Good preparation is key to a successful negotiation, according to Rupert Mack, Head of Management Studies at Demon College.
‘Being under prepared can mean you fail to reach agreement with the other party – that's why it's important to spend some time beforehand thinking about what you ideally want to get out of the negotiation and what you are prepared to accept.Prioritize your aims – what's your main aim? What secondary goals do you have? Are you flexible about what you want to achieve? If you cant achieve your ideal goal what would be an acceptable end 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? And what 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 same as, or different from, your own.Consider how you might try to build trust and understanding, offer compromises and find common ground – crucial not just for the success of this negotiation but for building a long-term business relationship.‘It can be useful to run through your ideas with a colleague, ask their advice, and so on. If you are negotiating on behalf of others perhaps a group of colleagues, take time to understand their concerns, so that you can accurately represent their views.'
Good preparation is key to a successful negotiation, according to Rupert Mack, Head of Management Studies at Demon College.
‘Being under prepared can mean you fail to reach agreement with the other party – that's why it's important to spend some time beforehand thinking about what you ideally want to get out of the negotiation and what you are prepared to accept.Prioritize your aims – what's your main aim? What secondary goals do you have? Are you flexible about what you want to achieve? If you cant achieve your ideal goal what would be an acceptable end 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? And what 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 same as, or different from, your own.Consider how you might try to build trust and understanding, offer compromises and find common ground – crucial not just for the success of this negotiation but for building a long-term business relationship.‘It can be useful to run through your ideas with a colleague, ask their advice, and so on. If you are negotiating on behalf of others perhaps a group of colleagues, take time to understand their concerns, so that you can accurately represent their views.'
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