Kindness and Professionalism: Qualities of a Great Negotiator
No businessman acts the way movies show them. Those are usually elaborate lies. What is required is a calm personality when negotiating the buy or sale of business. When you portray a good temperament, a decent sense of humor, and not taking anything personally, you will be in the best mood to make the most out of that opportunity.
A review of previous performance reveals that those who choose to remain calm and rational as the negotiations proceed, as well as being sincere, honest and approachable manage to land the best deals. Leaving emotions out of it went a long way. Seating across the table from an emotional person did not inspire any confidence from the sellers. those who have been tasked with the negotiations will benefit from this information.
Those who are emotional will tend to ignore every good thing they are being offered. This also gives the other parties a hard time guessing what these individuals will do next. It becomes hard to take the offer and devise ways to make the most out of it. They are so focused on their emotion, they see no way of making more out of the deal. It is possible, though not common, to use emotions to your advantage. If you want to succeed in the negotiations, you will have to be nicer. This will give you better gains.
A nicer buyer will have their offer paid attention to, despite the figure. The the step of putting your offer on the table is not an easy one. It greatly helps when the presenter has a nice personality, so that the seller does not feel insulted or exploited. The seller will be willing to give you some consideration. They shall be willing to stretch to accommodate your needs. Negotiators lacking in this quality are not people brokers of such buys wish to see again. They have proven to be detrimental to their trade.
If you happen to be selling, the imperfections of your business will be easier to overlook. Before sitting down for the negotiation, the buyers usually do their homework on your business. A key area is the software you use for accounting purposes. If they don’t like what they see, this could work against you. A nice personality adds points in your favor. You will also have to be very honest. Honesty helps a buyer to accept what you point out as the good bits of the business.
Part of being nice involves the buyer showing a lot of respect to the efforts the seller put into their business. It was not an easy achievement. Do not limit your respect to the negotiations; they can tell. Unless the seller sees some effort into safeguarding their investment, they shall be difficult to handle.
A seller must be seen to be patient with the buyer. The buying process tends to take a long time. Buyers will be very inquisitive, and the seller needs to reciprocate adequately. This is critical to the process. the buyer is only trying to acquaint themselves with their new acquisition.
There has to be a high level of organization in your argument. You can tabulate all this, and be available should they need an expert’s view in future.
The seller will enjoy any compliment you give them. This is their creation, and they put so much into it, so you offering lower than what they expected is already hard on them.
It is always preferable to deal with nice negotiators. You will find a rich source of business material when you visit the Cheval Capital blog, especially the articles posted by their managing director, Hillary Stiff.