The art of negotiation
Published August 17th, 2007 in Consulting, Family, Marketing & PromotionEvery transaction has a myriad of details that are part of the deal. Many times people seem to get bogged down in small details or get derailed by sensitive issues and this stalls the process. Each and every detail will have to be addressed, but you will be surprised at how far you can get by keeping your goal in mind and not getting bogged down by those details.
During the process, some things that were once considered important will become irrelevant; and others that weren’t an issue suddenly become a deal breaker. This is normal and does not have to mean the end of any negotiation. It just means that you need to change your tactics so that each party walks away from the negotiation table happy with the results.
Following are six tips that will help speed up the process of any negotiation by transcending the details.
Create a list. Every project or transaction has a beginning, middle and end. It is important to layout all the details that need to be checked off in order to finish. Write a list of everything you could hope to get out of the deal.
Walking into any negotiation without these lists is like going to an exam without studying. Having a list gives you a path to follow so you don’t forget anything.
Rate your list. Give your list a rating system based on importance and simplicity to get through each detail. By identifying your main goals, you will have a clear understanding of what needs to be accomplished.
Realize that you might have to concede on some points in order to gain others. Keep in mind that the importance of each item on the list will change as the negotiations progress. Start small. Don’t jump into the negotiations with the biggest item on your list. You will only end up overwhelming the other side and will actually decrease the likelihood of getting what you want. Start with a few of the easy things on your list. This is a great way to break the ice and create a common ground for moving forward. As you reach agreement on smaller issues, each subsequent discussion will go a little easier.
Know when to bring up the big issues. Don’t overwhelm the other parties with a list of a million small details. Save some of them for the end of the negotiations. If you do too many small issues first, by the time you get to the larger, more important items on your list, the other party will feel like they have already given too much and will be much less likely to want to help you achieve your large goals.
Don’t just focus on yourself. As you work through the process, you will need to continually listen to the other side. This will provide an opportunity for you to find out their big issues. If you don’t pinpoint and address their main goals, you will constantly run into roadblocks when trying to accomplish your own list of goals.
By creating an environment of give and take, each side will be much more willing to listen to the others goals and needs.
Come back to some of the smaller issues. After you wrap up the larger issues, you can go back to the smaller, unresolved issues on your list. After reaching an agreement on each party’s main goal, the smaller objectives won’t present a problem. Source: Marc Freeman, author of “Renegotiating with Integrity: It’s Not Business, It’s Personal,” has worked with companies across the globe, helping to renegotiate hundreds of millions of dollars in contracts.
During the process, some things that were once considered important will become irrelevant; and others that weren’t an issue suddenly become a deal breaker. This is normal and does not have to mean the end of any negotiation. It just means that you need to change your tactics so that each party walks away from the negotiation table happy with the results.
Following are six tips that will help speed up the process of any negotiation by transcending the details.
Create a list. Every project or transaction has a beginning, middle and end. It is important to layout all the details that need to be checked off in order to finish. Write a list of everything you could hope to get out of the deal.
Walking into any negotiation without these lists is like going to an exam without studying. Having a list gives you a path to follow so you don’t forget anything.
Rate your list. Give your list a rating system based on importance and simplicity to get through each detail. By identifying your main goals, you will have a clear understanding of what needs to be accomplished.
Realize that you might have to concede on some points in order to gain others. Keep in mind that the importance of each item on the list will change as the negotiations progress. Start small. Don’t jump into the negotiations with the biggest item on your list. You will only end up overwhelming the other side and will actually decrease the likelihood of getting what you want. Start with a few of the easy things on your list. This is a great way to break the ice and create a common ground for moving forward. As you reach agreement on smaller issues, each subsequent discussion will go a little easier.
Know when to bring up the big issues. Don’t overwhelm the other parties with a list of a million small details. Save some of them for the end of the negotiations. If you do too many small issues first, by the time you get to the larger, more important items on your list, the other party will feel like they have already given too much and will be much less likely to want to help you achieve your large goals.
Don’t just focus on yourself. As you work through the process, you will need to continually listen to the other side. This will provide an opportunity for you to find out their big issues. If you don’t pinpoint and address their main goals, you will constantly run into roadblocks when trying to accomplish your own list of goals.
By creating an environment of give and take, each side will be much more willing to listen to the others goals and needs.
Come back to some of the smaller issues. After you wrap up the larger issues, you can go back to the smaller, unresolved issues on your list. After reaching an agreement on each party’s main goal, the smaller objectives won’t present a problem. Source: Marc Freeman, author of “Renegotiating with Integrity: It’s Not Business, It’s Personal,” has worked with companies across the globe, helping to renegotiate hundreds of millions of dollars in contracts.
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