15 Negotiation Skills You Should Develop

First on our list of negotiation skills is strategy. Before beginning any negotiation, an effective strategy demands an understanding of what tactics may work and may not work, matching them with the strengths and weaknesses of the party you’re going to be working with. This will enable you to customize your strategy for each negotiation.

Consider how you will develop your strategy for each step of the negotiation process: 
 

Persuasion is an important part of any effective negotiation, as it can help you to lay out your terms, defining why your proposed solution is the best one and encouraging others to see things your way. Following the principles of the ancient Greek philosopher Aristotle, a good negotiator can use these basic modes of persuasion:

Strong decision-making skills are essential in many careers. Reacting decisively to the other side’s proposal may make the difference between a successful and swiftly concluded deal and a prolonged, unproductive and stressful argument. As a skilled decision maker, you’ll know when to shake hands on a deal or walk away from one.

You may find yourself in an emotionally-charged negotiation where your ability to self-regulate and remain emotionally intelligent may make a big difference in the outcome. This level of restraint can play a pivotal role when you need to have difficult conversations without hurting others’ feelings, resolve conflicts, coach, motivate or improve relationships with others.

Rapport is the positive, meaningful relationship built between two people. It develops when individuals gain mutual trust through similar experiences and behaviors, or shared beliefs or interests. 

Four elements of rapport include empathy, authenticity, similarity and shared experiences. By building rapport, you may be able to ease tensions at the negotiating table, promote collaboration and increase the likelihood of reaching a compromise. 

Strong communication skills allow effective negotiators to clearly articulate their position, let their counterparts know where they stand and what they want to gain from the negotiation. In a complex negotiation, a good communicator will engage the other side civilly, yet assertively, as they work to reach an agreeable solution.

We can transfer information or decipher how our colleagues or opponents are feeling through non-verbal communication. The science of how to read this is a key negotiation skill because expressions and physical movements can speak volumes about how a person is feeling or how they receive information, which can enable you to adjust your presentation or approach accordingly. 

Examples of non-verbal communication can include:
 

Defined as the ability to think about something in a new or different way or to generate new ideas, creativity is a useful negotiation skill. Creative thinking in the workplace has been known to increase employee attraction and retention, improve teamwork and collaboration, and enhance productivity and problem-solving. 

Bringing a creative solution to the table that surprises the other party but that they find value in might help you both move toward an agreement. 

A collaborative problem solving approach can lead to a successful negotiation, since both parties feel like they are working toward a mutually beneficial result. This type of problem solving is rooted in “yes, and” thinking which builds on both parties’ ideas, and “win-win abundance” thinking which allows you to develop solutions that are beneficial to both parties. When negotiating with an abundance mentality, both parties can walk away feeling good.

Not to be confused with aggressiveness, assertiveness is a skill that can help you advocate for what you need clearly and confidently. Your strong communication skills will help you balance assertiveness with empathy, allowing you to express your perspectives, goals and intentions directly and succinctly while putting yourself in the other party’s shoes. 

In the business world, as in life, conflict is inevitable. But debate doesn’t have to lead to division. Conflict resolution skills are essential in negotiating, and allows good negotiators to combine objectivity with patience, flexibility and a positive attitude. If things start to escalate, active listening with empathy can go a long way in helping to settle heated conversations, improve relationships and working toward a solution.

Active listeners use a mixture of verbal and non-verbal cues to signal to the speaker that they are not only paying attention but absorbing what they’re saying. As a highly valued communication skill, active listening can help you to engage more in a discussion and help you retain details.  

In active listening, you carefully consider the speaker’s words as they speak, rather than thinking about what you want to say next. This higher level of engagement on your end will help you keep track of critical information and allow you to connect better with the other person.  

Verbal active listening techniques include paraphrasing, where the listener verbally summarizes the main points of what the speaker said to show that they understood, asking open-ended questions to dive deeper into a subject and non-verbal cues such as nodding, making eye contact and avoiding distracting movements.

Patience can be a powerful negotiating tool, aside from helping to reduce stress and promote better collaboration. Realizing that some discussions can take a long time to complete and may involve many rounds of renegotiation and counteroffers, good negotiators practice patience to carefully assess the situation and avoid rushing things toward a swift conclusion.

In business negotiations involving multiple parties with conflicting needs, strong research skills can be used to gather all the facts pertinent to the negotiation, as well as any background information that will help you gain important context. 

This negotiation skill can help you gain a more complete understanding of the landscape, the parties involved, alternative solutions or global perspectives, so that you’re better able to anticipate the arguments the other side is likely to make or propose a solution they might be intrigued by.

Last on our list of negotiation skills, but certainly not least, is expectation management. Just as an effective manager sets expectations and goals for team members, negotiators must set and manage their expectations during negotiations. Using this skill, a good negotiator maintains a balance between taking a firm stance for their interests and staying flexible in order to remain collaborative. As conversations ebb and flow, adjusting expectations may make the difference between a successful negotiation and one that breaks down.

Sharpen your negotiating and business management skills with a Master of Business Administration degree from DeVry and our Keller Graduate School of Management. 

Emphasizing many of the core skills and concepts employers look for in today’s complex business environment, our MBA degree program provides coursework in Business Economics, Leadership and Organizational behavior, and even Negotiation Skills! 

Our MBA program can be focused toward your personal and professional interests by offering 10 diverse specializations, including Accounting, Human Resources, Marketing, Global Supply Chain Management, Health Services and more. Explore them all to find out which one is right for you. 

Concerned about the time it may take to complete your degree? With at least 9 credit hours of qualifying Prior Learning Credit and on an accelerated schedule, you can earn your Keller master’s degree in as few as 12 months, or 2 years and 2 months on a normal one.¹

Flexible scheduling allows you to take classes when and how you choose. No GRE and GMAT required.