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Top 10 Negotiation Skills
Contingent contract
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.
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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 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.
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.
Listen actively
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 good questions
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?”
Search for smart tradeoffs
Try to identify issues that your counterpart cares deeply about that you value less. Then propose making a concession on that issue in exchange for a concession from her on an issue you value highly.
Being aware of the anchoring bias
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.
Present multiple equivalent offers simultaneously
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.
Contingent contract
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.
Plan for the implementation stage
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:
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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.
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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 ...
The 7 Elements
A negotiation does not have to be a uni-dimensional, one-shot activity.
There are seven points to prepare yourself with:
- What do people want?
- What is my Plan B?
- Creating Value using shared interests.
- What's relevant and what's persuasive.
- One-shot or multiple rounds?
- The best way to communicate.
- 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.
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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...
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Basic negotiation skills
- Asking good question: Good negotiators seem to ask a lot of questions and are very concerned about understanding exactly what it is you are trying to achieve from the negotiation.
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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....
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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.
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Negotiating without being a pushover
Do:
- Frame the negotiations as a problem-solving challenge.
- Take the time to make small talk. It’ll build connections you can leverage later on.
- Stress t...
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Negotiation
... is a key life skill, an inherently interpersonal activity that requires a good understanding of human psyche, and it is vital to your success.
Negotiator perform 2 cognitive tasks:
- Judgement: Evaluate the content of the available options for its fairness.
- Choice: Determine which available option is preferred.
Use a Red Herring
Instead of making one single offer, try offering 3 possible scenarios:
- Something that works for you but can be very expensive for the other party. A win-lose.
- The red herring. Something that is a lose-lose for both parties. An option through which no one wins.
- Something that is a middle ground and a win-win for both.
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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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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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