Kindness and Professionalism: Qualities of a Great Negotiator
The examples portrayed in fiction about businessmen have nothing to do with reality. Those are usually elaborate lies. What is required is a calm personality when negotiating the buy or sale of business. Possessing a calm temperament, a sense of humor, and the view of business as not personal will ensure your negotiations get you the best result.
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. Knowing this can be of great help to any potential negotiator.
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. If used properly, emotions can help get a good deal faster. Nicer negotiators make for better counterparts. There are many advantages to this.
Whatever figure a buyer presents to a seller will be heard only if they are nice about it. During negotiations, presenting an offer is one of the hardest things to do. A nice presenter makes their offer more palatable. 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 do not want to destroy their client base by bringing them to a negotiating table occupied by emotional counterparts.
A nice seller will also help their cause. Before sitting down for the negotiation, the buyers usually do their homework on your business. They look at things like what software you use for bookkeeping. You may not be using one that is up to their standards. Your nice personality is what could convince them to overlook such issues. Honesty is a good policy to adapt when negotiating. Only when you are honest will the best bits of your business believable.
Part of being nice involves the buyer showing a lot of respect to the efforts the seller put into their business. They made it worthy of the buyer’s attention. Do not limit your respect to the negotiations; they can tell. A seller needs to feel reassured that the business will be in good hands.
A seller will have to display patience. It is not a simple buy. For every question the buyer will ask, the seller must be willing to respond well. This is critical to the process. You may know all the details of the business, but the buyer does not.
There has to be a high level of organization in your argument. You can also prepare instruction manuals, or offer to train them in the various operations should they choose to buy.
The seller will enjoy any compliment you give them. This will help the process of accepting the change.
It is always preferable to deal with nice negotiators. More business tips can be found on the Cheval Capital blog, where their managing director Hillary Stiff offers more of such great advice.