0:03 some people find the idea of negotiation
0:07 uncomfortable if they feel it's a bit
0:09 like asking for more than you deserve
0:12 but it's important to recognize two
0:15 things firstly for many people
0:18 negotiation is part of your job it may
0:21 not be about large-scale negotiations
0:24 for hard contracts day-to-day
0:26 negotiation with colleagues with
0:29 suppliers with customers and with
0:32 partners is what your job is partly
0:35 about and if that's true then getting
0:38 the best result for your organization is
0:42 your job the second thing to remember is
0:45 that negotiation isn't about getting one
0:47 over on somebody else it's not about
0:50 getting an unfair advantage over the
0:52 other party it's about finding a deal
0:54 that satisfies both of you
0:58 and therefore negotiation is a noble endeavor
0:58 endeavor
1:01 it's about finding something that is
1:04 fair the other thing that concerns
1:07 people about negotiation is they just
1:09 don't feel like they know how to do it
1:11 even though you've probably been doing
1:15 it since you're a child so in this video
1:18 I want to look at the fundamental
1:21 process of negotiation and then in
1:22 further videos we'll look at the
1:34 let's start by understanding what
1:37 negotiation is negotiation is the
1:39 process of searching for an agreement
1:44 that satisfies all parties what this
1:45 means is two things
1:48 firstly that negotiation is trying to
1:50 produce something that is fair for all
1:53 sides so you don't need to feel bad
1:55 about it and secondly because
1:58 negotiation is a process it means that
2:00 if you follow the steps in that process
2:04 you will get a predictable result now
2:05 I'm not saying you can predict the
2:08 outcome of the negotiation but what you
2:11 can predict is that the negotiation will
2:13 follow its course and you will get the
2:18 best results that you can there are four
2:21 steps in the core negotiation process
2:25 step one is preparation step two is
2:29 opening step three is bargaining and
2:33 step four is closing after these comes
2:36 follow up and you might regard this as a
2:38 fifth step in the negotiation process
2:43 but follow-up presupposes that the first
2:45 four steps have been successful and
2:47 therefore I like to think of follow-up
2:49 as being something that happens after
2:54 the negotiation process that said I will
2:56 of course discuss follow-up in this
3:00 series of videos for now I'll briefly
3:03 summarize the four steps and then we'll
3:05 look at them further in later videos and
3:07 the first step is preparation this is
3:09 about where you set yourself up to
3:12 succeed this is where you think about
3:14 the outcome you want to get of the
3:17 circumstances that prevail you inventory
3:20 the knowledge you have and you set up a
3:24 plan for how you're going to negotiate
3:29 step two is opening and in this step we
3:32 start the negotiation proper and I'll
3:35 talk about seven things that you need to
3:38 do to make sure you open the negotiation
3:43 well the heart of the negotiation is the
3:45 bargaining step this is what people
3:47 think of as a negotiation this is where
3:50 you haggle this is where you put offers
3:52 and receive offers this is where you
3:55 make concessions and request concessions
3:58 or it's search of an agreement that
4:02 satisfies all the parties and the fourth
4:06 step is closing this is a short but
4:08 essential step where you lock in the
4:11 agreement and you walk away from the
4:14 negotiation knowing that both sides have
4:19 agreed to a set of terms after that
4:22 follow-up is about enacting the terms
4:25 that you've agreed so look out for the
4:27 videos that will follow this one that
4:29 will take you through those steps in
4:31 detail and also look out for further
4:34 videos on the principles of negotiation
4:36 and some of the tools and techniques
4:38 that are available to you as a
4:41 negotiator to make your job more
4:44 effective and more efficient and also
4:47 I'll be including some videos looking at
4:50 how some of the masters of negotiation
4:53 tackle the craft and some of the advice
4:57 and guidance they would give but for now
4:59 I want you to remember two things
5:02 firstly that negotiation is a process
5:07 and it has four steps and secondly the
5:10 negotiation is an important part of a
5:12 manager's of a professionals of a
5:15 leaders role in their day-to-day work
5:17 you'll be negotiating with colleagues
5:19 you'll be negotiating with stakeholders
5:23 with suppliers with customers and it is
5:25 an entirely noble thing to be doing
5:28 because all you're looking for is a fair
5:32 settlement that everyone can be
5:34 please hit the thumbs up if you like
5:37 this video there's loads more great
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