5 Tips Successful People Use to Get Better Results from Negotiations

In business every day, deals come together and fall apart. The difference in outcomes is usually largely due to the decision-makers sitting on either side of the table, and how they approach the negotiation. Sometimes individuals find ways to get the most unlikely deals done and other times a single, small concession can stop a mutually beneficial partnership from coming to fruition.

As anyone who’s ever purchased a new car or tried to get a young child to eat their vegetables can tell you, negotiating is a delicate balancing act. Of course you want to get something that’s beneficial for you in the deal, but you also have to be willing to give something up in the process. You have to make the other side feel as good about what they’re taking away as you do about what you’re getting. So how can you effectively go about accomplishing that each and every time?

The resource below includes proven insights to increase your likelihood of getting positive results out of negotiations. It all starts with being clear about your goals—knowing what the best outcome would be for you and the minimum you are willing to accept. Another smart bargaining strategy is to create an “anchoring effect” by asking for an extreme amount at the beginning of the negotiation, shifting the perception of what you are actually giving up in the process.

Here are five more things to keep in mind when going into a negotiation:

1. Know what’s most important – Make sure you establish ahead of time the things you are and are not willing to give up.

2. Don’t negotiate with yourself – If you give something up, always be sure you get something back in return.

3. Move inches instead of feet – If you are using an anchoring effect, make concessions in increments rather than in large chunks.

4. Control the pace – Move things slowly so the other side knows that every concession is a tough decision that means something to you.

5. Come with a closer – Sometimes it just takes one more thing to push a deal over the top. Have a final concession prepared in case you need it.

Going into any negotiation with a strategy will increase your likelihood of success. Download the resource below for more information to help you see better results anytime you’re engaged in a give-and-take discussion.


The material contained herein is for informational purposes only and is not intended to provide specific advice or recommendations for any individual nor does it take into account the particular investment objectives, financial situation or needs of individual investors. Any tax advice contained herein is of a general nature and is not intended for public dissemination. Further, you should seek specific tax advice from your tax professional before pursuing any idea contemplated herein. This advice is being provided solely as an incidental service to our business as insurance professionals and investment advisors.

Neither Wealth Impact Partners, Valmark Securities nor its affiliates and/or its employees/agents/registered representatives offer legal or tax advice. Please seek independent advice, specific to your situation, from a qualified legal/tax professional.

Securities offered through Valmark Securities, Inc. Member FINRA/SIPC. Investment advisory services offered through Valmark Advisers, Inc., a SEC Registered Investment Advisor. 130 Springside Drive, Suite 300 Akron, Ohio 44333. (800) 765-5201. Wealth Impact Partners is a separate entity from Valmark Securities, Inc. and Valmark Advisers, Inc. BSW Inner Circle and AES Nation LLC are separate entities from Valmark Securities and Valmark Advisors.

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