What exactly is business negotiation? How do you prepare for negotiations and business-to-business prospecting? Do you want to successfully negotiate and create relationships with potential clients? Then read our comprehensive guide. 🤝

Simple Definition of Business Negotiation

A business negotiation is a process of communication aimed at establishing a commercial agreement. This dialogue reveals the negotiators' expectations, interests, viewpoints, and perspectives. Business talks are classified into two types:

• Negotiating in short sales cycles: The commercial offerings are basic and allow sales to be concluded from the first contact.
• Negotiating in long sales cycles: This offer is aimed at major customers (executives and businesses). Several meetings with various interlocutors are required to reach a win-win accord. Negotiation stages can be lengthy and can include calls for tender.

What are the 3 Possible Strategies in a Business Negotiation?

The art of commercial negotiation is, of course, based on argument preparation and careful listening, but it is also based on unspoken words and feelings felt during the exchange: ask questions and do not move hastily. 🙏

Check out these three sales negotiation methods that you may implement to your own sales process if you want to become a great negotiator:

Strategy 1: Based on Power Relationships

This negotiation method is built on the power relationship as well as the relationship with the prospect. It is critical to understand the balance of power among the many parties involved in order to position oneself advantageously in the negotiations and identify the plan to follow. Who has the most sway over the others? Who will benefit the most from these negotiations?

Depending on the company's negotiation strategy, it is normal that it considers the other party's plan in order to adjust to it. Taking reality and opportunity into account inspires the negotiation methods used. In all circumstances, it is preferable for businesses to seek collaborative techniques in order to develop trusting, high-quality, and long-term relationships! 💪

Strategy 2: Based on Cooperation, Sales and Negotiation Skills

These two cooperation strategies aim to foster complementarity and cultivate positive relationships among stakeholders, thereby strengthening long-term connections.

• Open Rapport: The strategy of open rapport involves cooperative approaches that promote negotiation dynamics within power relationships. When confronted with the demands of subordinates, open rapport entails management making concessions to enhance the value of the negotiation. By adopting this approach, even if the negotiations do not yield favorable outcomes, the seller avoids feeling disappointed.