Negotiating isn't just about getting the deal you want. It's about finding common ground and gaining the trust of the person you're negotiating with. So before you head out to make your next deal, keep the following skills in mind.
If you can find a way to relate to the person and get them to relate to you, you are in a better position to find a solution that is mutually beneficial. If it's just a battle of egos, then the biggest ego will have the advantage. Find some common ground and see how the opportunity can help both parties involved. - John Arroyo, Arroyo Labs, Inc.
Identify the breaking point for each party with a number or a budget. Knowing market rates, annual sales and competitive bids helps you stay ahead of the game as you can add value where needed and determine whether it's a good fit. Anyone going into a negotiation should know the most they're willing to pay for something or the least they're willing to sell it for. - Angela Delmedico, Elev8 Consulting Group
A. Situational Awareness
The ability to read and react to whoever you're negotiating with is key. I've said this on multiple occasions: Steve Jobs was one man who was brilliant at this. He was extremely skilled at reading a room and knowing exactly the audience he was speaking to, and he could change his message on-the-fly based on the atmosphere. - Steven Buchwald, The E2 Visa Lawyer
A negotiator cannot win without the trust of the person they are negotiating with. They need to be able to understand what the other person wants and find a deal that benefits both without hurting the other. - Ajmal Saleem, Suprex Learning
Anchoring is when you set your initial price point above your actual pricing goal. Anchor 15 percent higher than what you will actually take for your final price. If you want to sell your widget for $100, set your price at $115 to start. That way, you have room to come down and they can come up. - Ben Walker, Transcription Outsourcing, LLC
One of the most important skills in negotiating is being able to be silent. When negotiating, there's always an awkward moment when it's coming down to the final numbers. When you find yourself in this situation, give your offer then sit in silence. It may be awkward, but it's important to let the other person respond. You can make thousands of dollars in those seconds just by being quiet. - Bryan Driscoll, Think Big Marketing, LLC
These answers are provided by members of FounderSociety, an invitation-only organization comprised of ambitious startup founders and business owners.