Negotiation is basically an interactive communication that takes place between persons, for making a deal and coming to a mutual agreement at the end. In today’s fast paced world we are negotiating with some one or other everyday. Most people are at sea when it comes to Negotiation Skills. These skills are not inborn and anyone can achieve with training and practice.
A good negotiator is not someone who pulls off deals by working miracles or hypnotizing his opponents into nodding their heads to all his proposals. He is simply better in his demonstrations because he follows certain rules that the novice negotiator does not. Once we learn the rules and understand their consequences we can master negotiation skills ourselves. Basically negotiation is a three phased communication.
Pre bargaining Phase includes the following:
• Information. Get all details about the issue, from the other side.
• Evaluate your leverage and that of the other sides. Try to raise our leverage while, subtly lowering the leverage of the other side.
• Analyze the issue and try to establish a good rapport with the opponents , if You cant get a mediator
• What are your expectations and goals, and what can you expect from the other side, co-operation or conflict?
• Costs . Analyze your budget , take lawyers help , see where your leverage can get the best and yet a cost effective deal.
• Plan. Set our plan rolling.
Bargaining Phase of the negotiation skills will include:
• Planning the time, place and how you will negotiate the Logistics
• What is the best offer and what sort of tactics you will employ
• What are the concessions you can give and how can you effectively resolve a problem if any
Closure Phase will be:
• Prepare the final agreement and documentation,
• Emotionally close all underling issues and under currents
• Implementation of the deal
Remember the deal is not over until implemented fully.
Those with minimal experience should remember that attitude is important to enhance your Negotiation Skills. Everything is negotiable. Be quick verbally , try to enhance your memory and remember all you can about the deal , learn to handle stress.
Compromise is ubiquitous .
Whether you are settling or buying, be fair on the numbers. Always adopt a fair attitude to closing the number gap.
Polish your communication skills and let go of aggressive and intimidating attitude while learning to be assertive at the same time.
Co-operate , but don’t give up, because co –operation is better than competition if you want to build up your negotiation skills.
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