Negotiation touches every part of our lives. Relationships in business and in our personal lives are negotiated. And the skills to do it effectively can often mean the difference between getting what you want or losing out. You don’t get what you deserve, you get what you negotiate!
In the first section of the book, How to be a Great Negotiator, written by property economist, investor and developer Neville Berkowitz, the characteristic traits of a great negotiator are explored in short, bite-sized nuggets of advice.
Over the next few months, we will bring you the traits needed to succeed at the art of negotiating.
(Courtesy of PersonalEmpowerment.co)
Every industry has specific terminology, abbreviations, acronyms, and so forth that may or may not be familiar to laypersons. Yet technical slang is often used with the assumption that all parties understand the references. And, at times, when familiarity with certain terminology is lacking, people may be reluctant to stop to ask for clarification, not wanting to look stupid and thinking that they’ll get the overall gist, even if they miss a point or two. This is a mistake in a negotiation. Not asking for clarification of terms you don’t understand leaves gaps in your knowledge that can handicap you in a negotiation, and may come back to bite you later.
Some clever or unscrupulous people may even throw in made-up terms to test your level of competence and knowledge, or to see if they can slip something past you. You also want to make sure you understand all terms, abbreviations, acronyms etc., written into a contract before you sign. Many negotiators and companies will try to slip in obscure terms to disguise elements in the contract that benefit them and are unfavorable to you.
It is your responsibility as a negotiator to make sure you understand everything that is said and the meanings of all terms and phrases used. A great negotiator is not afraid to stop and say: “Sorry, I’m not familiar with that term. What exactly does it mean?” And a great negotiator always reads and understands every word of an agreement or contract as if his or her life depends on it.