“Ten Keys To Successful Negotiation”
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Hardly a day passes that we are not involved in some type of negotiation.
This negotiation may be as simple as attempting to convince a friend tosee the movie we choose or as complicated as negotiating a percentageof a business offering or mediating a labor dispute.
At any rate, effectivenegotiation is an art...one that requires preparation and practice in orderto be successful.
Consider these ten tips for preparing for negotiationand improve your odds for a win-win resolution.
1. Know what you REALLY want.
Many people enter negotiation only to find they did not have a cleardesired outcome defined in their own mind. Write down your desiredoutcome as concisely as possible and use this outcome as the centerpoint of your preparation.
2. Know your opposition.
Learn as much as possible about who you are negotiating with, what theywant, their strengths and weaknesses, and their likes and dislikes.
3. Consider the impact of timing and method of negotiation. Whenever possible, negotiate face to face. It is easier to say NO overthe telephone and in writing. Initiate the negotiation process so thatyou have the advantage of preparation and timing.
4. Prepare your presentation...point by point.
Outline your presentation carefully. Place emphasis on benefits to theother party.
5. Anticipate reactions, objections and responses.
If possible, brainstorm with others who have had similar negotiationsto get a jump on what to expect. For each objection or reaction, listpositive responses, alternatives and examples that counteract the negatives.
6. Structure your presentation to ensure agreement on one or two points at the beginning of the negotiation.
For example, "I think we can agree right away that we have a problem andthat we both/all want to resolve it." Initial agreement on minor issuesor points early on in the negotiation process sets a positive atmospherefor agreement in later, more significant stages.
7. Determine paybacks and consequences for each party in the negotiation.
A clear understanding of paybacks and consequences makes it easier todetermine when and how to make concessions and when and how to stick toyour demands/requests.
8. Prepare options rather than ultimatums.
An ultimatum should be used only as a last resort when you are sure youcan back it up and the other party knows you can back it up. Even then,in virtually every negotiation there are options and alternatives thatreduce defensiveness and lead to positive resolution for all parties.
9. Get comfortable with silence.
Many negotiators feel compelled to jump in with arguments and commentseach time there is a puase in the interaction. Practice withholdingcomments and responses. Silence can be a very powerful negotiation tool.
10. Close all negotiations by clearly outlining agreement.
When agreement or conclusions have been reached and you are ready to endyour negotiation, review the agreement that has been reached. Then, endyour negotiation on a positive note...commending those involved andemphasizing the progress made.
Article by Meir Liraz, president of BizMove.com (http://www.bizmove.com), a free informational web site for entrepreneurs and small business owners that provides free guides and tips for starting, growing and managing a small business
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