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How To Get Better Insider Information When Negotiating – Negotiation Tip of the Week

When negotiating, insider information is a valuable commodity. Having better insider information when negotiating is even better!

Consider using the following strategies to gain insider information in your negotiations.

• Time:

Depending on the time you need to collect information, think about how you can ask yourself and the stakeholders that will be useful in your negotiation efforts (Note: Remember that the questions you ask will determine the answers you receive; which in turn will determine the strategies you adopt. If you ask the wrong questions, you will start down a path of negotiation that is not very useful). Asking the right questions involves knowing the outcome you seek, how you can achieve it, the obstacles you may encounter, and what alternative strategies you will use to overcome the obstacles that prevent you from achieve your goals. Also, remember that the quality of the answers you receive will depend on how you ask. If a person is in a hurry, lacks rest, or is filled with stress, they can easily reveal information to the insider simply because they are not being monitored as much as they are.

• Questions to Consider:

As you evaluate what questions to use to maximize your negotiation efforts, think about how you use presumptive questions; in a negotiation, assumptive questions are questions that give the façade that the questioner knows more about the situation he is asking about (eg ‘You gave discounts to other buyers before, right?’ implication is that you know, rightly or wrongly, that discounts have been given before).

Thoughtful questions are the best ways to gather information. Even if the answerer says your guess is wrong you get more information/insight.

• Body Language/Nonverbal Clue:

If personally, observe to what degree the person moves closer or further away when pondering the answer to your question(s); this will give insight into whether they are hugging or putting distance between you and their response. Turning away may indicate that they do not want to participate, which may mean that they do not want to reveal the answer to your question. Leaning forward may mean they are willing to engage. Notice how and when they lean.

When you’re on the phone, listen for intonations, pauses, and emotions displayed. Note the underlined words, too. This will indicate the possible hidden messages it contains.

To practice and improve your listening skills, close your eyes while talking to someone on the phone. Throw a question out of the ordinary in the conversation and listen to the answer. In particular, note how long the other person pauses before answering, their intonation, voice quality (e.g., confused), and the follow-up question(s) they raise about the timing of your question. . Then, ask for their thoughts when you ask the question. Over time, you will become better at interpreting the thoughts and thought processes of others.

To gain insider information that can be used to your advantage in a negotiation, learn what questions to ask, the best time to ask them, and how to validate the answers you receive. By implementing the strategy of gathering and using insider information in your negotiations you will increase your win rate in negotiations… and all will be right with the world.

Remember, you are always negotiating!

#HowToNegotiateBetter #CSuite #TheMasterNegotiator #InsiderInformation

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