Negotiation Guide
Successful negotiations require a clear sense of purpose, solid preparation, planning, and strategy.
Step-by-Step Negotiation Guide
1. Preparation (Before the Talk)
- Define your goals: What do you want to achieve? (e.g., higher pay, better terms, compromise).
- Know your limits (BATNA): Best Alternative to a Negotiated Agreement. What will you do if the negotiation fails?
- Research the other side: Understand their needs, pressures, and possible limits.
- Prioritize: Decide what’s non-negotiable vs. what you can trade off.
2. Opening the Conversation
- Set a positive tone: Be respectful, confident, and collaborative.
- State your position clearly: Present what you want and why (with evidence if possible).
- Anchor (if strategic): Sometimes it helps to suggest the first number/offer to set the reference point.
3. Listening & Understanding
- Ask questions: “What’s most important to you in this deal?”
- Listen actively: Repeat back key points to show you understand.
- Look for shared interests: Many negotiations have overlap where both sides can win.
4. Bargaining & Trade-Offs
- Be flexible: Offer alternatives (e.g., if not higher pay, maybe more vacation, bonuses, flexible hours).
- Use “if–then” statements: “If you can agree to X, then I can accept Y.”
- Don’t rush: Silence is a powerful tool — it can push the other side to make concessions.
5. Closing the Deal
- Summarize agreements: Repeat what’s been decided to avoid misunderstandings.
- Put it in writing: A verbal deal can fade; written confirmation makes it solid.
- End positively: Even if you don’t get everything, preserve the relationship for future negotiations.
6. After the Negotiation
- Review performance: What went well? What could improve?
- Follow through: Keep your promises to build trust for next time.
- Stay connected: Relationships often matter more than one deal.
Quick formula to remember:
Prepare → Open → Listen → Bargain → Close → Review
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