GetIt Negotiation - Mirjam van der Kamp

5 Truths About Negotiating:

✅ Your bargaining strength is in your heart.

How you set your mindset towards negotiations can really impact your performance. If you can believe it, you can do it!

✅ Knowing your products inside and out can seal the deal.

If you have no idea what or why you’re selling anything, then how do you expect others to buy it and at your terms?

✅ Preparation is key.

When preparing for negotiations, make sure to be ready for any incoming opposing tactics, questions, and even threats.

✅ Come out both as winners, rather than both losers.

When negotiating, strive to come victorious but not only you but your opponent as well. Despite the contrary, negotiations are not a zero-sum game.

✅ Confidence plays a huge role.

Being confident has a significant impact on how you represent yourself and your offer and can impact the decision.

Can you add any other negotiation truths to the list?

Hamlet, Prince of Denmark, the main character in William Shakespeare’s play, begins his monologue with the following world-famous line: “To be, or not to be, that is the question.”

He asks this in the midst of an internal conflict brought about by his own doubts.

Entrepreneurs are also regularly faced with doubts when it comes to negotiating, and one particular doubt is this: to open, or not to open? Should I open the negotiation and put the first offer on the table, or should I wait until the other side shows their hand first?

Because this question raises so many doubts, I want to spend some time thinking about it. There are still plenty of people who think it is better to wait until the other side opens.

If we are going to be able to assess something, we need to be able to compare it. And that is also the case with anchoring. If we use anchoring in a negotiation, we create a point of reference. It is important to bear in mind that the result we get is linked to who makes the first offer.

The reason why we often avoid making the first offer is because we do not feel like we are strong enough to do so. We lack control in the negotiation.

The anchoring effect is very powerful in a negotiation and brings financial rewards. So, it is important to be able to identify an opportunity and know how to create that opportunity.

When should you make the first offer, and when should you not?

It is not a good idea to make the first offer when the other party has more information than you. Here, you can think about facts and figures in a specific area. If, for example, you are negotiating with a human resources consultancy, it is very likely that they have more information than you about market wages.

Another situation where it is not a good idea is if you are not sure what your zone of possible agreement (ZOPA) is. However, it is a good idea to make the first offer if you do know what it is and you know what your, and the other party’s, objectives and interests are.
I would recommend studying ahead of your next negotiation and making sure you are very well prepared. Remember that anchoring brings financial rewards and is worth doing.


I hope this helps!!