Understanding the Basics of Negotiation

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Negotiation is the process of settling disputes based on different perspectives and goals. If you’re a naturally negotiator, or need to learn how, understanding the basics can help you to claim value and create as well as handle fairness concerns to be successful in achieving a result.

Before you begin negotiating it is essential to have clear and concise goals defined for the outcomes you wish to achieve, along with the information and information needed to aid in achieving these goals. This preparation allows you to anticipate possible counterarguments and formulate a strategy to be successful.

It is also essential to be aware of the other parties’ interests, as well as their desires, needs and fears in order to avoiding potential challenges. You must also be able to explain your own personal interests and the motives for them. By doing so, you will be more convincing and credible.

Additionally, you should be willing, within reason to compromise. Making a rigid position at the start of negotiations isn’t the best approach, as it can be seen as a lack or inability to reach an agreement. Instead, you should offer concessions on something you value but only when it can be match by the other side’s interest.

Another crucial aspect of preparing for negotiations is to know your walk-away point (your BATNA, or best alternative to a negotiated deal). This will allow you to decide when to stop a discussion, as you won’t be able to continue to negotiate in the hope of reaching an equitable agreement if the other side is hopelessly dug in.

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