Imagine you are on the verge of finalising a business deal with another organisation. All details have been finalized except one aspect of the deal, on which neither your company nor the other party are ready to retreat. Here is where the art of negotiation comes into play.

Disagreements are a part and parcel of working with teams within as well as outside the organisation. However through careful negotiation tactics, these disagreements can be converted into an agreement and result in increased productivity and achievement of mutually desirable objectives – but what does it take to negotiate effectively?

Here are few tips to add on to your day to day business communication if such unwanted situation arises:

1. Knowing the opponent:

Knowing the opposite party can be an important ace up your sleeve. In order to make a deal happen, you have to know what the other side wants. And in order to know this, you have to really get to know the other party — their background, needs and motivation. For this purpose, you need to do your research and background study thoroughly. Sometimes reiterating the same logic in the language and words more discernable to the other party might help put the point across more clearly. With added knowledge about them, you will be able to put across favourable points that may appeal to them more.

2. Establish trust and reliability with mutually favoured points first:

While negotiating towards a consensus, don’t get stuck on a roadblock. First, try to establish reliability and mutual interest by agreeing upon the points both parties mutually agree on. These points will help everyone reach a point of understanding that both parties have a common ground, then you can build up on that notion towards the more difficult points for better negotiability.

3. Don’t be afraid to show empathy:

Though rigidity and standing firm shows strength in theory, the real strength of a negotiator lies in showing empathy, understanding and personalisation of situation. While understanding where the other party is coming from, you can understand the reason behind the disagreement better and propose a solution that would be more agreeable to both the parties. Don’t disregard their concerns off the boot; try to make them understand that you also understand what their reservations are and then communicate your own point of view.

4. Personalize your communication:

Instead of using confrontational tones over call or emails, prefer to meet in person while maintaining a calm and composed body language.

5. Win some, lose some:

Not all negotiations end up in perfect agreement. If you’re stuck at an impasse, ask yourself, is there anything besides the money involved that is important to me? Is there anything besides money that’s important to the other party? What if a smaller retreat now may give way to a larger gain in the long-term? If it’s easy to concede, make a compromise. Real chess players know when to let a pawn fall for better chances of a checkmate.

You can also learn to negotiate better with the special Executive Education course by Magna Carta College on Negotiation, taught by industry experts with years of experience in business negotiation and successful deal making. Remember, there is a negotiator inside all of us – the real challenge is to learn the art and practice it.