Power Tools: Five Facts of Negotiations
- You are negotiating all the time.
- The thing you want is controlled by someone else.
- Every negotiation involves information, power and time.
- You need to be able to relate to the other party. Personality types can make it or break it.
- Usually the responses you encounter will be predictable.
Top Ten of Negotiating:
- Know your subject.
- Listen and do not interrupt.
- Have a written agenda in front of you.
- Have great eye contact and smile.
- Learn to love silence.
- Learn to paraphrase.
- Set your goals and any limits.
- Speak clearly and slow down your speech.
- Take your emotions out of the meeting.
- Listen, listen, listen.
Six Things that Make a Professional Negotiator:
- Always be willing to create a win-win situation.
- Realize that both sides want to win and feel pressure to do so.
- You must want to learn the skills of negotiating.
- To become proficient, you must understand negotiating skills.
- Practice what you have learned at any new skill, including negotiating.
- Never feel intimidated. You have the same rights or feelings as the other party involved.
Six Necessary Ingredients in Negotiating:
- Always learn what the other party wants and let the other party know your wants.
- Get is much information as possible on the other party and their needs and wants.
- Always reach for a compromise. If you get too much, the other party always loses.
- Try not to narrow your negotiations down to a single issue.
- Price is not always the most important factor.
- Different people or different personalities want different things.
In a Truly Successful Negotiation, Both Parties Feel That:
- They have won or feel a sense of accomplishment.
- The other side was sincere and cared.
- The other party was fair in its negotiations.
- They would have no problem negotiating again in the future.
- The other side was honest and will keep its promise.
The Negotiator's Checklist:
- Never say yes to the first offer. You can always return to it later.
- Always maintain a walk-away position. You cannot appear too eager to say yes.
- Try not to be the first to name a price. If possible, let the other party do so.
- If you have to name a price, try to keep it low but flexible.
- Make a big deal out of every concession you make, and then try for a counter-concession.
- Most concessions are made in the last part of negotiation. Do details upfront.
- Do not try to split the difference. Instead try to get the other party to make the offer to you.
- If you have a deadline, do not let the other party know; it could work against you.
- The person under the greater time pressure generally has the greater chance of losing.
- Try to be the party who writes the contract or puts the proposal in writing.
- Never negotiate on the phone, because you cannot read body language or emotions.
- Make a constant effort to watch the other party's body language. It maintains focus.
Where to Sit in Negotiations:
- When you are negotiating with only one person, sit where both of you can watch each other.
- If you have two people on your team, try to sit apart so you can work independently.
- If you have more people than the other party, sit together for a feeling of power.
- If the other party has more people, seat your team between them to reduce their power.
- If possible, sit at the end of the table, which is perceived as a position of power.
Qualities of a Great Negotiator: