3 Important Tips for Negotiation

Tip 001 – Preparation

For a successful negotiation, thought and preparation will greatly increase your chances of a win/win/win situation. Not only will it keep the negotiation process running smoothly it will also give you confidence and help pre-empt any negatives.
You have probably heard the old saying, ‘Failing to plan is planning to fail’, and I guarantee that if a negotiation falls through due to the lack of preparation you will kick and berate yourself for not spending the required time preparing. The next few posts will focus on top tips for preparation and will prevent this from happening.

Tip 002 – Spend Time Planning

Depending on the situation, you will have differing amounts of time to spend planning. Planning can help pre-empt negatives, fill you with confidence and will help the negotiation conversation flow.

Use whatever time you have to make sure that you are armed with the facts!

Tip 003 – Know who you are dealing with

The more that you know about the person that you are negotiating with the better. Creating common ground helps relate to each other and is a cornerstone of healthy conversation.

If the situation allows, you should try and get as much info on the person that you are negotiating with, while we don’t recommend that you stalk the person prior to your meeting, any small details gained may help you find that all important common ground.

What Is Negotiation?

You would think that most people know what the definition of negotiation is, but around one million people type in the phrase ‘what is negotiation‘ into Google every month.

Some people will look for Google’s definition, which currently reads,
A discussion aimed at reaching an agreement’

Some people, who require a little more information, will head straight to the Wikipedia entry.

But the smart people will come to this site (that’s you by the way!)

There are many different types of negotiation, all with different definitions, here are the most common types of negotiation

  • Hostage Negotiation,
  • General Business Negotiation,
  • Salary Negotiation,
  • Peace Negotiation,
  • Union Negotiation,
  • Retail Negotiation,

So if there are all these different types of negotiations, the definition ‘A discussion aimed at reaching an agreement’, is a little vague don’t you think?

The one word that means the most in Google’s definition is ‘agreement’. Remember when we discussed the golden rule, this is what it relates to. So maybe the definition should be:

‘A discussion amongst two or more parties with the aim of gaining a mutually acceptable agreement’.

How would you define negotiation? Answer by using the comment form below.