Negotiation, A Much Needed Skill For Entrepreneurs


Negotiation, A Much Needed Skill For Entrepreneurs

Bangalore: Negotiation is not an art but a science where an experienced negotiator makes all the other parties in the argument believe that they have reached a win-win situation when actually this is far from the truth. But even the most experienced negotiators, at times, find themselves in situations where they will not be able to reach a promising conclusion, if they reach one at all. This situation, dead lock, can be considered as the limbo of every negotiator. Dead lock is a situation in which agreement in an argument cannot be reached because neither side will change its demands or accept any of the demands of the other side.

Every entrepreneur needs to be a good negotiator, as negotiation is a key part in building the company. Be it hiring employees, signing a new partnership, gaining new customers, or closing in on VCs, negotiation is an essential skill to have. The skill of negotiating comes as a natural one to some people, but for others, it has to be developed. Even the naturals need to polish their skills and really learn from a trained professional how to conduct a great negotiation. A trained negotiator can identify early on if it is heading to a dead lock situation, and might be able to take measures in order to keep this from happening. But for a natural with no training this will be impossible, they will be in the dead lock situation even before they realize it.