"SUCCESS MANTRA" # 113

TOPIC: NEGOTIATION SKILLS

FUNDAMENTALS OF NEGOTIATION

FOUR ESSENTIAL RULES

1. AIM HIGH

Aim for the best deal. You can always trade down but it is more difficult to trade up.

Now in your mind divide the variables into:

·       

• Musts: what you feel you must take from the table if the deal is going to be acceptable to you
• Ideals: what you prefer to achieve to make the ‘ideal’ deal
• Loss leaders: those things you are prepared to trade in order to close a deal (even if you would prefer to keep them)

Be realistic. Negotiating is about trading concessions, so you MUST have items in all three categories.

2. GET THE OTHER PERSON'S ‘SHOPPING LIST’

The more you know about the other side the better you will do.

 How much can you intelligently infer or anticipate about the views of the other

Side?

 To find out and keep both sides of the discussion in mind, use:

•  Preparation
•  Prior knowledge
• Experience
• Questioning skills

3. KEEP THE WHOLE PACKAGE IN MIND

• Do not underestimate the complexity of negotiating.
• It is the interrelationship between all the elements that makes negotiation work. You need to keep all the elements in mind all the time.

4. KEEP SEARCHING FOR VARIABLES

•  Remain flexible.
•  Do not wear your plan or initial intentions like a strait-jacket.
•  Everything is negotiable and a few more things besides. Good negotiators are  quick on their feet.

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