Here's Our Guide on How To Improve Your Negotiation Skills

Helpful summary

• Why you can trust us: Mentorship programs at MentorCruise have a proven track record of helping individuals overcome personal and professional challenges. Mentors like Shelby Corbella, Mariana Carvalho, and Vikas Agarwal demonstrate how our mentorship programs can unlock your persuasion and negotiation skills to advance your career.
• Why this is important: Understanding the importance of strong negotiation skills is not only beneficial for career advancement but is also very handy in navigating daily social interactions and handling conflict resolutions.
• Action points: We recommend practicing the negotiation skills listed in this guide. Make sure you work with a colleague or a mentor to get feedback.
• Further research: We invite you to explore MentorCruise to find a personalized mentorship program and develop your negotiation skills. We have more than 4,500 mentors, including leaders from Amazon, Airbnb, and Netflix, and we are confident that you can find one that you can work with. 

Need tips on how to improve your negotiation skills?

Whether you are negotiating a salary increase, a business deal, or a personal compromise, strong negotiation skills are crucial. 

However, improving your negotiation skills can be daunting, especially if you don’t know how and where to start.

Here at MentorCruise, we understand the importance of negotiation skills to help individuals reach mutually beneficial agreements, resolve conflicts, and enhance relationships. 

So in this article, we will help you understand the core elements of negotiation, the benefits of being an effective negotiator, and actionable strategies to improve your negotiation skills. 

Why listen to us?

At MentorCruise, we have helped countless individuals excel not only in their professions but also in their personal lives.

For instance, our mentors like Shelby Corbella have helped individuals not only with technical skills for their careers but also with personal development, professionalism, and personal hurdles blocking their overall growth.

We also invite you to visit our case studies and discover how our mentorship programs have positively impacted the lives of many people all over the world.

Not to brag, but our client testimonials speak for themselves! We also have a solid reputation due to positive client reviews on Trustpilot and Product Hunt.

What are negotiation skills?

In a nutshell, negotiation skills help people create the outcomes that they want. These skills involve a mix of communication techniques, persuasion, planning, strategizing, and emotional intelligence. 

Whether you are discussing a business deal, salary, or conflict resolution, a strong negotiation skill can help establish a middle ground that benefits all parties involved.

Benefits of having effective negotiation skills

• Career Advancement: Effective negotiation can lead to promotions, better job offers, and improved working conditions.
• Conflict Resolution: Strong negotiation skills help resolve disputes amicably, leading to healthier relationships.
• Increased Confidence: Mastering negotiation boosts self-assurance, making individuals more assertive in their demands and expectations.
• Financial Gains: Skilled negotiators can secure better deals, higher salaries, and advantageous contracts.
• Enhanced Relationships: Building rapport and understanding through negotiation fosters trust and cooperation.

7 ways to improve your negotiation skills

1. Manage your emotions

Research indicates that emotions such as anxiety and anger can cloud judgment, escalate conflicts, and hinder resolution efforts.

By building emotional intelligence, you can recognize and manage your emotions effectively, allowing you to stay composed and focused on the facts during negotiations, which is essential for reaching a mutually beneficial agreement​.

2. Invest in preparation

Experts suggest that up to 80% of your negotiation efforts should be dedicated to preparation.

Hence, ensuring that you know your goals, the best alternative to a negotiated agreement (BATNA), and leverage points allows you to enter negotiations with a clear strategy. 

With proper preparation, you can present your case confidently and considerately, increasing the likelihood of a favorable outcome​.

3. Practice regularly

Regular practice and engaging in role-playing scenarios can help refine your negotiation techniques and build confidence.

Therefore, practicing negotiations with colleagues, friends, or mentors in a safe environment allows you to experiment with different strategies and receive feedback, effectively improving your skills to become more adept at handling real-life negotiations.

4. Build rapport

Establishing rapport and building a healthy connection with the other party can encourage collaboration. 

There’s a right and a wrong way to go about this. You have to be genuine to maximize the chances of a successful agreement.

Small talk, clear communication, and active listening skills are all good methods of building rapport as these actions show respect and understanding.

5. Study successful negotiators

Learning from successful negotiators can provide practical insights on how to improve your negotiation skills.

Start by reading biographies, watching interviews, and attending talks by successful negotiators to gain new knowledge and perspective on your skills and techniques. 

Then, apply their proven tactics to your negotiations and see how they can improve your negotiation outcomes​.

6. Find a mentor

A mentor can provide personalized guidance, tailored advice, feedback, and strategies to refine your negotiation abilities. 

Whether you need help preparing for an upcoming contract or want to develop a long-term plan to improve your skills, a mentor can share their negotiation experiences to help you achieve your goals.

MentorCruise connects you with experienced professionals who can offer valuable advice and mentorship on how to become a better negotiator. We have thousands of skilled mentors and investing in our mentorship program can accelerate your learning curve and provide you with the confidence needed to negotiate more effectively.

Another upside in partnering with us in developing your negotiation skills is you can do it online on your own time! You can learn how to improve your negotiation skills at your own pace and schedule, not sacrificing your work and other daily routines.

7. Seek feedback

If you want to keep improving, seek feedback on your negotiation skills as it helps identify strengths and areas for improvement.

Typically, you would partner with a colleague or a mentor for this. They will set out frameworks for improvement as you apply them in role-playing exercises.

Best practices for improving your negotiation Skills

When you start practicing your negotiation skills, here are some tips to should follow:

1. Preparation and Research: Before entering any negotiation, prepare by researching the other party. Have empathy too. Put yourself in their shoes and understand the market context that they operate in.
2. Active Listening: Focus on truly understanding the other party's needs and concerns. This involves not just hearing their words, but also paying attention to non-verbal cues and asking clarifying questions.
3. Effective Communication: Clearly articulate your points and back them up with data. Use persuasive language while remaining respectful and professional.
4. Hiring a Mentor from MentorCruise: Engage with a mentor specialized in negotiation through platforms like MentorCruise. A mentor can offer you personalized advice for your industry.
5. Emotional Intelligence: Develop your emotional intelligence to better handle conflicts during negotiations. Learn to manage your emotions and meet the other party at their level.

Boost your negotiation skills with MentorCruise

Improving your negotiation skills is an ongoing process. As you move up the corporate ladder, you’ll meet tougher negotiators every time.

By adopting our strategies, you can become a more effective negotiator, leading to better outcomes in your professional and personal life.

If you want a reliable mentor to help boost your negotiation skills, try working with a mentor at MentorCruise. Our platform connects you with experienced mentors from all professions and backgrounds to guide you in developing professional and personal skills.

Start with our 7-day free trial and take the first step to becoming a better negotiator on your job and daily life!