(Hi - it has been a while since I last added any new insights to my blog. I have been madly travelling in Namibia, and am playing catch-up with life. However, I stumbled across these tips and thought they were usefull!)
First and most importantly, positioning is everything in negotiation. The way that the situation is initially approached, and when, are more influential on outcomes then all of the other negotiating
tactics and techniques combined.
Rules 1 and 2 are absolutely critical even before you start a negotiation.
1. Have an alternative - negotiate with freedom of choice.
If you are selling something -be unique, and have lots of other potential customers, and so be able to walk away; if buying definitely be able to walk away.
2. Negotiate when the sale is conditionally agreed, not before (if buying the opposite
applies) Negotiate when the sale is conditionally agreed, and no sooner.
3. Aim high, Aim for the best outcome. (You can always drop your position, but you can't climb)
4. Let the other side go first. Try to avoid 'going first' on price if you can.
5. List all of the other side's requirements before negotiating. Get the other person's full 'shopping list' before you start to negotiate.
6. Concessions - don't give them away. Never give away a concession without getting something in return (buyers tend to resist giving any concessions at all).
7. Keep the whole picture in your mind. Know where you want to go.
8. Prepare and keeping looking for variables and solutions. Keep searching for variables, concessions, 'bargaining chips', incentives.
9. Keep accurate notes, and show that you are doing it.
10. Summarise and clarify the negotiation as you go, confirm understanding continually.
First and most importantly, positioning is everything in negotiation. The way that the situation is initially approached, and when, are more influential on outcomes then all of the other negotiating
tactics and techniques combined.
Rules 1 and 2 are absolutely critical even before you start a negotiation.
1. Have an alternative - negotiate with freedom of choice.
If you are selling something -be unique, and have lots of other potential customers, and so be able to walk away; if buying definitely be able to walk away.
2. Negotiate when the sale is conditionally agreed, not before (if buying the opposite
applies) Negotiate when the sale is conditionally agreed, and no sooner.
3. Aim high, Aim for the best outcome. (You can always drop your position, but you can't climb)
4. Let the other side go first. Try to avoid 'going first' on price if you can.
5. List all of the other side's requirements before negotiating. Get the other person's full 'shopping list' before you start to negotiate.
6. Concessions - don't give them away. Never give away a concession without getting something in return (buyers tend to resist giving any concessions at all).
7. Keep the whole picture in your mind. Know where you want to go.
8. Prepare and keeping looking for variables and solutions. Keep searching for variables, concessions, 'bargaining chips', incentives.
9. Keep accurate notes, and show that you are doing it.
10. Summarise and clarify the negotiation as you go, confirm understanding continually.
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