Swagger! 6 Keys to Negotiating Success

From determining staff pay levels to sourcing supplies and selling to customers, every entrepreneur should excel at negotiating. If you can't cut the best deals possible for your business, you're leaving a dangerous trail for capable competitors to follow—and overtake you.

But don't think of negotiating as a way to get an advantage over the people you're dealing with. The best deals are those that are fair to both sides, so they can be can be renewed again and again.

Arthur Wylie is a U.S. financial advisor and entrepreneur who has just written a book called Only the Crazy and Fearless Win BIG! Whether you're negotiating for a railway or a rental car, he offers six keys to masterful deal-making. How many can you master?

• Key #1: Know your value. While you can’t know every possible result that the other party would want, be sure to understand what your offer or position can do for them. This means researching all the ways that your idea, product and/or service can help the other party, whether it is solve a problem, increase earning potential, or simply make life more convenient and enjoyable. If your argument lacks a key benefit, figure out how to adapt it so that it better serves the needs of your target. This may take time, effort and research, but it will convince the other party that you understand and appreciate their needs.

• Key #2: Personal relations. Demonstrate to the other party your personality, your capabilities and your values. Both sides must feel the synergy that will result from your deal-making. Deals close more quickly and easily when people know and trust you, either directly or by referral.

• Key #3: Get buy-in for your vision. It’s not always easy to get other people on board with your ideas. A critical step in artful deal-making is to convey your vision of the outcome in such a way that other parties will seek the same outcome. The WIIFM factor (“What’s in it for me?”) must be made crystal clear to the other party as you present your position.

• Key #4: Be humble. To broker a deal, you have to be humble but firm—which can be a tricky combination to pull off. Always respect the positions of the other people involved in your negotiations. Express genuine respect for the other parties and what they have accomplished. At the same time, you have to show confidence in your abilities and showcase—with quantifiable examples—that you put 100% effort into everything you do.

• Key #5: Finesse. No matter how large or small they are, reaching deals requires finesse—the combination of poise and diplomacy where skill and natural ability meet. This means being able to explore all the angles, including  the weird and wacky. Finesse comes into play when both parties like each other and want to make a deal. For some people, finesse comes naturally; if that’s not you, work on developing your charm and creativity.

• Key #6: Swagger. If finesse is about problem solving and outside-the-box thinking, then swagger is about being commanding and authoritative without being arrogant or pretentious. Swagger is a spirited aura of success and fearlessness that you radiate without ever compromising your integrity or general likability. Hit the right notes with your swagger, says Wylie, and you’ll walk away with what you want.

For more on Wylie, visit http://arthurwylie.com, or follow @ArthurWylie on Twitter.