The fear of negotiations

The Fear of Negotiation It sneaks up on us slowly from behind. Making the sweat beads run down our backs, our hands all tingly, and our minds completely unfocused: the fear of negotiations! And it always comes when we least need it. Like before an important negotiation. A situation that you are quite familiar with? Then this text is just right for you! Because with the right tips and tricks, you can very well manage your fear. Recognize Your Own Position Step one: Define your starting situation. How important are you to the customer? How important is the customer to you? And is there an alternative if you cannot win the customer or lose them? Worst-Case Scenario Step two: Imagine what you will do if the worst-case scenario occurs. This way, you are ideally prepared for the supposed catastrophe. Set Minimal and Maximum Goals Step three: Before each negotiation, set yourself a realistic and measurable minimal and maximum goal. Because only when you know where you are heading, can you act confidently in the negotiation. Never lose sight of your minimal goal, even if the pressure from the customer is high. Because if you lower your demands, you will leave the negotiation as a loser, having sold yourself short. And in some cases, sticking to the minimal goal can ultimately lead to a victory, as I will illustrate with an example. Maintain Your Own Quality Standards In the Frieder Gamm Group, we had a customer who accounted for 30% of our total revenue. After two years of working well together, new negotiations were on the horizon. In the process, the customer presented us with a competitor who offered the same services 30% cheaper. A difficult situation. Should we go below our minimal goal to retain the important customer? Or should we better part ways to maintain our independence? After careful consideration, we decided not to submit an offer. Firstly, because our company could still thrive very well from the remaining 70% of revenue. Secondly, because we knew that we could not maintain our quality standards with a low offer. A decision that ultimately paid off. Because just a few months later, the customer returned apologetically. What had happened? Our former competitor had not delivered good work. But not only that. No, in the end, we also received a higher fee than we had set as our goal. Endure Dry Spells So, it is worth standing up for your beliefs. Even if you have to endure some dry spells at times. Because those who take a stand and uphold their quality standards not only maintain their independence but also convey a very important trait outwardly: credibility. So, if you never want to go into a negotiation with a sweaty shirt again, you just need to do the following beforehand: clarify your starting situation, set a minimal and a maximum goal, and imagine the worst-case scenario. Because then you are so well prepared that there is no reason to get nervous. For more information on negotiations and Frieder Gamm, visit: https://www.speakers-excellence.de/redner/frieder-gamm.html