Master These 4 Steps For a Great Negotiation

“He who has learned to disagree without being disagreeable has discovered the most valuable secret of a diplomat.” – Robert Estabrook”

Businesses enter into contracts, relationships, and agreements all the time. The ability to negotiate a favorable outcome for your organization can pay dividends for years to come. At Crestcom, we believe there exists five key steps to ensure an optimal negotiation:

  1. Prepare: This step is all about preparation and dialogue. Think through how you will begin the dialogue with the other party. Prepare in advance for the desired outcome, being sure to gather supporting information in favor of your desired outcome.
  2. Know: During this step, it is important to familiarize yourself with the needs and interests of the other party to help guide you in coming to a mutually favorable conclusion. Be sure to ask probing questions such as, “What do you think about this arrangement?”, “What concerns do you have that I may not have addressed?”, and “What might you need for me to make this request work?”
  3. Create credible alternatives: Negotiation is a dynamic process that doesn’t typically follow a narrowly-defined vision. Therefore, it is important to identify acceptable alternatives to your original vision. BATNA is a popular framework, and stands for “Best Alternative To a Negotiated Agreement.”
  4. Conclude: After both parties have reached an acceptable negotiation, make sure the conclude the negotiation with a clarifying phrase such as, “So what we’re agreeing to is….”. Articulate next steps for both parties.

Our Bullet Proof® Manager program covers negotiation modules designed to reinforce these concepts.

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