January 8, 2024

No Time For Planning?

No matter what negotiating mode you're in, or what techniques you and your team may be using, you will substantially increase your chances of achieving long lasting, Both-Win agreements with just one prime ingredient.

That prime ingredient is Planning…

Internet resources provide today's negotiators instant access to a wealth of information regarding industries, competitive products, price-points, supply issues, and information on the organizations and individuals involved in the negotiation. You need to do your homework before entering a negotiation.

Failure to provide adequate time to gather information will impact your ability to successfully plan for your next negotiation, and may limit your ability to develop creative agreements.

However, as important as it is, in today's working environment we don't always have the opportunity to use our time for planning…

Here are 13 tips for negotiators who have little or no time (a very bad idea) for negotiation planning:

• Before talks begin, jot down your wants in order of priority. Distinguish between "must have" and "would like to have" wants.
• Figure out what your opening offer and target will be on each issue to be discussed.
• Determine what you will say after the other party says "no." There will always be "nos."
• Make a list of things you will ask for if you must make concessions.
• Choose the best time and place to meet.
• Write down ideas that may help create a "Both-Win" opportunities. Think of assets you or your organization have, and then match these up with needs you think the other party or organization has.
• Build in "lack of authority" and "time to think" defenses to avoid being pushed into decisions that are premature.
• Think about bringing an associate who can help you to listen better, ask good questions, and say the right things.
• Ask the question, "What are some factors that might limit their negotiating power?"
• Plan how to support your positions and what types of backup you might need.
• Ask yourself, "What do they want that's under the 'iceberg'?" Things they want or need, but aren't asking for.
• Ask yourself, "What's our next option if these talks fail?"
• Decide if there is something you should ask for now that you'll wish for after the negotiation is over.

With a plan in place, even if it's made with little time, effective negotiators are better prepared to gain important concessions from the other party and, when needed, better prepared to grant only those concessions that make sense to their side. During this period of give-and-take, areas of needs and wants that are outside the original issues of the negotiation will emerge. That's where you can find the better deal for both parties and work out more successful Both-Win agreements.