Preparing for a negotiation
Good preparation is key to a successful negotiation, according to Rupert Mack, Head of Management Studies at Demon College.‘Being underprepared can mean you fail to reach agreement with the other party – that's why it'simportant to spend some time beforehand thinking about what you ideally want to get out of thenegotiation and what you are prepared to accept.Prioritize your aims – what's your main aim? What secondary goals do you have? Are you flexibleabout what you want to achieve? If you cant achieve your ideal goal what would be an acceptableend to the negotiation for you – that is the best alternative to a negotiated agreement (BATNA)?‘The next step is to consider the approach you will take – will you negotiate face-to-face or on the phone? Will you be on your own or as part of a team? What-will your role be?‘Also try and find out as much as you can about the person or team you will be negotiating with – who are they? What's their role in the company? What might they want out of the negotiation? Andwhat might their objections* be to your proposals?If the other party is from a different culture, think how their way of negotiating might be the sameas, or different from, your own.Consider how you might try to build trust and understanding, offer compromises and find commonground – crucial not just for the success of this negotiation but for building a long-term businessrelationship.‘It can be useful to run through your ideas with a colleague, ask their advice, and so on. If you arenegotiating on behalf of others perhaps a group of colleagues, take time to understand their concerns, so that you can accurately represent their views.'