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.


More Resources

Unable to open RSS Feed $XMLfilename with error HTTP ERROR: 404, exiting

More Negotiation Information:

Related Articles

How To Make An Inflexible Bureaucrat See You As A Person
Inflexible Bureaucrats Are Characterized by:1. Cares little about your happiness in life2.
The Six Rs for Changing MInds and Overcoming Resistance
This article borrows from Howard Gardner's book, "Changing Minds" (2004). In order to get people in conflict to cooperate or collaborate sufficiently to settle or resolve their differences, and perhaps achieve reconciliation, it is necessary that they change their minds.
Making the Deal: Women as Negotiators
Negotiating is no game. It is not for the weak or the fragile.
A One Stop Financial Solution
Amy Wright, 34, was extatic when her realtor showed her the three bedroom townhome overlooking the lushious golf course. It was exactly the home she was looking for.
Dont Be Afraid Of Silence
In any conversation with two or more people, there is a tendency to want to talk all the time to fill any awkward silences or gaps that appear in a conversation.However, if you think of the conversations that you have with your closest friends or family, you will notice that there isn't the same need to fill these gaps, as silences between you are comfortable.
Negotiate to Your Advantage
The hardest and most important part of any negotiation is knowing when to walk away.Few things are sweeter than a successful negotiation session where both parties leave the table with a winning solution.
Communicating Across Time Horizons
There was a time in my life when I sold life insurance. Well, to be frank, I tried to sell life insurance.
Guidelines for Ambassador Appointments
Ambassadors to other countries are a vital part of international relations. It is not uncommon for an ambassador to be the face or image of one country to another.
Ask for More - You May Get More
If you are involved with sales, how do you feel when you hear phrases such as, "Can you do anything about your price?" or, "You'll have to do better than that." and variations on these? Does a cloud or two cross the sun? You start to think, "here we go again?.
Just Ask!
Ask and you shall receive & knock and it shall be opened &send an email and see what happens.As a student of personal finance you are probably familiar with the advice to negotiate with your credit card companies to get a lower interest rate.
30 Tips for Keeping Meeting Expenses to a Minimum
Money makes the world go 'round. And when it comes to meeting planning, money can probably get you whatever you want.
Avoiding and Accomodating in Negotiation
The avoiding approach to negotiating is characterized by losing, leaving, and withdrawing. No commitments are made, and behavior is impersonal.
Embarrassed To Discuss Your Prices? Seven Common Reasons We Cant Talk About Them
Last week, a wonderfully-skilled electrician installed a new light fixture for us. He was competent, courteous and efficient.
Win-Win Power Negotiating
Let's talk about win-win negotiating. Instead of trying to dominate the other person and trick him into doing things he wouldn't normally do, I believe that you should work with the other person to work out your problems and develop a solution with which both of you can win.
The Most Powerful Persuasion Skill Youll Ever Learn
Criteria ElicitationThis is without a doubt the most important persuasion skill that you can learn. If you'll learn to apply this to every situation in which you find yourself you'll be amazed at the positive results! Many of the hypnotic skills I'll be sharing with you have a parallel in old sales training techniques.
Barter and Its Benefits
What is Barter?Barter involves 2 parties. Each party wants to trade with each other and instead of exchanging cash for products or services, the exchange is carried out with products or services that each possesses.
Negotiations: The Art, Science, & Sport of Online Deals
Negotiations can seem as complex as physics, and in fact, people go to college to study the science of negotiating just as they would the laws of nature. At the same time, negotiation is like an ancient art form, some sort of Zen mental jujitsu.
Where to FIND the BEST Employees --
Obviously, you might logically say, "that is good!" You would most certainly be on track feeling good about everyone in your area having a job. Getting everyone working and being more self-sufficient is our logical goal.
Power Pricing - Getting the Right Price for Your Products and Services
There's an old joke about the New York City blackout. Power was out everywhere, and the electric company couldn't figure out what was wrong or how to fix it.
Are You Scaring Away Potential Customers?
When you are trying to make a sale and ask someone to fill out a credit application and new account form, do your potential customers turn around and run to the competition?Author Michelle Dunn, in her new book "Become the Squeaky Wheel," explains how you can avoid scaring customers away and keep them coming back. First, find out what your competition is doing, do they have a credit policy? If they do, what is included? What does their credit application look like? How many forms do new customers have to fill out? Do they have good paying customers? Look online, a lot of business website will have their credit applications available online.