GSB-51: How to Negotiate and Win - 13 Must Have Skills

In business we all have to do some degree of negotiation, when buying a home, a business or just with your suppliers or vendors, but we don't get to win each time, but we should win if we know and practice this 13 negotiating skills, stay tuned and let's find out what and how they work

Welcome to Gas station business 101 podcast, I am Shabbir Hossain, and this is episode 51. This is the show where we discuss how to start, run and grow a gas station business successfully and give you an inside look at many real life case studies so you can follow and be successful in this business.

This episode is also important because it is based on my new book " How to Master 13 Negotiating Skills and Win in Business" that I published a few months ago, I know I didn't mention it here before, but this is one book I have been working on for a while now and was finally able to finish it. It was a soft launch, as I wanted to get some feedback from people and see what they think of this book. Now that I got some great feedback, I am happy to announce that it is out and available on every digital and print platforms out there.

But this episode is not about my book but about the 13 skills that will help you win in business and in life

Let's dive right in and get started..

The first and most important lesson in negotiation is never to show desperation, no matter what you are buying or selling, the smell of desperation can spread really fast and ruin any chance at winning a deal.

There is some basic legwork that you need to do before each deal or negotiation, even long before you go to the table and sit down. You need to collect some data by research and discovery ahead of time so you can take the time to analyze it and then determine what your exact game plan is going to be.

I know this may sound confusing, but after I discuss all 13 skills sets I will walk you through a real-life example of a negotiation that I had done recently and how these skills sets worked in that negotiation process. I will share the details and the outcome of the negotiation so you can visualize how these 13 skills work in real life business situations.

Skill 1 - People Skill

Know how your behavior affects others.
Understand various negotiating styles and which one you're dealing with.
Change your style of meet the needs of the listener.

Skill 2 - Listening Skill

Using steps to learn the interest of others.
Three levels of listening to gain information.
How to perceive yourself while listening to win at negotiating.

Skill 3 - Develop a Full Plan Before You Go To Negotiate
What a detailed plan should include.
What alternatives should you be prepared for?
Additional planning to be prepared.

Skill 4 - Knowing What You Want

Know what you want to gain.
Know what you are willing to concede.
Know timeline and expectations.

Skill 5 - Knowing What They Want
Know their interests.
Know their walk-away alternative.
Know their authority.
Know their arguments, questions and tactics.

Skill 6 - Knowing When to Walk Away
Know your acceptable range.
Know their acceptable range.
Know your deal breakers. 

Skill 7 - Know How Much to Compromise
What is a compromise?
What can't be compromised?
The perception of compromise.

Skill 8 - Knowing the Barrier
Identifying the seven barriers
Language differences
Culture differences
Physical barriers
Personal problems
Preconceived notions
Reputation
Exhaustion
Overcoming barriers

Skill 9 - Knowing How to Control Your Emotion
How do you want to feel and why
What to do beforehand to put yourself in an emotional state.
What can through off your emotional balance in a negotiation.
How to regain emotional balance.
How you want to feel when you're finished.

Skill 10 - Using the Time (Clock) to Your Advantage
How deadlines affect negotiations
How you can use deadlines to your advantage.

Skill 11 - Finding Mutual Gain
Five principles of mutual gain.
How to negotiate for mutual gain.

Skill 12 - Make Them Look Good, Let Them Brag
Why this is important.
How to do this.

Skill 13 - The Power of Paper
Why you should put it in writing.
When you should put it in writing.

 

If you have any question, feel free to send me an email at [e-mail], or you can post it on my Facebook group page by going to shabbirhossain.net

Lastly, If you are about to buy a gas station for the first time, make sure to read my book "Gas Station Business Smart Start-up" How to measure profitability, how to come up with a valuation, how to calculate ROI, how to write a business plan and how to get financing for your new venture.  You can find this book on most all retailers including Amazon, Apple iTunes, Kobo, Smashwords and Barnes and Noble.

If you want to see the " How to Master 13 Negotiating Skills and Win in Business" just click on the name and the link will take you to Amazon. You can also find this book on Kobo, Barnes and Noble, Apple iTunes store and many other book retailers.

Don't forget to sign up for my very important newsletter; you can simply sign up for it by going to http://gasstationbusiness101.com/subscribe

I am working on a very important episode which will be our next episode, and it will be all about how to build a gas station from the ground up, the idea for this very episode came from a listener name Shanewaz, and he even sent me a breakdown of the whole episode. Thanks to Shanewaz in advance and I think it will be a great episode.

Thank you once again for joining me in this episode; I will see you in the next one.

Cheers!