Negotiation and Decision Making (Part 2)
Here is part 2 of a chapter from our new book, Negotiation and Decision Making. Our Turbocharge Your Career series has seven more books planned for publication. All of the eight books will be available on Amazon.com and in Barnes and Noble stores across the US. We will also host this class online or in-person at selected locations around the world. Email us at firstname.lastname@example.org for more details.
5.1.5 Solving Their Problem
When you are researching, you will have to find out ways to solve the other side’s problem as well as your own.
Those include their values and the outcomes that they are looking for. Also discover some negatives in their business past.
1. All of those bits of information require asking them open-ended questions in the negotiation process. Ask things like “how will this help you” and “tell me more about that”.
Instead of getting an answer and moving on, keep asking to make sure you fully understand. That technique will also create a positive environment and show that you want to listen to their problems and needs.
2. In real life, often times there are no absolute distributive or integrative negotiations. Rather, they are a combination with varying degrees of each type. So you may always be able to find some ways to “enlarge the pie”:
- Gather as much information as possible
- Identify items of value
- Do not become competitive or force compromise. Compromising detracts from both sides
- Focus on the desired outcome for both sides
5.1.6 Let the Other Person Win
Identify Common Issues – Increase communication by showing how you are similar to the other person. It will increase trust and build a relationship
Maintain the Relationship – When something negative comes up, associate it with the terms of the deal and not the other person.
Show how the deal helps them – Be ready to prove that your deal will help their business. Be able to show them and not just tell them.
5.1.7 How to Derive Those Numbers
Many high-ranking business professionals quantify information and develop precise formulas to determine outcomes. If the other side does this, pay attention to the rationale and the formulas they have developed. Know how the other side reached their conclusions. Their method is likely to stay fixed, but the outcomes and numbers are not necessarily going to stay the same because they are more easily changed.
Rules to follow when trying to get at the final numbers:
- Know the guidelines, the goals and who is involved with the deal
- Strive for communication – Ask questions about items you understand
- Question numbers and assumptions – do not accept everything they give you
- Establish your uniqueness – Show why your product is better than the cheaper product and how it will help the other’s bottom line and business overall
- Focus on risks and benefits – Do not threaten or put pressure on the other side, but remind them of the risks of going with a competitor tactfully and through questioning rather than direct statements
5.1.8 Achieving Results
Several methods help to achieve the results you desire AND maintain or improve your relationship with the other party.
Find Objective Methods of Determining the Benefits of Solutions.
This will allow both parties to trust and value the terms to be agreed upon.
Concentrate on What You Want to Achieve, Not Where You Stand on an Issue.
This is a means of opening your mind to other options and modes of achievement. These would be less likely to automatically preclude the success of the other party.
Focus on Issues, Not Personality.
Avoid personal attacks. Your interest is in improving a relationship and achieving your desired results, not frustrating or offending the other party.
Comments are closed.
- Pace It to Ace It – Test Taking Tips for the SAT
- Specialized Business MS Degrees on the Rise
- Three ways to ace your MBA Admission interview through proper prep
- Applying for an M.B.A.: Reading Between the Lines
- The Ten Toughest Business Schools to Enter
- Basic Strategies to Conquer the GMAT
- The Profile of the 2011 GMAT Test Taker Demonstrates Growing Diversity.
- Business School Scholarship Application Advice
- The Changing Face of Executive MBA programs
- Business School Reapplication: To do, or not to do?