Negotiation Tips

Negotiation tips

Manoj Thelakkat

• 1) SHUT UP and Listen :
• 2) Be willing to Walk Away.
• 3) Shift the Focus Light.
• 4) Do Not take it Personally.
• 5) Do Your Homework.

What are the 7 rules of negotiation?

7 principles for effective negotiations

• Know what are you trying to accomplish.
• Develop a game plan before negotiations start. ...
• Study and understand your counterpart. ...
• Work towards a win-win. ...
• Avoid negotiating with yourself. ...
• React strongly to an untrustworthy party at the negotiating table.

What are the 10 rules of negotiation?

10 Rules for Successful Negotiation

• Don't view it as a win/lose scenario.
• It's a collaborative discussion.
• Don't make any assumptions.
• Show up prepared.
• Know the different levers you can pull.
• Get everything important in writing.
• Sometimes you have to give to get.
• Be 100% transparent, clear, and honest.

What are the 4 C's of negotiation?

Cross-Cultural Business Negotiations identifies the four Cs of negotiation: common interest, conflicting interest, compromise, and conditions.

What are 5 common mistakes people make during negotiations?

5 Common Negotiation Mistakes

• Poor planning.
• Unethical behavior. ...
• Accepting a bad deal or forgoing the win-win. ...
• Accepting a deal too quickly. ...
• Dismissing cultural differences.

What are the 6 basic skills of negotiating?

Negotiation Skills

• Communication. To achieve your ideal outcome at the bargaining table, it's essential to clearly communicate what you're hoping to walk away with and where your boundaries lie.
• Emotional Intelligence. Emotions play a role in negotiation, for better or worse. ...
• Planning. ...
• Value Creation. ...
• Strategy. ...
• Reflection.

What are the golden rules of successful negotiations?

These golden rules: Never Sell; Build Trust; Come from a Position of Strength; and Know When to Walk Away should allow you as a seller to avoid negotiating as much as possible and win.

What is the 80/20 rule in negotiation?

Most people succeed or fail in a negotiation based on how well-prepared they are (or are not!). We adhere to the 80/20 rule – 80% of negotiation is preparation and 20% is the actual negotiation with the other party.

What are 3 negotiation techniques?

Three Negotiation Strategies—and When to Use …

• Integrative Negotiation.
• Distributive Negotiation.
• Mixed Motive Negotiation.

What are the 9 negotiation strategies?

9 science-backed tactics for winning a negotiation

• Know your context.
• Make an aggressive offer. ...
• Before you go in, know the lowest amount you'd accept. ...
• Mirror the other person's behavior. ...
• Emphasize your potential. ...
• Don't demand a single number. ...
• Tell them something about yourself. ...
• Keep all your options on the table.

What makes a weak negotiator?

Poor negotiators have difficulty resisting anchoring, which means they're negotiating based on a starting point that may or may not be reasonable.

What is the number one rule for negotiating?

The first Golden Rule is essential to success in any negotiation: Information Is Power—So Get It! It's critical to ask questions and get as much relevant information as you can throughout the negotiation process. You need sufficient information to set aggressive, realistic goals and to evaluate the other side's goals.

What to avoid when negotiating?

Here are some negotiation blunders to avoid:

• Don't make assumptions.
• Don't rush. ...
• Don't take anything personally. ...
• Don't accept a bad deal. ...
• Don't over-negotiate. ...
• Be the first to make an offer. ...
• Provide set terms instead of price ranges. ...
• Use words wisely while negotiating.

What makes a strong negotiator?

One of the key traits of a great negotiator is emotional intelligence. A good negotiator should know from the get-go what the value of the bottom line expected on each side is. The negotiation should be focused on value and benefit, and obstacles should be considered beforehand so you can set yourself up for success.

What are the qualities of a good negotiator?

Characteristics of a good negotiator

• open mind.
• charm.
• well thought out.
• articulate.
• experience.
• perserverence.
• patience.
• assertiveness.

What makes a good negotiation?

Start by settling the easiest points, establishing common ground and mutual trust, and using positive and inclusive terms such as “our points of agreement,” “our shared vision,” “our interests.” Discuss important issues face to face, and try to negotiate only with the decisionmaker.

What is the #1 trait of a good negotiator?

Emotional intelligence tops the list. Although there are hundreds of books about how to negotiate more effectively, the advice they offer is often difficult to apply, for three reasons.

What is the best negotiation style?

Most research suggests that negotiators with a primarily cooperative style are more successful than hard bargainers at reaching novel solutions that improve everyone's outcomes. Negotiators who lean toward cooperation also tend to be more satisfied with the process and their results, according to Weingart.

What are the six habits of merely effective negotiators?

The author describes six common mistakes that result in merely effective negotiation: neglecting your counterpart's problem, letting price bulldoze other interests, letting positions drive out interests, searching too hard for common ground, neglecting no-deal alternatives, and failing to correct for skewed vision.

What is the 2nd rule of negotiating?

2. During the process: Don't negotiate against yourself. This is especially true if you don't fully know the position of the other side. Much is learned about what the other side really wants during the actual negotiation process.

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