Preparation is Key to a Successful Negotiation
The way you approach negotiations is closely related to motivations, objectives and requirements of the other party. This short video examines these three key elements in the context of a successful negotiation.
Why they might be taking an action?
Solid preparation requires that we probe and collect information to gain a more complete understanding of both the customer’s and the seller’s negotiation motivation. Why are they acting as they do? We also need to understand why we, including our team, are acting as we do.
The relationship between motivations and objectives is simple. Motivations are the “why,” and objectives are the “what.”
What are they trying to achieve
What’s the end result to solve the problem?
Preparation means always gathering information to gain an understanding of the motivations and objectives of the other side as well as our own. Without this understanding, we’re merely guessing at the terms (the requirements) that might satisfy the other side. How can you answer the other side’s problems if you don’t know what they are?
Many negotiations are over before they start because a negotiator couldn’t, or didn’t, prepare. This means examining the other side and their needs thoroughly, and giving yourself a chance to build the leverage and confidence that only preparation delivers.
The steps to get there
While motivations are the “why” and objectives are the “what,” requirements are the “how.” In other words, the requirements in a negotiation are the steps agreed to by the parties to achieve the objectives. Most proposals should clearly outline the objectives and focus on requirements. Either I am telling you how I will achieve your objectives, or you are telling me.