Don’t Just Wait for an Offer Before Negotiating, Research the Other Side
You may have heard that during negotiations it is better to let the other party make the first offer. However, if you just find out what they want at the table, you may be at a disadvantage. Instead, research first.
As Business Blog Inc. points out, you can often get an idea of what the other party wants in most business transactions, even before you even get to the table. For example, it’s not hard to understand that your employer doesn’t want to pay you too much money. You can find out from colleagues or even online that your company may be paying someone for your position. If you can get this information even before you sit down to the negotiating table, you don’t have to wait for the first offer, since you already know what they want:
While I agree that this is preferable in many cases, you may not always have the opportunity to get the other side to make the first offer. The leverage of the parties is usually highly dependent on who is submitting the first offer or claim. Don’t fight it too hard for fear it might kill a potential deal altogether. Research the other side carefully to better understand the influence of the parties involved in any discussion.
As you research, you can also find information about the negotiating style, tactics, and propensity of the other party to close the deal. It may even lead you to want to make the first offer.
Of course, this can take a little trickery. Asking co-workers about how much they make can be a sensitive issue ( although it shouldn’t be ), but if you know someone who has successfully negotiated a raise, you can ask them what methods they used.