Negotiating 101 - Keys to Successful Negotiating


This refers to a discussion between two or more people with the common goal of solving a dispute and reaching an agreement.

When to negotiate

Negotiation can take place anywhere and anytime. It is not only limited to board rooms or other formal business meetings. You can negotiate everything in your daily life. For instance, you can negotiate with your friends on where to eat, on where to visit or on which movie to watch.

Why negotiate?

You should make it a habit to negotiate for a number of reasons. First, negotiation aids in building lasting relationships. No one likes to be around a person who forces his or her opinions on others, instead people prefer individuals who are able to listen to them and take their feeling into consideration. Secondly, negotiation makes it easier for people to trust you.

Negotiation plan

Like every other endeavor, you will need a plan to go about your negotiations. A simple negotiation plan has three stages; the preparation stage, the negotiation stage and the agreement stage.

Preparation stage

This is a vital stage in any negotiation process. At this point you are required to ask your self the following questions. What do you want to negotiate? Is it a pay rise or a weekend off? What is involved? Is it money or property? What are your objectives? What do you stand to gain or loose from the negotiation. Having answers to these questions will guide you through the next stages of the negotiation.

Negotiation stage

This is the backbone of the whole negotiation process. Communication and confidence are key elements at this stage. If you stand to benefit from the process you need to be as persuasive as possible .Have a friendly attitude towards him or her and let the other party know exactly what you want. Confidence will come when you know your product or have concrete facts to support your position. Stay aware of your limits.

Agreement stage

Once you have come to an agreement and only when it is necessary, put everything down in writing. This not only makes that agreement binding but also acts as a future reference for both of you.

Source: - Your guide to climbing the Corporate Ladder


Related: Negotiating Skills

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