Negotiating Tips, Negotiation Strategies February 10, 2011

A roadmap to a win-win agreement

H. Stanley Judd wrote:

“A good plan is like a road map: it shows the final destination and usually the best way to get there.”

An effective negotiation is one that results in a win-win agreement. The agreement is your destination, and to get there, you follow a plan, or a “roadmap,” that is, a set of strategies and tactics that are designed to get you to the best possible outcome.

There are four main steps to take before entering ANY negotiation:

Step 1: Define goals and objectives

Step 2: Research and educate yourself about the market, the competition and the other party

Step 3: Define strategies

Step 4: Define tactics

We have discussed many of these strategies and tactics here on Negotiation Space. To gain deeper understanding we recommend reading Dr. Chester L. Karrass’ books. If you are interested in a practical learning, you can find an Effective Negotiation seminar near you.

Geoffrey James provides “Five Rules for Reaching a Win-Win Agreement” in an article on BNet.com. His rules, which he geared toward salespeople, are the following:

1. Focus on the problem at hand rather than the people. The goal here is to preserve relationships with the other party.
2. Seek to understand the reasons behind any bargaining position (also, look for hidden agenda and personal motivators).
3. Brainstorm alternative agreements and options
4. Use objective criteria
5. Know what your best alternatives to the initial negotiation objectives are.

What is on your roadmap for a successful negotiation? Please share in the comments.