What makes a successful negotiation

negotiateAhmedKhan

First:

DO Be prepared to walk away.
DON’T Show a lack of care and concern.

There’s power in willingness to walk away. Too many negotiations fail because the party has latched on to the belief that they have got to make the deal work. This is always fatal.

Second:

DO Invite constructive solutions.
DON’T Give away answers too readily.

Inviting solutions can open up space in which the other party reveals more about their position. Rookie negotiators are eager to offer solutions and close. Experienced negotiators know to pose a question, then wait for facts to emerge.

Third:

DO Stick to a negotiating strategy.
DON’T Get stuck to a negotiating position.

There are financial, legal and people implications of a decision to a business.  Do the homework. Discuss scenarios and evaluate trade-offs.  Evolve a strategy and then stick to it.

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