[Steve]

I am wondering what you guys think are keys to negotiation?

I've read a couple books on it -- still learning.

But my favorite method to take advantage of is silence. A lot of people cannot stand time when no one is talking, so they continue to downplay themselves without you even having to say anything. This is especially effective on the phone.

What do you think?

[justin8]

its always good if you are the one applying the preesure, not having it applied on you. it can help especially if the person is desperate to make a deal. i have seen people talk themselves out of alot of money cause the good negoitaor just stayed quiet for that extra second.

[Karen]

Silence works well. I recall somewhere that silence works best because people spend more time second guessing themselves, and will talk themselves out of their previous answer.

Karen

[focusben]

Stay firm on your price. Know what the market offers or doesn't offer that you offer. Always know that your product is the best out there. When that happens, no one can touch you.

[Praetor]

Know who you are talking to.

In some cultures, long periods of silence aren't effective. Never get into a silence contest with a Buddhist monk. You'll lose.

I think the most important part of negotiation is having the upper hand before you even walk in. And if you don't, bluff until the other guy believes you do. Take on the "I'm going to win" posture, and everyone else will believe you will. That way, you can't go wrong.

My favourite author summed it up best. Sun Tzu wrote "Therefore good warriors cause others to come to them, and do not go to others." In other words, if the person you are negotiating with believes that you have the power (the "good warrior"), they will come around to your way of thinking.

[LucasK]

I think an important consideration when you are a young (inexperienced) entrepreneur is to treat the person like your peer. Be polite, respectful, but never look "up" to them.

I made the mistake in past years of acting too eager, and trreating the person with too much respect, that I ended up looking like I had less to offer.

Works great for selling (ie. you sell, they are considering a purchase).

[NExTRaDE]

There's only ONE key: UNDERSTANDING!!!

You have to understand what the other side wants (it may not only be money/price but many other factors) and then work with them to get a result that closely satisfies both the parties needs.

This way you have a win-win scenario and the person you are negotiating with will not feel used and will be happy to do business with you again.

On the other hand if you just want to screw them over, understand what is really important to them in the deal and leverage of it, use it to your advantage, as the other party will be prepared to make large sacrifices for this.