When it comes to negotiations, confidence plays a critical role in determining the outcome. It is a well-known fact that having confidence can positively influence negotiations. However, confidence can be of two types, explicit and implicit, and it's essential to understand the difference between the two and how they can affect the negotiation process.
Explicit confidence is what you say about yourself. It's the
verbal representation of how you view yourself, your abilities, and what you
can bring to the table. Explicit confidence is crucial when negotiating, as it
can establish credibility, create a strong first impression, and even help in gaining concessions from the other party. However, it is important to ensure that your
explicit confidence is not perceived as overconfidence or arrogance, as it can
backfire and damage the negotiation process.
let's say you're negotiating a new job offer. During the interview process, you
highlight your relevant experience and education, and express how confident you
are in your abilities to deliver quality work. You make a strong first offer
and provide valid reasons for why you believe it's a fair offer. In this case,
your explicit confidence helps to establish credibility and creates a strong
impression, which can positively influence the negotiation process.
On the other hand, if your explicit confidence comes across as arrogant or overconfident, it can negatively impact negotiations. For example, if you make an unreasonably high first offer, it could come across as overconfident, and the other party may become less likely to make concessions. Similarly, if you boast about your abilities or come across as dismissive of the other party's concerns, it could lead to a breakdown in negotiations.
2. Implicit confidence
Implicit confidence, on the other hand, is how you perceive yourself and is measured by your automatic responses to connotations about yourself. It is a subconscious form of confidence that affects your behaviour and decision-making during negotiations. If you have high implicit confidence, you will stay calm and focused during negotiations, seek alternative solutions that benefit both parties, and resist pressure to make concessions that don't align with your goals. Implicit confidence is vital as it can help you remain composed and focused during negotiations, even in challenging situations.
For example, let's say you're negotiating a business partnership with another company. The negotiations have hit a roadblock, and both parties are struggling to come to a mutually beneficial agreement. In this situation, having high implicit confidence can help you remain calm and focused, and seek alternative solutions that benefit both parties. This approach can help you break the deadlock and move the negotiations forward.
However, if you're too shy to express your implicit confidence, you may settle for less than you deserve or avoid negotiating altogether. This can lead to missed opportunities and less favourable outcomes. It is crucial to strike a balance between explicit and implicit confidence to project confidence in your abilities and know your worth and options.
So, how can you strike a balance between explicit and implicit confidence in negotiations?
Here are some tips:
1. Do your research:
Before entering into negotiations, research the other party, their needs, and their priorities. This will help you understand their perspective and tailor your approach accordingly.
When expressing your explicit confidence, be clear and concise in your language. Avoid making unrealistic demands or over-promising, as this can damage credibility.
When expressing your explicit confidence, use "I" statements instead of "you" statements. For example, say, "I believe my experience and qualifications make me an excellent fit for this position," instead of, "You should hire me because I have excellent qualifications."
Active listening involves fully focusing on the other party and understanding their perspective without interrupting or interjecting. This approach can help you gain valuable insights into the other party's concerns and priorities, which can inform your negotiating strategy.
While it's important to know your worth and what you're willing to compromise on, it's also essential to be flexible and open to alternative solutions. This approach can help to break deadlock and find common ground with the other party.
While being flexible is important, it's also essential to know your walk-away point. This is the point at which you're willing to walk away from the negotiation if your needs are not being met. Knowing your walk-away point can help you make more informed and confident decisions during negotiations.
In conclusion, understanding the difference between explicit and implicit confidence and how they can impact negotiations is essential for achieving favourable outcomes.
While explicit confidence can help to establish credibility and create a strong first impression, it's essential to strike a balance and avoid coming across as overconfident or arrogant. Implicit confidence is equally important, as it can help you remain calm and focused during negotiations, seek alternative solutions that benefit both parties, and resist pressure to make concessions that don't align with your goals.
By striking a balance between explicit and implicit confidence, you can project confidence in your abilities, know your worth and options, and negotiate effectively.