Intro to Negotiation

The object is to build a mutually beneficial relationship.  Power can be out balanced one way or the other depending on the personalities involved but not benefit if the relationship is to be a success.

 

Tools for successful negotiation include:

  • View the other person as a counterpart or associate and not as an opponent and treat them as such
  • Plan your expected outcome and prioritized acceptable alternates in advance
  • Reach out to the person with the correct level of authority to be able to carry out the outcome.
  • Know your counterpart’s style/temperament and tailor your approach
  • Plan how to respond to your counterpart’s expected position
  • Speak to the advantages of your intended goal & be prepared to address any expected objections – know the product or service
  • Remember that in business there must be perceived gain for your counterpart, short term or long term
  • Be prepared to offer concessions or alternate business opportunities
  • Retain control of the negotiation by making neutral, factual statements, and using questions carefully
  • Watch your wording, tone, posture – humor helps & be pleasant
  • Plan for your own potential emotional reactions or pitfalls
  • Know when to stop – enough is enough – old sales adage to stop when you get to ‘yes’

 

Negotiation theory:

B – Best

A – Alternative

T – To

N – Negotiated

A – Agreement

>>what each side could end up with if they walk away

 

Control or Influence:

You only have control over yourself, not any system or other people.  But if you understand the motivations of others and know how the system operates any individual can have influence with the right negotiation.

 

Daniel C. Molden, professor of psychology at Northwestern says, “The more that people’s feelings of self-worth are wrapped up in a poor decision they’ve made, the greater their impulse will be to justify it in some way.”

 

If you are prepared to structure the solution to accommodate any resistance, you will have a greater chance of success.

 

“If you need something from somebody, always give that person a way to hand it to you.” ~Sue Monk Kidd

 

© 2012 Practical Business | Reasonable Expectations

 

Advertisements

Leave a comment

Filed under Personal Growth, Work Life

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s