The Art of Negotiation

Business cloudMany people think that negotiation is all about squeezing the other party as much as you possibly can in order to ensure that you get as much out of the deal as you possibly can. If this is the way you view negotiation dear reader then I think it is unwise. Successful negotiation should result in both parties feeling that the deal meets their needs; that it is a fair deal all round. It is not about screwing your opponent it is all about seeking a win-win position. Negotiators must find the common ground with their opponents such that the deal is as fair as possible to everyone. To put it another way; negotiation is the art of making your opponents think they’ve won whilst you ensure that you get everything you need from the deal.

When entering into negotiation over a deal you will have a series of ‘must haves’ and ‘nice to haves’ and so will your opponents. You need to ensure you get as many of your ‘must haves’ as possible. However in the process you need to let your opponent feel that they’ve won a little too. This might be achieved by conceding one of your ‘nice to haves’ to allow them to have something they really need. So a good start is always to ensure you know what the needs of your opponents are likely to be. Taking time to establish these beforehand will be time well spent.

Having a reputation for being a tough but very fair negotiator is far better than being known as someone who cares little for the needs of other people. In business we tend to do business with people we trust. Get a bad reputation and people won’t want to do business with you. And that will hurt you in the long term. People will respect someone who is ‘tough but fair’ but they’ll have no respect for ‘mean, grasping and insensitive to the needs of others’.

Winning at the expense of others might produce a short-term gain but in the long-term it’s likely to be counter-productive.

© RJ Sutton and Mann Island Media Limited 2014. All Rights Reserved.

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