Originally written by paulfisher on Small Business
Is negotiation skill an art or a science?
In today’s data-driven world, businesses, and those who negotiate on their behalf, rely on data to inform and power the decisions they make. But data isn’t the only driver that can boost a company’s bottom line. My experience with UK and international companies has shown that even with time pressures, companies still value face-to-face communication and importantly, the negotiation skill coaching to give them the confidence to do this.
Given the increasingly complex world within which these organisations operate, it’s crucial for them to strike the balance between data usage and the softer negotiation skill needed to ensure they get the result they want.
>See also: How to negotiate a commercial lease – tips for negotiating with a landlord
What are the challenges to effective negotiation?
But what does that look like in practice and what are the challenges employees face when it comes to negotiating effectively?
Knowing what you don’t know
When entering a negotiation, how much you know is crucial. But preparation is also key. It’s essential that you can identify what you may need to know so you are best prepared to achieve your goals.
This can be achieved through a

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The ability to negotiate a good deal, whether it is your salary or the value of your IPO, is essential for any businessperson looking to succeed. The thrill of making your move, anticipating your counterpart’s next move, all the while keeping your end goal in sight and your strategy intact, is what successful entrepreneurs experience
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