Key negotiating skills

Negotiation is an essential skill in the world of business. Whether you're closing a deal with a client or negotiating a salary with an employer, the ability to negotiate effectively can make all the difference in achieving your desired outcome. However, negotiation isn't just about getting what you want; it's about finding a mutually beneficial solution that satisfies both parties. To do this, you need to have a set of key skills that will help you navigate the negotiation process successfully.

In this blog post, we will explore the top skills needed in business negotiation to help you improve your negotiation abilities. By honing these skills, which you will develop on the Master in International Leadership and Negotiation, you can become a more confident and effective negotiator and achieve better outcomes in your business interactions.

The key elements of negotiation

While every sector may have its differences and some certain skills may be more called upon than others, we’ll explain in this section the most important aspects for successful negotiations.

• Communication Skills: Communication is essential for effective negotiation. The ability to articulate your thoughts and ideas clearly is crucial to ensure that both parties understand each other's perspectives. Communication skills include listening actively, asking relevant questions, and expressing your thoughts in a clear and concise manner.
• Preparation: Negotiation requires extensive preparation. This includes researching the other party, their needs, their strengths and weaknesses, and what they're likely to expect from the negotiation. Being prepared also involves setting clear goals and objectives for the negotiation.
• Problem-Solving Skills: Negotiation often involves finding solutions to complex problems. Therefore, having strong problem-solving skills is essential. It involves analysing the situation, identifying potential issues, and developing solutions that will benefit both parties.
• Emotional Intelligence: Emotional intelligence involves the ability to understand and manage your own emotions and those of others. During negotiations, emotions can run high, and having the ability to navigate these emotions effectively can help to diffuse tense situations and find common ground.
• Flexibility: Negotiation requires flexibility and the ability to adapt to changing circumstances. You need to be able to think on your feet and adjust your strategy as the negotiation progresses. Being flexible also involves understanding when to compromise and when to hold firm on your position.
• Confidence: Confidence is essential in negotiations. It helps to establish credibility and trust with the other party. Confidence also helps to convey your message clearly and persuasively.
• Patience: Negotiation can be a lengthy process, and having patience is essential. It involves being willing to take the time to find common ground and reach a mutually beneficial agreement.

How to develop key aspects of negotiation?

While learning the theory is important, having the opportunity to put into practice your newly acquired negotiating skills is vital. At Universidad Europea, we’ll give you every opportunity to be prepared as a leader and negotiator thanks to an academic model based on experiential learning.

With the master's in leadership and Negotiation, you will learn from a leading faculty made up of experts in their field. Not only that, but the programme is also run in partnership with UNITAR, an institution that is part of the United Nations and is dedicated to training. You will have the chance visit the UN headquarters in Geneva and see for yourself the work the organisation does and the importance of negotiation.

In conclusion, negotiation skills are essential for success in business. The ability to communicate effectively, prepare thoroughly, solve problems, manage emotions, be flexible, display confidence, and exercise patience are all critical skills for effective negotiation. Developing and refining these skills will help you to become a skilled negotiator and achieve successful outcomes in your dealings.