People often think that extroverts are better at negotiating because the person with the loudest and most forceful voice usually controls the room. But introverts have unique skills that can help them do well in negotiations. In fact, some of the world’s richest people, like Bill Gates and Warren Buffett, say that their success is due to the fact that they are introverts. Because of this, this article looks at seven important strengths that introverts bring to the table when they negotiate. It also uses cases from real life to show how these traits can help you be a better negotiator.
1- Deep Listening: The Secret Power of an Introverted Negotiator
How Introverts Use Silence to Win:
A lot of the time, introverts are great at deep listening, which helps them get important information during talks. They can understand the other person’s wants and weaknesses if they listen more and talk less.
Example:
Berkshire Hathaway, which is owned by Warren Buffett, bought BNSF Railway for $44 billion in 2010. He was able to get one of his biggest deals because he paid attention and gathered information.
Sources:
Benzinga – Article : Warren Buffett Was Said To Overpay For BNSF Railway, Here’s Why He’s Having The Last Laugh
2- Empathy: A Game-Changing Tool for an Introverted Negotiator
Why Having Empathy Can Help an Introvert Do Well:
Empathy allows introverts to understand the emotions and motivations of the other party. As a result, this can help them find mutually beneficial solutions. Introverts tend to pick up on subtle cues, which helps them anticipate objections.
Example:
In the 1990s, Howard Schultz, CEO of Starbucks, used empathy to convince Italian coffeehouse owners to let him bring the café culture to the United States. Instead of pushing aggressively, Schultz empathized with their love for coffee culture. Ultimately, he convinced them that his idea would promote, not replace, the culture. Starbucks is now worth over $100 billion.
Sources:
Business 2 Community – Article : Starbucks Net Worth: Value, Dividends & Revenue of Seattle Stalwart
3- Preparation and Research: The Quiet Strength of Knowledge
How an Introverted Negotiator Gets Ready to Win:
Introverts are known for their thorough preparation before entering negotiations. This gives them an advantage, as they come armed with data and insights. Thus, they can navigate discussions with ease.
Example:
Satya Nadella, the introverted CEO of Microsoft, spent months getting ready to buy LinkedIn for $26.2 billion. He looked into LinkedIn’s place in the market, its competitors, and the future of business networking. Because of this, Microsoft was able to make one of the biggest tech purchases ever.
Sources:
Miadria – Article : How LinkedIn fits Microsoft’s shifting business model
4- Thoughtful Responses: A Strategic Edge for the Introverted Negotiator
Why an Introverted Negotiator Gains by Taking His Time:
Introverts take their time before responding. This makes them appear more thoughtful and strategic. Consequently, this creates a sense of confidence and authority, allowing them to choose their words carefully.
Example:
Bill Gates is known for pausing for a long time when he talks about business or in interviews. In fact, Gates often took a break to gather his thoughts during the early talks with IBM. This made the IBM team change their minds and give out more information.
Sources:
Docusign – Article : The clever clause that made Microsoft
5- Analytical Thinking: How an Introverted Negotiator Finds Hidden Chances
How an Introverted Negotiator Analyzes Situations:
You can really figure out what’s going on with an introvert. They can find important details and get rid of information that isn’t important. In this way, they can see chances that other people might miss.
Example:
Warren Buffett paid close attention to everything during the 2008 financial crisis. He saw a chance when other people saw bad things happening. When everyone else was scared, he made deals with Goldman Sachs and Bank of America and put billions of dollars into the business. This let him get things for very little money.
Sources:
Goldman Sachs – Article : Berkshire Hathaway Invests US$5 Billion in Goldman Sachs Amid Global Financial Crisis
6- Patience and Persistence: Winning the Long Game
Why Patience is a Strength for an Introverted Negotiator:
Introverts are usually patient and don’t give up. They like to take their time. They don’t make quick decisions because of this, which often leads to better deals.
Example:
Jeff Bezos, who is introverted took his time when Amazon tried to buy Whole Foods. He let the deal develop on its own. Bezos finally finished the deal for $13.7 billion, which allowed Amazon to get into the grocery business.
Sources:
Whole Foods Market – Article : Amazon to Acquire Whole Foods Market
7- Build Trust with Win-Win Conclusions
How an Introverted Negotiator Secures Win-Win Deals:
Introverts often want things to work out for everyone. This can help them do business together for a long time. Focusing on what’s best for both sides helps introverts build trust and loyalty with their negotiation partners.
Example:
Reed Hastings, CEO of Netflix, worked to get streaming rights from Disney in a way that was good for both sides. Netflix was able to use Disney’s huge library, and Disney was able to spread its material to more people. Together, they helped Netflix become a huge video service.
Sources:
CBS News – Article : CBS News: Netflix has more than 200 million users, but Disney Plus is becoming a bigger threat.
Conclusion
Introverts have unique skills that help them do well in talks. They can hold their own in business conversations and often do better than their more outgoing coworkers. Introverts can bargain well if they listen deeply, show empathy, carefully plan their answers, think critically, are patient, and focus on finding solutions that work for everyone. Don’t forget that it’s not about who yells the loudest, but who listens and plans the best.
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