Negotiation skills you must learn to succeed
Parent Post
Business negotiators recognize that
Business negotiators recognize that the most effective bargainers are skilled at both creating value and claiming value.
They both collaborate and compete.
Here are some negotiation skillsthat will help you succeed at integrative negotiation:
Analyze and cultivate your
Analyze and cultivate your BATNA.
Your best source of power is your ability and willingness to walk away and take another deal.
Before arriving at the bargaining table, spend time identifying the best alternative to a negotiated agreement, or BATNA, and taking steps to improve it.
Present multiple equivalent offers
Present multiple equivalent offers simultaneously (MESOs).
Rather than making one offer at a time, present several offers at once.
If your counterpart rejects all of them, ask him to tell you which one he liked best and why. Then brainstorm an option that pleases you both.
This strategy decreases the odds of impasse and can promote more creative solutions.
Negotiate the process and
Negotiate the process and build rapport.
Carefully negotiate how you will negotiate in advance. Discussing such procedural issues will clear the way for much more focused talks.
Although it’s not always feasible to engage in small talk at the start of a negotiation, it can bring real benefits. Spend just a few minutes trying to get to know each other.
Try a contingent contract.Negotiators
Try a contingent contract.
Negotiators often get stuck because they disagree about how a certain scenario will play out over time.
Propose a contingent contract— a bet about how future events will unfold.
Listen actively and ask
Listen actively and ask good questions.
Listen carefully to the arguments, then paraphrase what you believe to check your understanding. Acknowledge any difficult feelings, like frustration, behind the message.
You can gain more in integrative negotiation by asking lots of questions. Avoid asking “yes or no” questions. Instead, craft neutral questions that encourage detailed responses.
Search for smart tradeoffs
Search for smart tradeoffs and be aware of the anchoring bias.
Identify issues that your counterpart cares about that you value less. Make a concession on that issue in exchange for a concession from them on an issue you value highly.
The first number mentioned in a negotiation, exerts a powerful influence on the negotiation. Avoid the anchoring bias by making the first offer and trying to anchor talks in your preferred direction.