Wednesday, June 4, 2014
Navigating The Art Of Negotiation
On Thursday May 15th OU INC hosted the second entrepreneurial workshop in its Growing Your Business, Tools for Success Workshop Series. The topic for the event was Navigating the Art of Negotiation and was taught by legal expert Michael Sugameli. Mr. Sugameli is a principal in the firm of Sugameli and Sugameli, P.L.C. and is also a Management instructor at Oakland University. Understanding how to negotiate is beneficial in everyday business (contracts with customers, patents, negotiations with funders) and in personal life (registering for classes, purchasing a car, scheduling dr. appointments).
The workshop was designed to help attendees to grow their negotiation skills in both personal and business situations. Having extensive experience in negotiating, Mr. Sugameli pointed out several factors to watch for in negotiations that can dynamically change the outcome. While there are several tactics that individuals can deploy, there are also other factors to consider that can give great detail into what the other side is thinking.
Understanding time, power, cultural differences, and how to interpret body language are all important in negotiation. Knowing how to interpret the speed and tone of someone’s voice, where your meeting is taking place, who holds power and when, whether someone is stalling or not, and what is culturally acceptable can make a world of difference in negotiations. From understanding that an individual who is cleaning their glasses is stalling to knowing that a thumbs up is not always appropriate for each culture can help you to avoid making mistakes in your negotiation.
Negotiation is an art and not a science. There is no one definitive way to get what you want every time. When it comes to negotiation, it takes preparation and practice. Whether it is taking the time to understand more about the tactics or researching more about the company you are negotiating with, Mr. Sugameli will assure you that by putting in the work, you will become a successful negotiator.