Negotiating Tips, Negotiation Strategies, Business Negotiation October 13, 2010

Negotiation Preparation: How to Plan Your Negotiation Strategy

Business negotiations should always start with a plan. Planning and preparation will help lead you to success. Before you choose any negotiation tactics or specifics, you must start with your negotiation strategy. Planning your negotiation strategy should always come before selecting negotiating tactics. Your negotiation strategy serves as the foundation for the approach and techniques that you use to achieve your goals. According to Dr. Chester L. Karrass, there are nine key building blocks of negotiation strategy:

  1. Power sources and limits
  2. Product and market strategy
  3. both-win negotiation strategy
  4. Short- and long-term relationships
  5. Setting reachable targets
  6. Selecting the right negotiating team
  7. Motivation strategy
  8. Information gathering strategy
  9. Decision-making strategy

Your overall negotiation strategy is a product of an exploration of the areas listed above. You will want to tackle each area individually. Dr. Karrass’ book “In Business As In Life—You Don’t Get What You Deserve, You Get What You Negotiate,” provides useful worksheets to help clarify each of these strategies. Following are a few questions to help you get started in setting your negotiation targets:

  • What are the issues?
  • What are the “must,” “give” and “straw” issues?
  • What is our position on each issue?
  • What are our opening offers for each issue?
  • What is our guess as to what the other party will settle for and how can we test that?

When you work through each section, you will achieve real clarity on what your negotiation strategy will look like. You will be well prepared to select your tactics, and reach an agreement. What helps you plan your negotiation strategy?

THE PROGRAM WAS GREAT! MY SEMINAR LEADER AND THE STRUCTURE OF THE COURSE KEPT ME CONSTANTLY STIMULATED. I NOW AM BETTER PREPARED TO GO INTO AN IMPORTANT NEGOTIATION MEETING AND STAY IN CONTROL, WHILE FINISHING THE MEETING SATISFIED.

Deanna D.
CASE MANAGER at THE JACKSON LABORATORY

IF YOU HAVE THE TRAINING BUDGET AND TWO DAYS TO SPARE, YOU'LL STRUGGLE TO FIND A PROGRAM MORE FAR-REACHING, ON-POINT, AND INSTANTLY IMPLEMENTABLE.

Jeff G.
BUSINESS DEVELOPMENT MANAGER at THE M.K. MORSE COMPANY

EXCELLENT COURSE, BRINGS MORE CONFIDENCE IN MY ABILITY TO NEGOTIATE. I THINK THIS COURSE IS A MUST FOR ALL EMPLOYEES WHO DEAL WITH CUSTOMERS.

John S.
CHIEF ENGINEERING MANAGER at EXXONMOBIL

THIS WAS VERY EFFECTIVE WITH A STRONG FOCUS ON BOTH-WIN NEGOTIATING.

Kathleen L.
SENIOR ANALYST at BLUE CROSS/BLUE SHIELD OF MICHIGAN

THE KARRASS CLASS WAS THE SINGLE BEST TRAINING CLASS/SEMINAR I HAVE EVER ATTENDED. EVERY TIME WE DID AN EXERCISE IT TAUGHT YOU WHAT TO DO DIFFERENTLY NEXT TIME. THANKS.

Kim C.
PROCUREMENT at AMERICAN EXPRESS

THIS PROGRAM HAS GREATLY INCREASED MY CONFIDENCE AND ABILITY TO NEGOTIATE FOR MYSELF AS WELL AS MY COMPANY.

LaDonna E.
SENIOR STRATEGIC BUYER at HALLMARK

THE NEGOTIATING CLASS WAS VERY INFORMATIVE. THE INSTRUCTOR PROVIDED AN INSPIRATIONAL MESSAGE THAT CAN BE APPLIED TO EVERYDAY LIFE.

Mary S.
INTERNATIONAL SOURCING at FMC TECHNOLOGIES

WE NEGOTIATE EVERY DAY OF OUR LIVES, BOTH PERSONALLY AND PROFESSIONALLY. THIS COURSE DEFINES THE PROCESS AND PROVIDES TECHNIQUES TO ACHIEVE SUCCESSFUL RESULTS.

Phillip H.
VICE PRESIDENT at GE

PRIOR TO THIS CLASS I FELT AS THOUGH I WAS GETTING EATEN ALIVE BY INTERNAL NEGOTIATIONS WITH SALES REPS. NOW I FEEL PREPARED TO CHALLENGE WHAT THEY ARE SAYING AND BET TO THEIR REAL NEEDS.

Steve Q.
PLANNER at HONEYWELL

MANY PEOPLE FAIL TO ACHIEVE THEIR POTENTIAL BECAUSE THEY DON’T SEE THE OPPORTUNITIES TO NEGOTIATE A WIN/WIN AGREEMENT WITH THEIR COLLEAGUES. THIS CLASS IS AN EYE OPENER TO THIS DYNAMIC..

Stuart B.
CONTRACTS MANAGER at HEWLETT-PACKARD
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