Whether you are bargaining with your child, with a vendor at the roadside, with the President, with a prospective employer, or with one of your clients, it is one of the skills that can make a big difference in your quality of life and the way you get people to do what you want them to do. Some people can bargain, and some don’t and this depends on your personal choice, but sometimes you cannot do without it.
Suppose your client wants to pay you far below your rate, and you don’t want to lose the project due to whatever reasons; in this case you will need to bargain. You will need to arrive at an arrangement that makes both of you happy. This is called great bargaining. But in most of the situations, bargaining means getting the best deal out of available deals.
If you are not comfortable bargaining you can practice. You can also create circumstances that give you an advantage over the other party. Listed below are a few things you can do:
Always have a plan B
You can negotiate confidently if you know that whether your bargaining tactics work or not, situation is never going to be totally bad for you. This means having a Plan B. If nothing works, things are still going to work for you.
Let it be known that you have the alternatives
You should make it clear to the opposite party that you also have other options if the current negotiation doesn’t work. The other party must be made aware of the fact that you have an alternative and you’re not hanging by the cliff. If a client doesn’t want to pay you what you deserve, you can let it be known that there are already clients who are paying you what you ask for.
Provide something more that is unexpected by the other party
Extra, additional prospects are always appealing. For instance, if your client doesn’t want to pay you for the services you are offering, offer something extra without lowering your fee. For instance, if you’re going to write content for your client, throw in half an hour of keyword research and convey it to your client that your content is going to be search engine optimized. This way, you’ll get the money that you want and the client will think that he or she is getting more than what he or she had initially bargained for. It is a win-win situation.
Know the strengths and weaknesses of the other party
I wouldn’t suggest that you manipulate the bargaining process based on the vulnerabilities of the other party, but it helps if you know the real situation. For instance, if you know that your client can pay your fee but still he or she is not eager to, you can push further. On the other hand, if you know that he or she will be really stretching his or her limits by coming up to your level, perhaps you can make some adjustments. Similarly, if there is something that you know the other party will find irresistible, you can include it in the bargain to strengthen your position.
Become a comfortable talker
People who can convey their thoughts convincingly and with conviction are always at a greater advantage. If you can put your point across confidently the other person will listen to you. On the other hand if you don’t sound confident the other person will take it that you yourself are not sure of what you are offering and what you want in leu of that.
Use the “nimble” technique to your advantage
This is when things are already settled and then one of the parties adds a couple of things here and there without increasing the value that has been agreed upon. If you are a freelancer, you must have come across clients who, after the project has been settled and allotted, suddenly tell you to also throw in a few other things that, according to them, don’t take much effort (for instance, asking you to spend half an hour on keyword research now that you’re going to write entire content for the website). This can work the other way also. Suppose you have taken on a project and also add a couple of other things and bill your client for that (since he or she is already paying you $500, he or she wouldn’t mind an extra $25).
You can develop bargaining skills to get out of tight situations. As already mentioned in the beginning, bargaining is a part of life no matter where you are using it. A bit of preparedness and knowing what you want can help you in a big way.