How To Negotiate And Influence People | Sanat Thakur #sanatthakur #realtysuccess #realestate

Sanat Thakur

13 Aug 202405:45

Summary

TLDRThis video script offers valuable insights into the art of negotiation, emphasizing the importance of thorough research and understanding of the objectives and expectations of all parties involved. It advises on the necessity of preparation, having a clear plan and alternatives, and maintaining confidence while respecting the other party. The speaker also highlights the significance of active listening, asking open-ended questions, and speaking less to gain more information, ultimately aiming for a win-win agreement.

Takeaways

🔍 Conduct thorough research before negotiations to understand the context and objectives.
💡 Preparation is key; ensure you are well-prepared to face challenges during negotiations.
🤝 Understand the objectives and expectations of the parties involved in the negotiation.
🧐 Have a clear idea of your own expectations and the outcomes you desire from the negotiation.
🛡 Develop an alternative plan (Plan B) in case the primary negotiation does not go as expected.
🤔 Keep at least two alternatives in mind to ensure flexibility during the negotiation process.
🏆 Confidence is crucial; gain knowledge and understanding to boost your confidence in negotiations.
👥 Respect the other party and maintain a positive demeanor throughout the negotiation.
🗣️ Practice active listening and ask open-ended questions to better understand the other party's perspective.
📉 Speak less and listen more; let the other party talk 70% of the time to gain insights.
📝 Maintain a clear understanding of your bottom line and be prepared to adjust your demands if necessary.

Q & A

What is the first step in the negotiation process according to the script?
-The first step in the negotiation process is to conduct thorough research on the subjects of negotiation, including understanding the context, the parties involved, and the objectives.
Why is preparation important before entering a negotiation?
-Preparation is crucial because it helps you understand the negotiation landscape, anticipate the other party's moves, and devise strategies to counter potential arguments or demands effectively.
What does the script suggest about the importance of understanding the other party's objectives in a negotiation?
-The script emphasizes understanding the other party's objectives to align your negotiation strategy with their needs and expectations, which can lead to more successful outcomes.
What is the significance of having alternative plans in a negotiation?
-Having alternative plans is important because it provides flexibility and options if the primary negotiation does not go as planned, allowing you to adapt and still achieve your goals.
Why should you have at least two alternatives in your negotiation strategy?
-Having at least two alternatives ensures that if one plan fails, you have another to fall back on, and it also provides a 'best alternative to a negotiated agreement' (BATNA) to leverage in the negotiation.
What role does confidence play in the negotiation process?
-Confidence is vital as it not only impacts your ability to communicate effectively but also influences the perception of the other party, potentially leading to a more favorable outcome.
How should one maintain respect for the other party during a negotiation?
-Maintaining respect involves acknowledging the other party's perspective, being polite, and avoiding aggressive behavior that could derail the negotiation process.
What is the recommended approach to speaking during a negotiation?
-The recommended approach is to speak less and listen more, allowing the other party to express their views and concerns, which can provide valuable insights for the negotiation.
Why is it important to ask open-ended questions in a negotiation?
-Open-ended questions encourage the other party to elaborate on their thoughts and feelings, providing more information that can be used to better understand their position and needs.
What is the significance of active listening in the negotiation process?
-Active listening is crucial for understanding the nuances of what the other party is saying, which can help in identifying their underlying needs, concerns, and potential areas of agreement.
How can one ensure they are well-prepared for a negotiation session?
-One can ensure they are well-prepared by conducting extensive research, understanding the other party's needs and interests, having clear objectives, and preparing alternative negotiation strategies.

Outlines

00:00

📚 Mastering Negotiation Techniques

The first paragraph emphasizes the importance of research and understanding in the negotiation process. It suggests that preparation is key to success, akin to preparing for an exam. The speaker advises understanding the objectives and expectations of the meeting, and being clear about one's own needs and alternatives. The paragraph also touches on the necessity of having a backup plan and the importance of active listening. It concludes with the advice to maintain respect for the other party while being assertive and keeping an open mind, as well as the significance of confidence in negotiation.

