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In a previous post, What is Negotiation?, we discussed the Five Negotiating Tactics. This is the fifth and final installment of going in-depth with an explanation of each of them. This post covers the closure to negotiations.
Put it in Writing
Once you have both come to an agreement, put it in writing, right then and there. Make sure there are no misunderstandings. If the close is emotional for either side, take this into consideration as well. Remember there is no room for emotions in negotiations, so if you’re the one who is emotional — gain control or finish the negotiations when you can control your emotions. DON’T close the deal if you’re not in control.
Make sure all concessions are in writing and that you and the other negotiator sign off on the agreed-upon terms. This isn’t a time to rush, but instead to make sure both parties are in agreement. You both should be satisfied with the end result. Finalize the agreement and move forward without delay.
This concludes the in-depth explanations of the Five Negotiating Tactics. Focus on the areas that need to be improved, but also refine the areas that are your strengths. Explore how many times you engage in negotiating today and enjoy the give and take of Negotiations!
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In a previous post, What is Negotiation?, we discussed the Five Negotiating Tactics. This is the fourth installment of going in-depth with an explanation of each of them. This post covers why it is important in negotiations, as in life in general, to be trustworthy and honest.
Negotiations – Take the High Road
If the other negotiator becomes argumentative, the best approach is to let them talk themselves out and simply take notes. This will keep you from getting emotionally involved and will give you time to gather your thoughts. Listen carefully and verify that you understand their position. Sometimes just this simple verification brings the negotiations closer to your position, just because you listened. Sometimes that’s all people want to know — that you’ve listened to their side of the story. It’s a powerful feeling to know that you’ve really been heard.
On the other hand, the argumentative negotiator may be using this as a tactic to get you to bend. Don’t. Let them talk themselves out and actively respond through verification of your notes. This reiteration of their side disarms them.
Remember, you’re looking for a long-term relationship here; that means finding ground where both parties can come out winners. If you sense hard feelings of any kind, attempts to break the ice and smooth the process will work in your favor.
Negotiations include a series of turns until finally both parties come to an agreement. Most importantly, trust must not be broken within negotiations. Things may feel strained if they’re not handled properly. That is why doing your homework and understanding both sides of the negotiations will eliminate most, if not all, of the issues.
Give to Get
Be trustworthy and honest in your negotiations. Be fair. If others are unfair to you, let them know. Don’t allow unfair treatment. This will break down the relationship, so confront the issue immediately. Generosity begets generosity. Fairness begets fairness. Unfairness brings about a lack of trust and a break down in the relationship.
When negotiating, if you give something away once, don’t give away anything else until the other negotiator gives you something in return. Sometimes we get nervous and think we need to keep talking, when in actuality you already gave and already talked plenty.
Always take turns. After you make a move, wait until the other party reciprocates before you move again.
Look for the next post on the Five Negotiating Tactics which will cover Closure: Putting it all Together.