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How to negotiate during business deals

Updated on March 16, 2011
 

1.

Be clear, in your own mind, about exactly what you're after.

Do your homework, so that you are fully prepared to discuss every aspect and respond to every question and comment.

Be persistent. Don't expect to "win" The first time. Your first job is just to start The other person thinking.

Make friends with The person with whom you are bargaining. Put your bargain in terms of his or her needs, advantages, and benefits.

Keep your sense of humor.

2

a ).Separate The Relationship with The People from The Substance of The Deal

Be hard on The deal, soft on The people

See The deal from inside their shoes

Make your proposal consistent with their value

b). Focus on Shared Values and Interests, but not on The Positions Each Side Takes

Values define The deal

Each side has multiple interests - be clear on yours, discover theirs

c). In Stuck, Brainstorm Options for Mutual Benefit

Be creative, think outside The box ,Identify shared interest

d). Use Objective Criteria for Decision-Making

Strike a deal based on principle, not pressure

Agree on fair standards and procedures

Frame issues as a collaborative quest

3

Set The tone early, offset any bad rumors, be candid.

Utilize "human factors" and be open about feelings and motives: this will enhance trust.

Avoid presenting too many issues, highlight The strongest ones.

Avoid deadlines, lessening The chance for needless concessions.

Summarize frequently: this enhances understanding.

Present arguments calmly, without personalization, and make sure they are logically supported.

Avoid use of personal opinions in arguments.

Avoid ultimatums and other forms of non-negotiable demands.

Admit, when appropriate, The validity of The other party's arguments.

negotiation is an art with skill
negotiation is an art with skill

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