The business relationships that really matter are those that are long-term. Where both sides see a mutual benefit to continuing the relationship, whether it’s B2B, B2C, or employer-employee.
All too often entrepreneurs get caught up in the details of their services or products without understanding that long-term relationship management is key to their business success.
The entrepreneurs that get to the top, and stay there, recognize that interpersonal communication skills are vital to their maintaining healthy business relationships.
Whether negotiating over a contract, entering into a business partnership, or you’re having to have a respectful confrontation with a vendor, these negotiations all have risk and require trust to be successful.
Here’s how to quickly build with a mind trick that is proven to give you tactical insights into the other person's mind as if you are reading it ;)
People naturally respond to others the same way they have responded to them.
It's just human nature.
If you are negotiating with someone and you perceive they're being cooperative, you are more likely respond cooperatively. If you feel like they are not telling you the whole truth, you too will try to hide facts and conceal your deeper motives.
Why is this helpful?
Because people psychologically respond in measured ways. And when you are in a business negotiation and have to negotiate the how much, the when, and the how, you want to be able to assess the other side's motives quickly and strategically.
The strategic negotiator's job is half building the relationship and the other half uncovering the real underlying motivations of the other side.
You do this by making an offer first. Seeing how the other side reacts and taking it from there.
How would this work?
You are engaged in a negotiation with a client to establish timetables, rates, and deliverables. Most have a standard contract but this client wants to customize it. You need the work but know what they are suggesting is not doable. You throw out a suggestion to assess their reaction and they are not happy about it. They are not cooperating. So you try something else. And again they do not like the suggestion.
What are you to do?
You can either continue trying to negotiate or recognize that this client may end up being more trouble than they are worth. Is it really worth it for you if the client is going to be a real headache down the road? That's your choice to make.
Bottom line: every successful business relationship rests on trust. You start building that in the beginning. By learning how to use this trick you can guarantee that you're getting into business with people you can trust.