05:02

🚀 Enhancing Negotiation Skills with Structured Learning

The second paragraph offers a structured approach to learning negotiation skills, suggesting a two-hour course that has been clearly outlined on a board. The speaker mentions the availability of a mobile app for learning negotiation and directs interested individuals to a website for further resources. The paragraph ends with an invitation to like, comment, and subscribe for more content, indicating the speaker's engagement with the audience and the practical steps they can take to improve their negotiation abilities.

Mindmap

Keywords

💡Negotiation

Negotiation is a process where two or more parties discuss and resolve issues in order to reach an agreement. In the video's context, it refers to the art of effectively communicating and persuading others to reach a mutually beneficial outcome. The script emphasizes the importance of preparation and understanding the objectives of all parties involved.

💡Research

Research is the systematic investigation and study of materials and sources to establish facts and reach new conclusions. In the video, it is highlighted as a crucial first step in the negotiation process, where one must gather as much information as possible about the subject matter and the parties involved to increase the chances of success.

💡Preparation

Preparation refers to the act of making ready or getting set for something in advance. The script mentions that being well-prepared is essential for any negotiation, suggesting that one should come armed with knowledge and a clear strategy to effectively engage in discussions.

💡Understanding

Understanding is the ability to comprehend the meaning or explanation of something. The video emphasizes the need for a deep understanding of the negotiation topics and the parties' objectives, which is vital for formulating effective negotiation strategies.

💡Alternatives

Alternatives are options or choices that are available instead of the original one. The script talks about having alternative plans or options (Plan B) in case the primary negotiation strategy does not work out, which is important for adapting to changing circumstances during negotiations.

💡Confidence

Confidence is a feeling of self-assurance arising from one's appreciation of one's own abilities or qualities. The video mentions that confidence is key in negotiations, as it helps in asserting one's position and maintaining a positive demeanor throughout the process.

💡Respect

Respect is a feeling of deep admiration for someone elicited by their abilities, qualities, or achievements. In the context of the video, respect is highlighted as important not only for maintaining a positive atmosphere in negotiations but also for acknowledging the other party's perspectives and contributions.

💡Active Listening

Active listening is the process of giving one's full attention to the speaker, acknowledging their points, and responding thoughtfully. The script underscores the importance of active listening in negotiations, as it helps in understanding the other party's needs and concerns, which is crucial for reaching an agreement.

💡Open-Ended Questions

Open-ended questions are inquiries that cannot be answered with a simple 'yes' or 'no' and require more elaborate responses. The video suggests using open-ended questions during negotiations to encourage the other party to share more information and reveal their interests and concerns.

💡Assertiveness

Assertiveness is the ability to express personal opinions, rights, or needs in a direct, honest, and appropriate way. The script advises being assertive during negotiations, which means clearly stating one's position and needs without being overly aggressive or disrespectful.

💡Composure

Composure refers to the state of being calm and self-possessed, especially in difficult situations. The video mentions that maintaining composure is important during negotiations to prevent being overwhelmed by emotions and to ensure clear and rational decision-making.

Highlights

Research thoroughly on the price or subject you are negotiating to increase your chances of success.

Understand your objectives clearly before entering any negotiation.

Always have alternative plans (Plan B or Plan C) in case the initial negotiation doesn't go as expected.

Research the other party's needs, strengths, and weaknesses to gain an advantage.

Confidence is key in negotiations but maintain respect for the other party.

Maintain a positive attitude and stay composed, even if things don't go as planned.

Ask open-ended questions to encourage the other party to speak more during the negotiation.

Active listening is crucial to understand the underlying meaning behind the other party's words.

Read between the lines to understand the true intentions and needs of the other party.

Be flexible and consider exchanging other items or benefits if monetary negotiation doesn't work.

Always clarify and understand the other party's perspective and reasoning.

Gather clues during the conversation to identify areas where you can negotiate more effectively.

Ask follow-up questions to gain a deeper understanding of the other party's position.

Be aware of your priorities and bottom line during the negotiation.

Use empathy to connect with the other party and acknowledge their concerns.