Negotiations can often feel like a test, and this guide is your cheat sheet. While thorough preparation and practice are the keys to success, a little reminder under pressure can be beneficial. This article provides some of the most potent tips we've discovered for successful negotiation. Keep them handy and review them before your next negotiation.
Your power in a negotiation lies in your walk-away alternatives. Ensure that you have real, viable options that don't require an agreement. This will empower you to support your interests and instill a confident attitude that compels others to listen to and meet your interests. They'll realize that they have to if they intend to reach an agreement.
Avoid disclosing your walk-away alternatives. When you remind others of the options you have should they not satisfactorily meet your needs, your commitment to negotiation falls into question, and the environment becomes hostile. This diverts attention away from underlying needs, making the climate less conducive to the development of creative options.
Knowing what options the other parties have if no agreement is reached will help you construct options that are favorable relative to their specific negotiation. In other words, you'll be able to construct an agreement that improves on their alternatives without giving away too much.
Any offer is valid provided you can present objective criteria that prove each term of the offer fills to some extent the underlying needs of all parties.
When you encounter tactics intended to intimidate, rush, draw out discussions, or otherwise derail the focus from underlying needs and mutual gain, patiently react to the problem at hand. Use personal attacks as a signal that it's time to reestablish everyone's commitment to a mutually beneficial outcome.
Remember that all the needs presented are not of equal importance. Focus on building an understanding of which needs are most likely to influence the outcome. Strive to create options that satisfy those interests.
As a listener, you are gathering information that can help you figure out which of the other side's needs must be met for an agreement to be considered acceptable. Listening gives you the advantage. The better your understanding, the more flexibility and creativity you'll have as you create options.
Make sure you know whether or not you are negotiating with someone empowered to make the final decision. If you aren't, make sure you present options in such a way that they meet the perceived needs of the negotiator and the other members of their organization.
Look for patterns in the types of concessions made by the other parties, and be attentive to the messages sent by your concessions. Small concessions give the impression that the bottom line is not far off, while large concessions indicate that a lot more can still be conceded before the bottom line is reached.
When an apparent impasse has been reached, splitting the difference is widely regarded as the ultimate fair solution. However, this suggestion is often used to induce guilt, which can lead to concessions on your part. Additionally, splitting the difference rarely results in an outcome that surpasses anyone's expectations, and it does not ensure that the interests of all parties are satisfied.
