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Refers to your “best alternative to a negotiated agreement,” or the best outcome you can expect if you fail to reach agreement at the bargaining table with your counterpart.
An evaluation of your BATNA is critical if you are to establish the threshold at which you will reject an offer.
Effective negotiators determine their BATNAs before talks begin.
Carefully negotiate how you will negotiate in advance. Discussing procedural issues will clear the way for much more focused talks.
Don’t assume you’re all on the same page when it comes to determining when to meet, who should be present, what your agenda will be, and so on.
You and your counterpart may be more collaborative and likely to reach an agreement if you spend even just a few minutes trying to get to know each other.
If you’re negotiating over email, even a brief introductory phone call may make a difference. This is one of the most valuable negotiation skills to master.
Resist the common urge to think about what you’re going to say next while your counterpart is talking and listen carefully to her arguments, then paraphrase what you believe she said to check your understanding.
Acknowledge any difficult feelings, like frustration, behind the message. Not only are you likely to acquire valuable information, but the other party may mimic your exemplary listening skills.
Ask lots of questions that are likely to get helpful answers.
Avoid asking “yes or no” questions and leading questions, such as “Don’t you think that’s a great idea?” and craft neutral questions that encourage detailed responses, such as “Can you tell me about the challenges you’re facing this quarter?”
The first number mentioned in a negotiation, however arbitrary, exerts a powerful influence on the negotiation that follows.
You can avoid being the next victim of the anchoring bias by making the first offer (or offers) and trying to anchor talks in your preferred direction.
If your counterpart rejects all of them, ask him to tell you which one he liked best and why. Then work on your own to improve the offer, or try to brainstorm with the other party an option that pleases you both.
In essence, a bet about how future events will unfold.
Works best when negociations get stuck because of disagreements on how certain scenarios will play over time.
E. g.: if you doubt a contractor’s claims that he can finish your home renovation project in 3 months, propose a contingent contract that will penalize him for late completion and/or reward him for early completion.
Consider agreeing to meet at regular intervals throughout the life of the contract to check in and, if necessary, renegotiate.
In addition, adding a dispute-resolution clause that calls for the use of mediation or arbitration if a conflict arises can be a wise move.
SIMILAR ARTICLES & IDEAS:
They aim to reconcile a counterpart’s problems with the need to maintain the peace for society at large.
Using active-listening techniques, maintaining an open-minded approach, and building rapport to influence one’s counterpart are some of the skills used to resolve conflict and this skills can also be used on other kinds of 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 ...
A negotiation does not have to be a uni-dimensional, one-shot activity.
There are seven points to prepare yourself with:
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.
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....