Negotiation is the process of settling disputes based on different viewpoints and goals. If you’re a naturally negotiator in your own right or you have to work at it knowing the basics will help you to build and claim value and manage fairness concerns. be successful in achieving a result.
Before entering into a negotiation you must have clear and concise goals for the desired outcomes you want to achieve, and the data and research needed to help you achieve the goals. This allows you to anticipate potential counter arguments and create strategies for success.
It is also essential to be aware of the other parties’ interests, including their needs, desires and worries in the hopes of anticipating potential objections. It is also important to be able express your own preferences and the motives for them. You will appear more credible and convincing.
Lastly, you should be open, within reason to compromise. It’s not a good decision to take a stoic position at the beginning of negotiations since it could be perceived as a lacklustre attitude towards reaching an agreement. Instead it is better to offer to compromise on something you value but only when it can be compatible with the other’s interest.
Having your walk away point (your most effective alternative to a negotiated agreement, or BATNA) in mind is a crucial aspect of preparation for negotiations. This will assist you in decide when to stop the discussion. If the other party is stuck in their positions then you shouldn’t negotiate with the hope of negotiating an agreement.
