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Ask yourself these 7 questions when preparing for a negotiation

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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Ask yourself these 7 questions when preparing for a negotiation

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

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Key Ideas

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.

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?

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.

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.

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.

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.

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.

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.

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.

SIMILAR ARTICLES & IDEAS:

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....

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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BATNA

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 e...

Negotiate the process

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. 

Building rapport

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.

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Get clear on your negotiation goals

There are 3 key questions you should ask yourself:

  • What's the best possible outcome
  • What's your bottom line? This refers to the least...
Determine your core negotiation strategy (CNS)

It means finding the doorway that you want to enter the negotiation through. That could be the doorway of safety and liability or of value, the doorway of competition or of future business.

Understand your negotiation signature

That signature is the habitual way that you go about a negotiation. Understanding your default signature helps you know what you're working with.

Some people try to go in and beat the other person up on price. Other people are really intimidated, reticent, and afraid to ask for anything. 

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Distributive Negotiation

Refers to a competitive negotiation strategy which is used when the parties seek to distribute a fixed resource such as money, assets, etc. between themselves. 

It is also known a...

Integrative Negotiation

It implies a collaborative negotiation strategy, in which parties seek a win-win solution to settle the conflict.

In this process, the parties aims and goals are likely to be integrated in such a way that creates a combined value for both the parties and thus results in enlarging the pie. It stresses on reaching a mutually beneficial and acceptable outcome, keeping in mind the interest, needs, concerns, and preferences of the parties concerned.

Types of Negotiators
  • Integrative negotiators: create value between negotiating counterparts.
  • Distributive negotiators: maximize their claim to value in the negotiation at hand.
  • Cr...
Police Negotiation Techniques

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.

7 Essential Crisis Negotiation Skills Of a NYPD Negotiator
  • Communication: Opening communication avenues to your counterpart signals you are ready to listen and builds rapport between you.
  • Patience: Allowing your counterpart to air concerns and not jumping to conclusions or rushing towards a resolution also builds rapport.
  • Active Listening: An affective skill that helps to maintain an open dialogue and build trust between counterparts also doubling as information gathering.
  • Respect: Makes your counterpart feel understood and that their concerns are being heard and addressed.
  • Calm: its display helps the counterpart feel there is an alternative way to taking harsh measures.
  • Self-Awareness: It's establishing a relationship with the counterpart while keeping communications strategic and purposeful.
  • Adaptability: Is to adapt and respond to changing circumstances in a way that further negotiation goals.
4 basic negotiation styles

...depending on different social motives:

  • Individualists seek to maximize their own outcomes with little regard for their counterparts’ outcomes. .
  • Cooperators stri...
Indaba

Is used to simplify discussions between many parties and is designed to allow every party to voice its opinion, but still arrive at a consensus quickly. 

Inste...

A Good Negotiator

Negotiating doesn't mean arguing, being stubborn or creating a scene. The best negotiators are empathetic and collaborative, pursuing a mutually fulfilling solution. A good negotiator ca...

A Personal Touch

A job negotiation is preferable in person or on the phone, as compared to the impersonal and cold feel of the email.

Talking on the phone provides you with an opportunity to build a connection so that the recruiter understands you and your motivations, while you have a better grip on their motivations.

If the job negotiation is on email only, be direct and honest. Email lets you strategize your words carefully.

Have An Alternative

Having an alternative, a second job offer with you makes your negotiation game stronger, as the employer knows that you can simply walk away. Having the offer from a prestigious company also strengthens your perceived market value.

Having a BATNA (Best Alternative To a Negotiated Agreement) provides you with confidence, based on how strong the employer perceives it as well as how you perceive it.

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5 Steps for Effective Crisis Negotiation
  • Prepare for crisis: Good crisis-management plans predict and set mechanisms to deal with and minimize the effects of disputes.
  • Establish ground...
Characteristics of Crisis Negotiation
  • High stakes, including communication towards conflict resolution.
  • Unpredictable.
  • Heightened negative emotions, often leading to conflict escalation.
  • Multiple parties and teams are involved.