Negotiations happen on a daily basis. We start bargaining our way out of or into situations from an early age - getting an extension on homework assignments, or promising to do chores so your parents will let you go to the movies. Negotiations are fundamentally simple; each person has something that the other wants. But business negotiating can take these variables and make them extremely complicated.  

Know What You Want

This might seem obvious, but having a clear objective in mind is not always as easy as it sounds. If you plan to bargain with another party, you should also know what you are willing to give up. Have limits on what you will and won't compromise and be firm when you have to draw the line. Entrepreneurs are frequently asked to make adjustments to their business ambitions. Are you willing to sacrifice the integrity of your product or brand?

Listen To Your Audience

Some people feel compelled to start bargaining right away in a negotiation, or play all their cards too soon. This could work to your advantage. Listening is a powerful tool in any leadership position, but especially in business negotiations. If you can pick up on any underlying objectives that might be at play in the negotiating process, you are that much more likely to successfully make those factors work for you rather than against you

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Be The Best-Prepped Person In The Room

Walking into negotiations with as much information as possible gives you the upper hand. It makes you more confident, and confidence is key. Of course, in some situations it's a group effort. But even then, make sure your team is prepared. Operating like a well-oiled machine means no detail will be overlooked.  

Know The Value Of Taking Risks

You may be able to get what you want without having to make any compromises, provided you keep a level head. There will also be times when you have to take a gamble in the negotiating process. Being bold and assertive generally pays off in the world of business.  

Set The Bar High

What makes a great business leader? How do some people become the powerful figureheads that we see in boardrooms and press conferences? If you have a vision, focus on delivering that and achieving nothing less than extraordinary results. Being an entrepreneurial leader isn't about being a bully. There are times when you will need to stand your ground and take firm action, but it's not all about exercising that authoritative muscle. Good negotiating skills are a balancing act and experience is the best teacher.