Negotiation is intrinsic to every area of business . Business owners, skilled professionals and ordinary employees alike negotiate. The ubiquity of negotiation means that many misconceptions have grown up around business talks.
What the biggest myths associated with business negotiations? And what is their impact on the end result of meeting the needs of both sides of the process?
If the other side wins then I lose
A large proportion of negotiators mistakenly think that negotiations are a tug-of-war. The effect of this is to assume that if one side wins then the other automatically loses. In a slightly milder version, the negotiation process is also wrongly compared to dividing the pie. If one side gets a bigger piece then the other is forced to settle for a smaller piece.
Meanwhile, on most good negotiation training one can learn that the needs of the two parties to a process need not be in opposition to each other. In the vast majority of processes, it is possible to reach a solution that provides the expected benefits to both parties. Such a negotiation is referred to as a “win-win”.
Money is always the most important thing
Money is an important element in any business relationship. Making a profit is, after all, the basis of business. This fact influences the attitudes of negotiators, who often consider money to be the most important element in the process.
Meanwhile, money is not the only need for companies. Research clearly shows that in most business conversations, it is not even the most important need. Very often, the length of the relationship or opportunities for growth are higher on the list of priorities. It is therefore extremely important to know the actual needs of the other party. Otherwise, there is no hope that they will be met. And certainly not with money.
The other side says what it really wants
Another popular a myth in the area of business negotiations is the belief that both parties to the process are clear about their needs and expected benefits. The reality, however, is different. Negotiators all too often conceal their true expectations and consider the negotiation process to be a game in which it is wrong to reveal all the cards. It is worth bearing this in mind and striving for a situation in which positions are presented openly and clearly.
These are just three examples of common myths associated with business conversations. Participants negotiation training learn more about them, and with this knowledge it is possible to further developing negotiation skills and achieving better results.
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