Effective negotiation hinges on thorough preparation, which involves clearly defining desired outcomes, understanding your own and the other party's positions, and planning the process and tactics.
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the first stage of any negotiation is
preparation and in this video I'm going
to cover the things you need to think
about and do during the preparation
stage of your negotiations begin with
the end in mind that's the advice in
Stephen Covey's seven Habits of Highly
Effective People it's habit number two
and that works very well as advice for
the preparation stage of a negotiation
begin with the end in mind think about
what you want to achieve the outcome
you're looking for and the first thing
to really focus on in the preparation
stage is the whole goal of your
negotiation what is it that you want
once you know what you want you what
your goal is it's time to think about
your objectives what are the measures of
a successful outcome for you and we can
think of objectives for negotiation in
terms of three things first there's what
you want to get all the things you want
to have as a result of this negotiation
and secondly there's how much you are
prepared to exchange for this and the
third thing is the conditions the
conditions that you want to attach to
the negotiation and the conditions
you're prepared to accept from the
negotiation put all of that together and
what you're effectively doing is writing
the agreement from the negotiation in
some detail some people like to think of
objectives in terms of the smart
framework to make sure your objectives
are well written and there are lots of
different ways you can articulate the
smart framework my preference for
negotiation purposes is to think of s
for specific be as specific as you can
about what you want to achieve and what
you're prepared to give and the
conditions that you might impose or
might be prepared to accept and when I
think about specific I think that
measurable quantities is part of
specific therefore the aim of smart
stands for meaningful there is no point
in going into a negotiation unless you
can achieve meaningful outcomes it's a
waste of time otherwise some people like
to haggle and they end up wasting time
on negotiations that they could just
settle by pressing a Buy button on a
webpage so think about the meaning and
the value of the negotiating process and
make sure that it's all going to be worthwhile
worthwhile
the a of smart stands for achievable
there is no point
identifying preferred outcomes preferred
cost that you know isn't going to be achievable
achievable
do your research figure out what's
available and how much you might expect
to pay for it and yes a good negotiation
will get you the best terms available
and maybe even marginally better terms
than are available but they're not going
to revolutionize over the whole world
you are not going to change the laws of
supply and demand have physics I'm going
to have our fault responsible make sure
that the outcome you want the amount
you're prepared to pay the terms and
conditions you might impose an accept
are responsible if they do good for the
organization you represent and they are
likely to be fair for the counterparty
to the negotiation and for any other
stakeholders and finally t4 timeframe
think about the timeframe within which
you want to negotiate also think about
the timeframe over which the agreement
is likely to extend some negotiations
are about a short one-off transaction
others are about long-lasting
relationship and a contract that can go
into years and years thinking about the
right timeframe not only for conducting
the negotiation but for the outcome is
important the next thing to think about
is your bottom line you will walk away
limit the point at which if the offer is
insufficiently good you will just walk
away from the negotiation knowing there
is no point and a term I like very much
is the best alternative to a negotiated
agreement Batna coined by Fisher and ury
in the book getting to yes the best
alternative to a negotiated agreement is
what you would do if the negotiation
failed or if you couldn't enter into the negotiate
