Negotiations 101 - How To Prepare For A Negotiation?
Author: Dorothy Richardson
Preparation is the bedrock of negotiation success. You can't be overprepared for a negotiation. Whether or not you are concerned in a business or private negotiation, you may be totally prepared to gain your goals.
Heck, you've got to be nicely prepared just to grasp what your goals are. In any negotiation, you may prepare in 3 areas : Yourself The other person The market every one of these aspects deserves your attention. Pay plenty of attention to the 1st point because you're the most crucial person in the room. The second item will change as your talks change. The 3rd point merits your lifetime attention.
Prepare yourself : Preparing yourself for a negotiation means knowing yourself and what you need out of life. This step takes some reflection and some planning. With acceptable preparation, you make you more confident and your performance during a negotiation.
Know your weaknesses and strengths. For instance, are you a good listener, or do you disregard what other folks have to say? What's your life plan? In an ideal world, what will you be doing in 3 years? This long-range pondering your own life gives a context for each negotiation you have. After you make a vision of your future, create a plan that includes explicit steps to turn your vision into fact. Your talks are probably going to go astray if you do not prepare your private, long-range game plan before entering the negotiating room. You also need to prepare yourself for precise negotiating circumstances. The better you know your own wants the easier you can do this. As an example, if you are not a morning person, do not let somebody schedule a conference chat for 7:30 in the morning.
Make preparations for the other person : When you find out who you will be sitting across from at the negotiating table, research that person. Knowing about the other person will help you build concord, and you can walk into a room with the comfort and understanding of having some background on your contestant. One of the commonest examples where you need to do a little analysis on other individual is before a work interview.
Maybe , you and your interviewer share an analogous past experience. When you show that you know a fact or 2 about the other person from having completed your research, you sometimes score points with the interviewer. In a negotiation, showing that you have prepared for the other person also serves as an ice-breaker before getting down to the nitty-gritty. Besides these clear social benefits, information about the other person allows you to know what you are up against. Is this person reasonable? Is this person a bottom-line person, or is quality more crucial to him or her? Knowing what the other person values helps you emphasise that facet of your offer. It's also significant to figure out the person's level of authority.
If the person is going to be forced to get approval from people a few rungs up the organizational ladder, you know you'd better provide some written materials or your offer likely won't be repeated exactingly. Prepare about the market : Research your industry. It really is as simple as that.
A vehicle dealer knows best about autos. A chemist knows best about chemistry. A skill dealer knows best about art.
If you are going to barter in a world that isn't familiar to you, research it. Know the players, know whom to chat to, look at the language. Do whatever is required to be the smartest guy or gal in the room. You need to definitely have your private analysis of everything being bartered. You must also have a brilliant idea of the way in which the other party values whatever is being bartered. Don't be scared to raise questions. You may even ask such questions of the person you are bargaining with. Asking questions shows the other party that you are interested and prepared to learn. Be a repeated student of the industry or business in which you're employed. Folks who have got a spent an entire life with a company bring added price to the company just because of all of the info they have stored in their heads. The more that you know about the business environment generally and your company particularly, the better off you are.
About the Author
Dorothy Richardson is a school teacher in the Midwest.