Negotiations is simply agreeing on terms of a deal. So how do you out negotiate someone? You out negotiate someone by making some concessions but not enough concessions where you get the bad end of the deal. The biggest skill people lack in negotiations is not knowing when to walk away from a deal. People don’t have to take every deal in front of them. There are billions of deals consummated every day. There will be billions more. But people are egocentric and they think that when they walk away from one deal another one will never appear. That is a silly mode of thought which will leave you unsatisfied at everything you ever agree to if you don’t learn when to walk away.
The second part of negotiations is the product or project you are trying to accomplish. You have to know everything about what you are in negotiations for. If you don’t know everything about it, you better know more then what the person whom your negotiating with knows. The person with the most information on something always gets the better end of the deal. It’s just like school. The harder you study the better grade you get. The more you know about what you are negotiating for, the better points you can make about why the other party should take a certain course of action. The less you know, the more they can manipulate you into taking a certain course of action. The general premise is to know everything before you sit down to the bargaining table.
The final part of developing great negotiating skills is learning to package concessions. Give people concessions. Learn how to give meaning less concessions. The more you concede, the more people feel they have gotten their way. A person who makes concessions is more likely to close a deal. If you verbalize things you would have given up regardless if it was mentioned or not it makes the resolution resounding. If you learn how to package meaningless concessions, know your material, as well as your limits, you will never ever walk into a bad deal again.
How to Out Negotiate Anyone