Negotiating successfully

Negotiation is a process where two or more parties with different needs and goals discuss an issue to find a mutually acceptable solution. In business, negotiation skills are important in both informal day-to-day interactions and formal transactions such as negotiating conditions of sale, lease, service delivery, and other legal contracts.

Good negotiations contribute significantly to business success, as they:

  • help you build better relationships
  • deliver lasting, quality solutions - rather than poor short-term solutions that do not satisfy the needs of either party
  • help you avoid future problems and conflicts.

Negotiating requires give and take. You should aim to create a courteous and constructive interaction that is a win-win for both parties. Ideally a successful negotiation is where you can make concessions that mean little to you, while giving something to the other party that means a lot to them. Your approach should foster goodwill, regardless of the differences in party interests.

A good negotiation leaves each party satisfied and ready to do business with each other again.

This guide explains why negotiation is important, and outlines strategies and tactics for negotiating well.

Contact

General enquiries 13 QGOV (13 74 68)

Connect