Why is negotiation such an important skill? Negotiation comes in handy in all areas of life, not just in the workplace. While it might be uncomfortable for some, it is a necessary skill that can be beneficial in a variety of situations. Therefore, it is important to change the common feeling of angst about negotiation and learn how to negotiate effectively in order to make the most out of any situation. Here are 4 common experiences where negotiation skills can be very beneficial.
Asking for a Raise
It’s one of the most dreaded tasks for many people, but asking for a raise is a necessary (and common) part of life. Summoning the courage to ask for more money is not easy, but having good negotiation skills can make it much easier. If you want a raise and you feel like you deserve it, timing and preparation are crucial to making that happen. A good negotiator would enter this situation with all of the right tools. They would research what others in the field are being paid, present facts only and discuss their contributions, have a clear goal in mind, and understand that other things are negotiable besides money including perks and benefits. When you possess good negotiation skills you are much more likely to get the raise you deserve.
Closing a Deal
If you are in the business world there will likely come a time when it is up to you to negotiate a deal. It might be something large like working a big account with a client or it could be as simple as trying to find affordable insurance plans for your employees. Whatever the situation, negotiation skills are critical in getting what you want. Someone with seasoned negotiation skills knows how to work the deal so that both parties walk away thinking they are winners. The ability to negotiate in the workplace can mean the difference between a successful career and one that is stagnant. The people with good negotiation skills are more likely to advance because they are seen as an asset to the company.
Buying a Home
Like we stated before, negotiation skills come in handy in all areas of life, not just in the workplace. At some point in their lives, most people will purchase a home and real estate agents are certainly expecting some negotiation. There are plenty of things to negotiate when buying a home such as price, closing costs, home warranty, or maintenance issues. Good negotiation skills can be very beneficial in this situation, ensuring that you get exactly what you want in your new home.
Buying a Car
Car dealerships are known for one thing…and that’s haggling. It is expected that when you walk onto a car lot that you are going to try and negotiate everything from price to trade-in value to extra bells and whistles on the car. Car salesmen are seasoned professionals at haggling so an inexperienced negotiator will have the disadvantage in this situation. Good negotiation skills, on the other hand, can serve you well the next time you step on the car lot.