Whether you consider yourself a natural negotiator understanding the fundamentals of negotiation is vital to improving your performance. Understanding the most important concepts such as ZOPA and BATNA can help you prepare for negotiations, create value, address fairness concerns, and reach an agreement which benefits all parties.
Negotiators usually fail to achieve success because they focus on their own interests. This can lead to a deal that doesn’t provide for your needs and leave behind an unsatisfactory outcome for the other party. To avoid this naivete be sure to consider the fundamental interests of both parties. Recognizing the various interests in an issue helps you see what is important to each side and gives you a more compassionate approach to the situation.
Begin by examining your personal interests, and what is at stake. Next, identify the interests of the other party by looking at the reasons they came to you as well http://digitaldatastorage.blog/ as their primary concerns and any previous history with your company. Getting to know the perspective of the other party will also increase trust, creating the foundation for establishing a productive relationship.
Find any concessions you are willing to make. Bring these options to the table and you’ll be better able to close deals more quickly. However, you must be cautious not to compromise your position or make it appear like you’re trying to play hardball. In the end, it’s best to focus on a win-win solution that leaves both parties feeling good about the outcome of their conversation.