5 Steps To Powerful Negotiating - Feature Article

An intricate look into the mind of the powerful negotiator. Learn how to prepare yourself before you hit the negotiating table so you walk in with all the knowledge necessary to gain the edge over your opponent. Psychology that you can take to the negotiating table, and how you can use these tools to achieve your internet goals.

Negotiating, a key point of reference for any entrepreneur online and offline. In today's society negotiating successfully is a prerequisite to success for any business. Today we are going to cover what I believe to be the 5 single most important aspects about preparing for negotiations.

1) Put yourself in the shoes of the other party.

Take the time to investigate the other parties point of view, this will help you to evaluate some of their objectives and may help to give you an advantage at the negotiating table. Role playing is the best way to gain an understanding of the other parties position, objectives and interests. This will also give you a chance to see yourself the way the other party will perceive you and your proposals.

2) Preparation of assembly. Finding out about the other party.

The key to successful negotiating is all in your prep work. You must take the time to find out as much as you can about the opposing party. Look closely into things like, how's business for them at this time? Are they struggling because of a new shop opening just across the road thats taking their business? What is their reason for selling? These same tecniques discussed here today can help you to no end with business proposals like joint venture marketing online as an example.

You may have to play detective for many reasons. The first thing any detective looks for in an investigation is a motive. This rule also applies for the effective art of negotiation. Although the situations will always change depending on what area you work in but the principles always stays the same. Negotiating is a contact point where two parties meet, both wanting to fulfil their pre-determined objectives in their chosen area of interest.

Some probing questions one might ask in order to identify the interests and objectives of the other party.

a) What would I wish to obtain from this situation if I were in the other parties shoes?

b) What would be some logical reasoning for wanting to obtain this?

c) What would be the best tactic for me to proceed on to obtain these objectives?

d) When would the best timimg be for me to setup the negotiation?

e) In which manner would be most beneficial for me to attack these negotiations? There are 3 main sources of negotiation. Conflict/Competitive Negotiations, Co-operative Negotiations, Problem Solving Negotiations.

Preparation is everything. If you want to succeed in becoming a top negotiator, if you walk into a negotiating situation with no points of reference, no bottom line decided upon, no strategy in which to implement and present your plan, then you will get literally torn to pieces by an experienced negotiator. Find out what arguments they may put to you, and have rebuttals prepared in advance. Learn to improvise as surprise is the name of the game, it seldomly runs according to plan when you meet stiff competition.

3) Different techniques of negotiation.

a) Conflict/Competitive Negotiations.

One would opt for the competitive, confrontational approach when you are above all other things, primarily out to achieve your own objectives with a moderately blatant disregard for what your opponent wants to achieve out of the negotiations. This is how most people view the negotiation process, but interestingly enough this method appears to be less popular than you think. In my personal opinion is not always the most productive approach. There are many variables that we cannot discuss indepth today that would influence ones decision to choose one negotiating technique over another, for instance how much power you believe you hold in the negotiation process at hand or the power of the company or individual you are dealing with.

b) Co-operative Negotiations.

In this negotiation strategy the emphasis is placed more on the common interests that both parties hold in the area of discussion, trying to achieve a mutually beneficial gain where as both parties in one form or another reach a point where they both achieve the main objectives they set out for. But always rememeber prudence is the name of the game, you will always find those who will seek to play your game of co-operation in order to take advantage of the situation. Be careful don't give away too much to soon.

c) Problem Solving Negotiations.

In this type senario the aim of the game is that both parties view the negotiation as a problem that can only be solved by both parties pulling the chain in order to seek a satisfactory resolution. Your guiding principle should be that of which both parties leave the table with more riches or benfits in some way, shape or form.

4) Preparing Your Strategy.

Such is life, not everything is entirely predictable and therefore things don't always turn out how we want them to, however this doesn't mean that we will never obtain our objectives and satisfy our interests. It's just simply impossible to eliminate the unpredictable entirely. You should always enter any situation of a negotiating sort, for that matter any life situation, with the attitude that you don't have all the information at hand. Strategic planning consists precisely of trying to predict the unpredictable!

I define the word strategy from tactic in the way that "tactics are what you do when you have something to do, strategy is what you do when you don't". Generally strategy is the big picture plan, tactics are the tools you use to help achieve this plan. I am going to briefly cover just a few critical tactics that you can manipulate to achieve an overall powerful strategy that's to your advantage.

a) Time - Are you going try to arrange the negotiations at a time that is convenient to you, or both parties?

b) Duration - Is there a time limit? Or is it unlimited? The party which feels less hurried can have a strategic advantage.

c) Forcing The Pace - The more power you feel you have the more you can inforce the pace of conversations. Will it be rapid, slow, thoughtful? Will you drag things out, steadily increase the pace as time goes on, slow things down toward the end in order to gain a few more minor concessions?

d) Location - Will you arrange for negotiations to take place at a location that sets a certain mood or feeling in the opposing parties mind? Or will you choose for a location that is more conducive to an atmosphere of co-operation?

This gives you just a few points to think about. You will soon realise that the smallest of things can result in some major concessions for you, or your company, by setting the tone with a good stable strategy. Keep your mind sharp and learn to improvise.

5) Cool as Ice.

Negotiation with experienced parties will get you in some tight corners, they will exploit your every crevice. Remember that they will have done there homework on you and your company just like you have on them. Many negotiators will force you into a position of unease in an attempt to crack you, make you say something you shouldn't have, like revealing details of your bottom line and all because they got you flustered. Above all remain calm, be patient and do all you can to avoid giving into stress or pressures exerted upon you. By doing this the other party will quickly realize that you can not be manipulated easily and they will get nowhere by pursuing this kind of tactic, once this happens it can change the whole event into your court, you can then take control and work to gain some objectives with this new found power on your side.