Best Negotiation Practices

Best Negotiation Practices

1. 1. Be prepared

   • Preparation = advantages
   • Good preparation is understanding one’s own goals and interests
   • Understanding the other party's communication and needs

2. 2. Diagnose the fundamental structure of negotiation

   • Choose strategies and tactics according to the negotiation type
   • Negotiations will consist of a blend of integrative and distributive elements

3. 3. Identify and work the BATNA

   • "Option to be chosen if an agreement is not reached"
   • Improve BATNA in the long term
   • No good BATNA = Unsatisfying settlement

4. 4. Be willing to walk

   • GOAL = Achieve a valued outcome
   • Keep in mind your target during the negotiation

5. 5. Master Paradox

   • BEST WAY TO MANAGE A PARADOX IS TO CREATE BALANCE

6. 6. Remember the intangibles

   • Intangibles affect negotiations in a negative way
   • Intangible = win / loose / looking tough
   • Influenced by behaviour

7. 10. Learn from the experience

   • “the best negotiators take a moment to analyze each negotiation after it has concluded”
   • What? and Why? questions

8. 7. Manage coalitions

   • Coalitions against you
   • Coalitions that support you
   • Loose

9. 8. Reputation

   • “Important to build easy to break”
   • Important to keep your word and to be honest

10. 9. Rationality and fairness are relative

    • “Negotiators are often in the position to collectively define what is right or fair as a part of the negotiation process”