Understanding the Basics of Negotiation

Negotiation is the method of settling disputes that have differing views and goals. Whether you are a natural negotiator by birth or you have to get better at it, understanding the basics can assist you in learning how to claim value and create as well as manage fairness issues and get a positive outcome.

Before you engage in a negotiation it is essential to have clear and concise goals for the outcomes you wish to achieve, as well as the information and research needed to support the goals. This preparation enables you to anticipate counterarguments and develop strategies for success.

It is also crucial to understand other parties’ interests, including their desires, needs and concerns, as a way of anticipating possible objections. You should also be able to communicate your own goals and the motivations for them. By doing so you will appear more credible and persuasive.

In the end, you must be able, within a reasonable range to compromise. Making a rigid position at the beginning of negotiations is usually not the best option, since this can be viewed as a lack of inclination to reach an agreement. Instead you should be prepared concessions on something you value but only when it can be matched by the other party’s desire.

Another important element of preparation for negotiations is to determine your walk-away point (your BATNA, or the best alternative to a negotiated agreement). This will allow you to decide when to end the discussion, as you will not be able to continue to negotiate in the hope of reaching an equitable agreement if the other party is in a state of despair.

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