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Here are 11 trading tips you need to know

Flexibility, understanding, and wisdom make it possible to negotiate without arrogance and get good discounts. These tips will help in getting better-contracting conditions.

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The search for service will always involve a negotiation step, even if it is quick and straightforward. The client has the capital, authority, and power to get better terms. On the other side, there is the supplier, who needs to be convinced, and for that, you must know negotiation tips.

They help anyone to know how to make good arguments and make timely decisions when closing a deal. Flexibility, understanding, and wisdom make it possible to negotiate without arrogance and get good discounts. Next, learn about 11 negotiation tips and see how to use them when getting better-contracting conditions!

1. Have a Good Knowledge of Your Market

To trade, you need to understand what you are talking about. And that complete knowledge of the bitcoin loophole is necessary for high profit.  In that case, you must master the segment’s knowledge, knowing details such as prices, contract conditions, and efforts required in each demand, in addition to other fundamental issues.

If you have this domain, you will naturally know how to impose it at the time of negotiation. Your knowledge will help with good arguments that show the service provider that you know what you want and that you will not accept any conditions. Therefore, seek as much knowledge as possible before trading. When submitting your proposals, make it clear that you are familiar with the procedures and values. Use the proper terms and talk about the specific segment.

2. Know How to Listen to The Position of Others Involved

One of the top trading tips has to do with dialogue. All parties involved need to speak up to show their position on the situation. This is kind and respectful, in addition to generating, in fact, a productive conversation so that the best terms are reached.

The other side also needs to show arguments, and this is of great value in a negotiation. At some point, the supplier needs to be sure that he is really moving towards an agreement. This makes him more likely to listen to what you have to say without any kind of blockage being created. From there, your convincing power can kick in. You were respectful and flexible, so your arguments will be seen from a different perspective.

3. Build a Pleasant Trading Environment

A negotiation doesn’t have to be a chat between friends in a bar, but it also shouldn’t be a dispute in a hostile climate. This creates insecurity for both parties, and both will feel less likely to give in. From the first moment, it is important that you cherish a light and pleasant approach.

If you manage to maintain a friendly and pleasant atmosphere even when imposing security on your decisions, there will be better supplier acceptance. No one needs to feel cornered or intimidated. After all, it’s just an ongoing deal. Introduce yourself with a friendly smile, friendliness, and warmth. These are some details that make the situation more favorable.

4. Control Your Anxiety for a Good Deal

One of the fundamental trading tips: control your anxiety about closing a good deal! No matter how favorable the situation is, rushing can put everything at risk. One slip, and you can even regress the advances you’ve made. It is necessary to have the proper timing to act within an agreement.

This anxiety can appear both in a negotiation that has yielded good results and in one that is stuck. To rush in when all is well is to risk the chance of getting an even better deal. Already acting like this when everything is bad can show that you are not firm enough. Look for opportunities within the dialogue and take the negotiation to the last resort. Patience is a very important virtue for reaching an agreement.

5. Be Flexible but Firm in Your Ideas

Never forget that, on the other side, there is someone who also defends interests. That doesn’t mean they are against you. Those interests may even run counter to yours, but that’s just the market. Be flexible when you see that the supplier is striving to get good terms, as this should be valued. On the other hand, be sure to be firm in your ideas. Reinforce what you think about current business conditions whenever you can. 

This will serve to show that your decision will be made within your line of thinking. An advantage won’t always be obtained the first time, but a good partnership agreement also happens in the long term. Flexibility helps to understand and take advantage of this well.

6. Be Willing to Listen and Avoid Arrogance

One of the trading tips that will be very helpful in the long run is to avoid arrogance. As much as you are in a position of power, as you hold the capital, this cannot influence the way a provider is treated. Always be willing to listen, even if you don’t agree with the arguments put forward.

Providers are more willing to make their requests more flexible for those who have the ability to dialogue in the right way. If your stance is arrogant, how will the parties involved be convinced by your arguments? This can rule out any possibility of getting a good deal in your favor.

7. Maintain a Confident Body Posture

Keep in mind that you may be trading with people who are experienced in this, and trust me, they will know if you hesitate! One of the points that make the most difference is body posture. If yours does not show confidence, the supplier will certainly use it in his favor. Then your arguments will get weaker and weaker.

Always be with an upright body posture, with your head up and slightly facing forward, that is, in the direction of the person you are negotiating. This is called the “eagle posture” and should be used when listening.

It conveys the idea that you are decisive, paying attention, and demanding an objective answer. This will intimidate smoothly and without being invasive or overbearing. The supplier will understand that you have the resources to close the deal and will tend to facilitate the conditions.

8. Create Value for Your Product

It is very common, during a negotiation, for the offering party to reduce the value of their product or service, believing that this will make the deal easier. However, this ends up devaluing your brand. It is very important that you value your work and do not accept any proposal.

Another interesting point is that when the offering party cheapens the proposal, the contracting party may become suspicious. Do you know that famous expression “cheap is expensive”? So, everything that is far below what is practiced by the market does not give credibility at the time of negotiation. So don’t confuse trading with low prices.

Instead of using the devaluation of your product or service as a form of a bargain, choose to offer the customer guarantees or discounts if their expectations are not met, such as the deadline to be met, for example. The important thing here is to be aware that persuasion is very focused on the benefits that your business can provide to the customer.

9. Negotiate with a decision maker

This is one of the most important trading tips we have for you. Before starting any kind of agreement, it is essential that you investigate and validate who is, in fact, responsible for making the decision. In large companies, it is very common that part of the deal closing process is carried out by assistants or analysts who pass on to the managers the conditions aligned in a meeting.

This could end up jeopardizing the closing of the partnership. Communication noises impact understanding and, consequently, the way information will be passed on to decision-makers. Therefore, choose to request negotiation rounds with the presence of the responsible leadership.

10. Read the Signs

  1. The human body speaks more than we imagine. Also, the absence of verbal feedback doesn’t mean there isn’t a message being expressed. It is necessary to learn to identify and interpret the “unsaid” during a negotiation process. To become a great negotiator, you can count on the support of some books that detail how the human body reacts to different situations, such as “The Body Speaks”, a book by Pierre Weil and Roland Tompakow.

Language is not just oral or written. There is the non-verbal, which is a resource widely used by professionals in the field of psychology, police, and law to identify if someone is lying, for example. As a negotiation technique, body language reading should always be used to identify the other party’s weaknesses and thus be able to create a quick and accurate strategy during the conversation.

11. Make Partnerships

For a long time, the market saw the negotiation process as a commercial relationship with the objective of finding the best cost for companies. However, today the concept of “partner” is spreading, that is, neither buyer nor supplier: but business partners who unite in favor of a common objective.

With this concept, the commercial relationship between the brands becomes healthier. It is essential to apply strategy resources that focus on the long-term relationship as if it were a form of symbiosis. As an example, let’s say you have a farm and you always produce good crops. When hiring a supplier to carry out the transport, currently, the tendency is to establish the “relationship” to have a partner, someone you can trust, that your business can trust.

Good negotiation tips can result in valuable deals, especially within the logistics industry. After knowing these techniques, you are ready to get contracts with lower costs and establish lasting partnerships for your business! In the corporate environment, we negotiate all the time. What do you think about putting our techniques into practice in your daily life?

(ThePrint ValueAd Initiative content is a paid-for, sponsored article. Journalists of ThePrint are not involved in reporting or writing it.) 

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