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| Home > Fact Sheet - Successful Negoti Fact Sheet - Successful Negotiation In business, or even just in life, we are often faced with situations in which we need to negotiate an outcome. Whether this is battling to get your child out of the bath, closing an international deal or settling a new supply contract, negotiation skills are useful on a daily basis. Thoughtful preparation is crucial where the negotiation is complex in nature and a lot is at stake. You need to be mindful of the style you employ in your negotiations. For example, will you play hardball or take a softly, softly approach? Hardball is fine in some circumstances, for example buying a house, where no continued relationship with the parties is necessary. However, taking this approach with clients is a sure fire way to lose them!
· Outcome: what are your objectives in this process? What do you think the other person wants? · Trades: What can you offer the other party? What does the other person have that you want? · Plan B: what are your alternatives if you can’t reach agreement on your major objective?
· Relationships: is there a power imbalance in the relationship? Could the relationship be damaged by the wrong
approach? What would be impact of this? · Expected outcomes: what outcome will the parties be expecting from this negotiation? What has happened in the past? · Consequences: what are the consequences for you of winning or losing this negotiation? What are the consequences for
the other person?
· Possible solutions: how might you be able to satisfy both parties’ objectives (a win-win negotiation)? |
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