You Too Can Become a Great Negotiator

Whether you like it or not, negotiations are a constant feature of our lives. We negotiate how much to pay for roasted corn and plantain, others negotiate over vacations spots, employees negotiate salary increases, countries negotiate their  security and finances, etc. I personally like to negotiate with my friends and family on how best to fulfill my binge-watching needs on Netflix and YouTube. Don't judge.

From my point of view, negotiation is the process that allows parties involved reach an agreement  that makes them better off. If you are like me, every now and then, you feel uneasy about a just concluded negotiation.  The reasons could be because the other party did not understand your position, or you agreed to a  deal that in hindsight wasn’t the best for you. This feeling is never pleasant and that is why I want  to share six tips that will help you prepare for and “win” your next negotiation.

John F. Kennedy  once said "Let us never negotiate out of fear, but let us never fear to negotiate."

Preparation is the  first step you must take to prevent negotiating out of fear.

Always have it in mind that the ability to negotiate is the key factor to getting what you want and you have to be courageous if you will get what you want.

Nevertheless, the best negotiations are a win-win for both parties. Before initiating a negotiation, preparation is key. You must consider the parties involved, their positions, interests, personalities, information they have, and the power they wield. And just like  in real estate, location, location, location matters!!! The venue of a negotiation significantly impacts the outcome. This is why the Biden-Putin Summit did not take place in the USA or Russia, it took  place in Geneva – a neutral location. Moving on from geopolitics, here are six tips that will help you become a better negotiator in your own rights. You can watch the video here:

The first thing you must do in a negotiation is - Clarify and develop your Alternatives (BATNA-Best Alternative to Negotiate  Agreement): During a negotiation, identifying your alternatives is key. Why? Because you do not want to reach an agreement after the negotiation only to find out other options could have been better. With a BATNA other options are considered vital, without it, you may fall like a pack of cards at the first refusal.

Focus on Interests: As you negotiate, the interest of the other party is paramount. When you understand the other party’s interests, you can often find creative ways to meet them. For example, during the 1912 US, presidential elections, Roosevelt and his Vice Johnson were to give a speech. A flyer was designed with their pictures and on the verge of printing millions of copies, they discovered that no permission was in place from the studio where the pictures were shot. An outrageous fine was adverted due to the proactive action of a staffer who called the studio executive and made him understand the amount of publicity the studio would get if he allowed them use the pictures free of charge. Negotiation at its best!

Place a higher priority on discovering what a win looks like for the other person. ~ Harvey Robbins

Create Options: Usually, the best options are not immediately obvious in a negotiation so you must be willing to be creative  in your approach. The answer is not always either yes or no. Everything is not black and white. The best answers could be “Yes and…” or “No, but…”. Combining options can help create new and unique alternatives.

Use Objective Criteria (when possible): This is the first step to accomplishing more, during negotiations. Defining your objectives will help establish the criteria for resolving issues. If it is a scientific issue, use peer-reviewed journals, if it's salary, use Glassdoor, for professional judgment, consult reputable associations/organizations, for market valuation, the Stock Market can be a useful benchmark. Additionally, agreeing on an objective criteria allows you to know whether the other party will negotiate in good faith or not.

The most critical thing in a negotiation is to get inside your opponent’s head and figure out what he really wants. ~ Jacob Lew

Communicating accurately & effectively: Your needs must be clear and concise to the other party. For instance, if you want a 10% increase on a particular offer, it must be communicated clearly in a way that it affects your partner's decision-making process. Pro tip: Better to ask for a % increase in your salary that to ask for a dollar amount.

Ask Question and Listen: In life the more you ask, the more you get. Someone said, there is no such thing as a stupid question, only stupid people who don’t ask questions. Being attentive and asking pertinent questions while negotiating helps you gain a better understanding of your partner’s interests and point of view.

One of the best ways to persuade others is by listening to them. ~ Dean Rusk

In a nutshell, negotiation can be intense and may include the unexpected but it is about selectively reviewing an information while gaining information from the other party involved. The next time you find yourself in a negotiation situation, remember to first identify your options, focus on the interest of the other party, be creative, use objective criteria, ask good questions and listen.

You do not get what you want. You get what you negotiate. ~ Harvey Mackay