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Ask yourself these 7 questions when preparing for a negotiation

https://www.fastcompany.com/90222394/7-questions-to-ask-yourself-when-preparing-for-a-negotiation

fastcompany.com

Ask yourself these 7 questions when preparing for a negotiation
"Like it or not, you are a negotiator...everyone negotiates something every day," writes Roger Fisher, William Ury, and Bruce Patton in their book on negotiating, Getting to Yes: Negotiating Agreement Without Giving In. It's true.

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Negotiation

Negotiation

Whether it is a high-stakes deal, the price of a used car, or a family issue, we all are bargaining and getting into negotiations.

Negotiation is 90 % planning, along with being educated and prepared.

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The 7 Elements

The 7 Elements

A negotiation does not have to be a uni-dimensional, one-shot activity.

There are seven points to prepare yourself with:

  1. What do people want?
  2. What is my Plan B?
  3. Creating Value using shared interests.
  4. What's relevant and what's persuasive.
  5. One-shot or multiple rounds?
  6. The best way to communicate.
  7. What are my commitments?

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What People Want

What People Want

Knowing the other party's needs, wants and desires, getting to know what drives their negotiation, is crucial information in the planning stage.

The more we understand the interests of the other negotiating party, the better we can help them get what they want while taking care of our interests.

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Plan B

Plan B

There can be scenarios where you will not be able to reach a deal, so it is advisable to always have an alternative, a Plan B, or a back-up with you in any negotiation.

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Creating value

Creating value

Once we can find out what the shared interests are, we can find many ways to address certain demands of the negotiating party which may not be a hassle for us.

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Being Fair

Being Fair

We need to know what's the most relevant and persuasive criteria.

A negotiation will break down swiftly if there is no fairness in the proposals of either party.

Having a legitimate argument in the tactics used for influencing is always a good thing for a successful deal.

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Short Term and Long Term Game

Short Term and Long Term Game

Sometimes negotiation is not about the immediate goal of the discussion but about the larger picture.

It may be a multi-round war and not just a battle. You may choose to win now but you may risk losing something bigger in the future.

In this scenario, we can make a different choice in the immediate deal so that we eventually win.

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Good Communication

Good Communication

In any negotiation, good communication is key.

Common misunderstandings and wrong assumptions are the biggest reasons for a break down of a negotiation.

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Our Commitments

Our Commitments

Managing to articulate what we can commit to the deal leads to the best and most ideal outcomes in a negotiation.

Having a planned commitment beforehand eliminates surprises and further negotiations that may arise otherwise.

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Successful Negotiation

The most successful negotiators don't entertain dirty tricks in negotiation but instead strive to reach agreements that are satisfactory to both parties.

But if you find yourself on...

Jet Lag

Used on negotiators who travel long distances: to start meetings while the negotiator's concentration is impeded due to jet lag or fatigue. Jet lag seriously impairs judgement. 

Tip for the negotiator: Travel early and leave time for recuperation before meeting the other party. Where you suspect your hosts like to be hospitable, keep news of your early arrival quiet. 

It's different over here

A dirty trick often used against people visiting other cultures.

The approach of "but we always do it this way over here" can be difficult to counter if you're not prepared for it.

Tip for the negotiator: If you suspect this approach in advance, have with you a local expert who knows the customs. 

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Win-Win Negotiation

It involves working to get the best deal possible for yourself while also working to ensure that your counterpart is satisfied.

The “win-win” negotiators seem to have the most success....

Career negotiation and opportunities for advancement

Career negotiation and opportunities for advancement

Professionals often think of career negotiation as bargaining over an offer package.

Although reaching agreement on pay and benefits is necessary, it is vital to think more broadly ...

Career negotiations fall into three categories

  • Asking negotiations. You propose something that's standard for someone in your role or at your level.
  • Bending negotiations. You request a personal exception or unusual arrangement, for example, remote work setup or a promotion where you lack conventional qualifications.
  • Shaping negotiations. You propose ways to play a role in changing your organizational environment or creating a new initiative.

Organizations may be very open to shaping negotiations during challenging or fast-changing times,

Job negotiation: what, how, and with whom to negotiate

People often walk blind into a potential negotiation. They lack information on what is negotiable. It is vital to reduce vagueness and ensure that you get a fair opportunity.

Write down all the questions you have.

  • What is potentially negotiable?
  • How should I negotiate?
  • Who will be my counterparts, and what do they care about?

Find answers from talent professionals, a media search, or contact a professional on LinkedIn who can tell you more about the hiring manager.