Negotiation
When we discuss negotiation skills, several facts become important to point out. First, you have to know that what you need is currently owned by someone else. That is why, you go through negotiations in a trial to get what you want from the other party but keep in mind that you have to be fair. Do not look for your own interests only look for the other party's interests too. That brings us to Second point which is , when you negotiate, you have to bear in mind that you should arrive to a solution that satisfies both you and the other party's interests. This is what we call a Win/Win solution in the negotiation. If the other party did not come out of the negotiation feeling satisfied, there is a great probability that they would sooner try to seek ways through which they can break the agreement. You might have noticed that this what happens in a lot of cases when negotiating political issues.
The Third point is assuming that the other party wants the same thing that you want and this a major fault. This is especially true when we think that money issue is the focus of any negotiation. If you give it a second thought, you would find that there is always a part of the offer that you are willing to give up to the other party that is not of a great value to you but it is to them and vise versa is correct. For example, you are a construction company and you are negotiating a deal to buy cement. You might think that your interest is to get the deal with the lowest price possible while theirs is ro sell toy with the highest price possible while theirs is to sell toy with the highest price.
A closer look to the situation and a closer study of the other party's offer might reveal that their interest is more concerned with getting you sign an agreement that allows them to be your only suppliers for cement for the next couple of years and in that case they are willing to be more flexible on the price terms.
Fourth, you have to realize that different people have different personalities and styles. Consequently, in a negotiation, you have to adapt to the other party's style. At same time, when you are negotiation do not focus on the other person, focus on the issue at hand. Do not get angry or frustrated by the the way he/she present his/her view point rather, focus on the content of the words. Your goal is not to win over the other person but it is to come out with a good deal, In other Words, do not take things personally, separate people from the problem. Focus on the problem and how to reach a compromise, rather than focusing on the person as someone who is having a counter point.
Fifth, do not go into a negotiation thinking that you are at the weaker side. You have to realize that the the issue you are negotiating is important to the other party too or they would not have bothered going into negotiation with you. If you kept in mind while negotiating that you are the weaker part of the game then you will lose the deal. Always remember. that the fact that the other party has agreed to come to the negotiation table with you means that they have an interest too. let us take an example: you have managed to arrange a meeting with one of the major well known companies to discuss your offer. You have always wanted to deal with that company and you know that if they become your client that would mean higher profit and even more prestige to your own company. You go into negotiation thinking that you are the weaker part. After all, this is a very well know company that a lot of companies would like to deal with and you would not want to lose such a major account. At the same time, the company is thinking that they want to negotiate your offer because you have a good reputation in the market and you always meet the quality standards. Yes, they may have many other offers but they think that your company can provide them with what they want or they would not have asked to negotiate with you. So, they too think that they do not want to lose the offer of your company. There s always something attractive in your offer that makes the other party interested in, negotiating it.
Last, Get as much information as you can before the negotiation and prepare carefully and study well the other party, you need and What their needs are and why these needs are essential for them. Think about the goals you want to reach out of the negotiation, what would probably be their objectives too. Search what alternatives you have and what are the things that you are willing to give up to the other party that are of value to them and vice versa. Prepare figures and facts that can support your point Think about the way you are going to present your offer and the strategy that you will use, Then, determine the point at which you are willing to quit or in other words the lowest accepted value that you can negotiate. This what we call "Best Alternative to a Negotiated Agreement" (BATNA)
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The Third point is assuming that the other party wants the same thing that you want and this a major fault. This is especially true when we think that money issue is the focus of any negotiation. If you give it a second thought, you would find that there is always a part of the offer that you are willing to give up to the other party that is not of a great value to you but it is to them and vise versa is correct. For example, you are a construction company and you are negotiating a deal to buy cement. You might think that your interest is to get the deal with the lowest price possible while theirs is ro sell toy with the highest price possible while theirs is to sell toy with the highest price.
A closer look to the situation and a closer study of the other party's offer might reveal that their interest is more concerned with getting you sign an agreement that allows them to be your only suppliers for cement for the next couple of years and in that case they are willing to be more flexible on the price terms.
Fourth, you have to realize that different people have different personalities and styles. Consequently, in a negotiation, you have to adapt to the other party's style. At same time, when you are negotiation do not focus on the other person, focus on the issue at hand. Do not get angry or frustrated by the the way he/she present his/her view point rather, focus on the content of the words. Your goal is not to win over the other person but it is to come out with a good deal, In other Words, do not take things personally, separate people from the problem. Focus on the problem and how to reach a compromise, rather than focusing on the person as someone who is having a counter point.
Fifth, do not go into a negotiation thinking that you are at the weaker side. You have to realize that the the issue you are negotiating is important to the other party too or they would not have bothered going into negotiation with you. If you kept in mind while negotiating that you are the weaker part of the game then you will lose the deal. Always remember. that the fact that the other party has agreed to come to the negotiation table with you means that they have an interest too. let us take an example: you have managed to arrange a meeting with one of the major well known companies to discuss your offer. You have always wanted to deal with that company and you know that if they become your client that would mean higher profit and even more prestige to your own company. You go into negotiation thinking that you are the weaker part. After all, this is a very well know company that a lot of companies would like to deal with and you would not want to lose such a major account. At the same time, the company is thinking that they want to negotiate your offer because you have a good reputation in the market and you always meet the quality standards. Yes, they may have many other offers but they think that your company can provide them with what they want or they would not have asked to negotiate with you. So, they too think that they do not want to lose the offer of your company. There s always something attractive in your offer that makes the other party interested in, negotiating it.
"ABC Skills"
