Powerful negotiation

Good day...

What comes first to your mind when you hear the word 'negotiation'? Are you thinking of making the other party agree with your goals and objectives, or, imagining a win-win situation when each party achieve part of their objectives? In my perspective, the latter one is the true objective of a negotiation. However, I can not agree more to the new paradigm being well elaborated in the book '3rd Alternative' authored by Stephen R. Covey, that we need to first try to achieve an alternative, when everyone wins by coming up to a 3rd alternative of the topic being discussed.

Although I do not consider myself as an expert in negotiation, in this posting I will try to share some tips on running a successful negotiation based on my personal experience:

Picture credit: Meditations

1. Be clear on the objective you try to achieve. Never enters into a negotiation without a clear mindset of the outcome you are trying to come out with. Be firm with your perspective toward the issue you are going to negotiate.

2. Understand the perspective of your counter party. With this in mind, you will lessen the tendency to force your own goal without considering your negotiation partner's perspective towards the issue.

3. Do your homework by first doing the necessary research towards the topic you are going to negotiate. Getting as much data, insight and feedback from the relevant stakeholders as possible is necessary to adjust your view point toward the issue. It is also best if you can get the support from someone superior to your negotiation partner prior to the discussion. In this case you can be more confident of your own stand point.

4. Be positive. Always enters a negotiation with a viewpoint to achieve a common benefit. A win-win situation, or a middle ground, when everyone gets a positive outcome of the negotiation. Avoid the situation when you enter a negotiation to win as much as possible while leaving your counter party at a win-loose situation.

5. In many cases, negotiation is not finished in one meeting. In this situation, you can always continue the discussion informally outside of a formal meeting, such as during lunch, coffee, or other more relaxing occassions. Again, an informally close relationship with your negotiation partner will lead to a higher success.

Well, that's what I can share about negotiation for now. I might share more tips as I grow more expertise in this domain.

Edwin