How to Get the Most Out of Any Negotiation?

                                         

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Negotiation is always the most nail-biting process in any business and some of the major impacts (positive and negative) can be the result of any good or badly handled negotiations. A negotiator or a negotiating team in any firm is viewed as a result-driven individual or group.

Negotiations are therefore meant to win in prima facie. However, to attain long term collaborations and results some sacrifices must be made. All stakeholders in any business (internal or external) ultimately expect the results to benefit them or their firm and attain maximum take away.

Theoretically, negotiations are broadly classified into two types namely the integrated negotiation and the distributive negotiations. These are popularly known as deal negotiation and dispute negotiation in the corporate world.

Deal negotiation is a negotiation where all the parties involved in the negotiating process can get almost equal benefits and generally it is said that these create an overall value. Whereas, in dispute negotiation, the benefit of one will be the loss of the other.

Though from a broader sense you could feel that deal negotiation is superior to dispute negotiation, there is no such superiority/inferiority among these classifications. This is due to the inseparability of dispute or distributive negotiation from any business environment.

In a micro level, an individual saying "No" can also be considered as a distributive negotiation but it is never said to be a bad result of negotiation. Some circumstances mandatory-ly require one person to win and the other to lose the negotiation to produce a better outcome.

In another angle, deal negotiation has varied types of resources and one party may find beneficial with a specific resource which the other party might not. So, they look for something else which benefits them, and a more friendly approach is followed throughout the process.

In the dispute negotiation, the resources are common for both the parties and therefore they try more dominant methods like manipulation, information withholding, etc.for gaining the benefits because it will impact a direct loss if the other win.

As negotiation is inevitable in any relationships be it professional or personal, distributive or integrated, it is extremely important to learn handling negotiations and turn it effective.

Every negotiation can be an experience and always consider the intangible resources of learning's you get from any negotiations which may help you in the future negotiations. It can also guide you to become an effective negotiator in general.

Here are 4 tips for you to improve your negotiating skills:

1. Set Your Objectives Clear

Never attend a negotiation session without having set your tangible goals and estimated outputs. Make a list of all the possible benefits/resources that you could gain from the negotiation and then prioritize those which you essentially required to gain as well as those you may desire to gain.

Having a clear goal of what you need to achieve will guide you to focus more on spontaneous decisions. However, spontaneous discussions and decisions should never contradict your objectives but should only be a complement to your defined goals.

2. Prepare Well in Advance

Apart from just setting your objectives and goals, in-depth preparation on the matter of negotiation must be home worked. For instance, if you are representing your firm for the negotiation, identify the strategic importance for the company from this negotiation.

Another, preparation area is to understand your give-away limit in the negotiation. Identify the threshold of your sacrifices well ahead of the negotiation so that you will know when to stop your negotiation. Keep this list as realistic as possible so that the outcomes would support your goals.

3. Listen More

Like any other meetings, negotiation discussion also requires this art of active listening to get the most out of it and generate good results.Never let the other person feel that you are defending them but try to listen to them carefully and make them feel that they are important.

Showing interest to their purpose and objectives can bring a friendly environment and it is easy to discuss the matter in any such environment. Active listening will also help you give a broader picture of the resources that you may potentially gain and to know about the unspoken benefits.

4. Stay Calm

In the book “How to win friends & influence people”, Dale Carnegie quoted that the best possible way to win an argument is to avoid it.Most often in a negotiation, we might probe to get discomfort or might lose our temper.But getting angry does not help any of the parties in wining.

Staying calm and composed throughout the discussion helps to emphasize our needs and create long term relationships with optimum results. Never take the comments from the discussion personal and react to it.Remember that if you stay calm the other person too is in your control.

 

Written by – Arun S.

Edited by - Adrija Saha



How to Get the Most Out of Any Negotiation? How to Get the Most Out of Any Negotiation? Reviewed by Adrija Saha on June 21, 2020 Rating: 5

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