Negotiation is the process of settling disputes with different viewpoints and goals. Whether you are a natural negotiator by birth or you have to learn how knowing the basics will help you learn how to construct and assert value as well as manage fairness issues and be successful in achieving a result.
Before you engage in a negotiation you must have clear and concise goals defined for the outcomes you wish to achieve, along with the information and research required to back these goals. This will help you anticipate possible counter arguments and formulate strategic plans for success.
It is also important to know the other party’ interests, including their needs, desires and concerns in order to anticipating potential objections. In addition, you should be able to articulate clearly your own personal interests and the motivations for these interests. You will appear more convincing and credible.
Lastly, you should be able, within reason to compromise. Making a rigid position at the start of negotiations is usually not the best strategy, since this could be interpreted as a lack of inclination to reach an agreement. Instead, offer to digitaldatastorage.blog/3-unexpected-advantages-of-using-a-digital-data-room/ compromise on something you appreciate, but only if the other party is in the same boat.
Another crucial aspect of preparing for negotiations is to determine your walk-away point (your BATNA or best alternative to a deal that you negotiate). This will allow you to decide when to end the discussion. If the other side is stuck in their positions and you don’t want to continue to discuss with the hopes of negotiating an agreement.