In Kenya, haggling is an everyday occurrence. It is deeply embedded in our culture, from haggling in a street corner for a thrift pair of pants, to buying a car, we love to negotiate for good deals. Often, the goal of negotiation is in getting what you want, however, the fact is that, the best deals and the ones with a long term relationship, incorporate terms from all involved parties. Negotiating relies just as much on personality and soft skills as it does on quantitative analysis and valuation.
If your Chama is looking to secure some assets, say for instance plots of land. The members chosen to attend the initial meeting with the land owners, need to be friendly and likable. The best negotiators are also excellent communicators. The members chosen to represent the team should follow the following tips to ensure success;
1. Prepare Adequately:
Before sitting at any negotiating table, ensure you have a few basics about all the parties that will be involved. Have a target on what you want out of the discussion. In understanding the other people, you will be better placed to know how far you can push and what lines not to cross.
2. Active Listening Skills:
It is in actually understanding the seller that one can engage appropriately, and know what negotiation route to follow in order to ensure that you get what you want out of the sit down. Listening gives you the answers to where the win-win solution lies.
3. Seek Win-Win Deals:
For our ‘ask’ to be acceptable, we have to show the other part at the tabe, how it will benefit hem as well. To go for win-win, we not only have to be empathic, but we also have to be confident. We have to be considerate and sensitive, in the same measure to be self-regarding.
4. Be Flexible:
A good negotiator knows when to push their partner further and when to give them space. This flexibility, combined with open communication, allows for an artistic dance in negotiations, enabling both sides to work out solutions, even non-standard ones, with attention to culture and mutual respect.
5. Ask:
You can never go wrong in having all the details ironed out. If something hasn’t been touched upon, seek clarity. In any business, the clearer the deal and the detailed it is, the better for the involved parties. For instance if buying land, seek to know what kind it is, is it ancestral? Is it freehold? Did it have a previous owner before the current seller? Conduct due diligence and check authenticity and legal repercussion before investing.
In any negotiating table, you have to always to be ready to walk away. This gives you the upper hand not to seem desperate or end up settling for a bad deal. Always have a plan B in your back pocket. It doesn’t hurt to give options on the table. Not every negotiation results in a deal. Whatever happens, if an agreement can’t be reached, be gracious and agree to part as friends since you never know when you might have to deal with the same people or company again.
