Everything You Need To Know About Negotiating According To Abeir Haddad

Negotiation vs. Compromise: What’s The Difference?

A compromise and a negotiation may seem the same at first. Both methods involve at least two parties who are trying to come to a conclusion. Since one party wants something different than the other, this process is a delicate compilation of strategies.

Types Of Negotiation Strategies

One single strategy will not work for every deal. Because businesses and individuals have different priorities, a typical negotiation strategy will need to be tailored to the situation.

Competition Style

The competitive style of negotiation is well-known in business. This strategy reflects the intense interests of one party. There is little compromise involved and usually means the other party will have to give up something they want.

Collaborative Style

A collaborative negotiation style is designed to let both parties win. By focusing on all parties’ needs, a negotiator can find something of value to everyone. This is an agreeable way to handle business and is non-confrontational.

Compromise

Compromising can be done in a negotiation. In this situation, both parties win, but they also give up something they want. It has both beneficial and discouraging elements to the deal. This strategy can be used in business as well as relationships.

Things To Avoid During A Negotiation

Planning is crucial to a successful negotiation. Trying to get the best deal without proper preparation will waste time and effort.

When To Accept A Deal

Knowing the bottom line is critical during a negotiation. Although that number will guide the process, being tethered to it may pose several problems.

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Abeir Haddad

Abeir Haddad

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Abeir Haddad is an esteemed Entrepreneur & Investor from Vancouver, BC. He is the President and Founder of Tryton Financial Corporation.