In this article you will know 7 trading strategies used by large businessmen worldwide and that will guarantee you to get successful deals.
Regardless of your occupation, you are always developing some trading activity.
Maybe you are not exchanging billions of dollars with your partners or clients. However, simple activities such as requesting a change in your work schedule, negotiating a salary with one of your employees, processing a bank loan, discussing with your partner about the destination of your next vacation, and even interacting with your friends; they are business.
This is why you must know and apply trading strategies to get the best possible benefit.
If you practice the following trading strategiesyou will feel much more comfortable during difficult negotiations and you will guarantee excellent deals.
7 negotiation strategies to guarantee successful deals.
- Never say yes to the first proposal.
- Take some time to answer.
- Never be the first to say the price.
- Don’t try to make the other lose.
- Learn as much as you can about the other party.
- Anticipate different scenarios.
- Close the business leaving all the information clear.
Let’s see the trading strategies in detail:
1. Never say yes to the first proposal.
The first offer that all negotiators make is usually less than the one they are willing to deliver.
In fact, it is very possible that your first proposal is very inferior to know your attitude towards the negotiation; even when they know that it is very likely that you will reject it.
Making an affirmative decision on the first proposal will show you desperate and weak in front of the other party.
If this offer does not meet your expectations, make a counter offer that does.
Always wait for the answer even if you think it may be negative, but never lower the price before giving the other party a chance to answer.
“Successful negotiations allow long-term business relationships, facilitating growth and association with new strategic allies”
2. Take time to respond.
When they ask you questions or proposals, do not respond in a hurry. Take some time and think about it.
In this way, the other party will know that you are not needed and that you are a thinking being, who does not make decisions lightly.
3. Never be the first to say the price.
Your main objective should be to push the other party to show what their intentions are and to reveal what they really want.
So try to let him or her do most of the talking. Just because you know what you want doesn’t mean you should be the first to speak up.
To achieve this, it is vital that you know how to listen correctly to your counterpart.
Next we will see another 3 trading strategies, but first, we would like to ask you a favor. Just vote from 1 to 5 to find out how you’ve found the article so far. Thank you!
Let’s keep going…
Four. Don’t try to make the other lose.
The real intention of a negotiation is that both parties end up winning. If your intention is to make the other party lose, it is very possible that you will also end up losing.
Successful negotiations make it possible to maintain business relationships for a long time, facilitating not only growth, but also meeting new strategic allies.
In the long term, your goal should be to build business relationships, not destroy them.
A good negotiation is one in which both parties win. Click To Tweet
5. Learn as much as you can about the other party.
Before starting any negotiation, you must know the interests and position of the other party; and confront them with your position and your own interests. This in order to prepare your negotiation arguments much better.
Remember that all people trade every day, so never underestimate your experience or your opponent’s.
If a negotiation reaches a point where neither party wants to budge, there may be a lot of emotions involved; blocking the possibility of finding a possible solution.
A great negotiator controls his temper and his emotions.
6. Anticipate different scenarios.
Another advantage of knowing your counterpart well is being able to create contingency plans.
If at the time of negotiation, your plan fails; you must have plan B, C, D, etc. And know how to respond to different scenarios.
In addition, by having enough information, you will also be able to identify your weak points. In such a way that you maximize your profits. Or in the worst scenario, lose as little as possible.
7. Close the business leaving all the information clear.
This is one of the most common sales strategies, and it is for a reason.
At the end of the negotiation, make sure that both parties have everything absolutely clear:
- responsibilities.
- Time
- Rights.
- Arbitration instances.
You don’t want to get any last minute surprises.
Conclusion.
Life is a constant negotiation, and depending on the negotiation strategies you use, you will have a better or worse time.
Keep in mind that the success of things is based on practice. So do not hesitate to start applying these trading strategies so that day by day you feel more confident.
I hope this information will be of great help to you 🙂
And remember, if you are really interested in creating your own business, you can read our book “How to create a company while working: Discover how to manage your time, manage your money and motivate yourself while creating a company and working for another” , where you will find all the information you need to found your own company, without having to leave your job.
