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August 2, 2019

Tips for Better Negotiations

Some people approach the idea of negotiating with dread; however, the ability to negotiate confidently and convincingly is a key leadership skill. If you want to get what you want and need for business success, you have to become good at negotiating.

  1. Be clear about what you want—your bottom-line. Evaluate all you might gain if the negotiation succeeds, and what you could lose if it doesn’t.
  2. Be prepared with more than one acceptable outcome that will meet your goals. The more alternatives you have, the more flexibility you have, and the greater likelihood you will succeed.
  3. Perform a risk assessment. Don’t assume possible losses; do some objective research and be as realistic as possible.
  4. Set an intention for a win-win outcome. When you go into a negotiation intending to find an outcome that is acceptable to all parties, you are more likely to find one.
  5. Stay focused on the goal you want to achieve and know what you are willing to give up to get it. Refuse to go below your bottom-line.
  6. Identify where you have common ground. Gaining agreement early in the negotiation creates a feeling of good will and camaraderie that can make the process go smoother.
  7. Clearly state the outcome, preferably in writing, and get all parties to sign off.

A successful negotiation leaves everyone feeling satisfied that they got what they wanted. The more you prepare, the more successful you will be.

 

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