talk too much about a certain product or a service that they take you out of the purchase.

One should never underestimate the power of silence. When discussing a business deal, if you stop talking and get very comfortable with the silence awkwardness then the ability to sell the product and win the argument in the negotiations increases meaningfully. It is wiser to talk less and listen more.

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Five Ways to Grow Your Business

With your competition never giving you a break, it’s important to build and maintain your market share. Here are five ways to grow your business in the modern business landscape.

Organize the Budget

Making sure that your budget is in order for the next months ahead of time is one of the best ways to ensure that you do not run into any emergencies. Talk with financial experts to make sure that you aren’t missing anything with new hires or taxes. Making these simple money mistakes can be incredibly costly, keeping your business from growing.

Learn Your Competition

There are more ways than ever to monitor your competition. Using social media, review sites and keyword monitoring, you can actually see the holes in your competition’s strategy and respond to them in real time.

Learn to Invest

Investing does not only have to do money, but also with the assets in your office. For instance, if you get a coffee maker, then you save your employees the 15 minutes of having to get coffee in the morning. Some of the top companies in the world supply their employees with lunch, a gym and other amenities so that they never have to leave the premises. You may not have these kinds of funds, but you do have the ability to invest with the funds that you do have. The more that your employees focus on work rather than the little annoyances of life, the more productive that your entire company will be. Invest in things that will allow your employees to focus.

Learn Search Engine Optimization

The major search engines account for over 85% of new business these days. If you are a small business that is looking to grow, you need to make Google, Yahoo and Bing very happy with you. The great thing is that good SEO has more to do with a great marketing program then learning some kind of technical system.

Hire Organized and Experienced Employees

A person who has obtained a Master of Science in Projects online is an example of someone who prioritized learning organizational skills. Look for these types of employees, who are able to direct their efforts and talents. Project managers can really make or break a company, so it’s important to hire right. While education isn’t everything, it is important., and therefore should not be overlooked.

The five tips above will certainly give you a leg up on your competition when it comes to growing your business. However, the best tip anyone can give you for growth is to keep up with the changes in your industry and serve the customer the best that you can.

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