Negotiation touches every part of our lives. Relationships in business and in our personal lives are negotiated. And the skills to do it effectively can often mean the difference between getting what you want or losing out. You don’t get what you deserve, you get what you negotiate!
In the first section of the book, How to be a Great Negotiator, written by property economist, investor and developer Neville Berkowitz, the characteristic traits of a great negotiator are explored in short, bite-sized nuggets of advice.
Over the next 132 days, we will bring you the traits needed to succeed at the art of negotiating.
(Courtesy of PersonalEmpowerment.co)
The ability to analyse and assess the opportunity you want to negotiate, or are in the process of negotiating, or have concluded negotiating, will enhance your awareness of relevant factors and increase your success rate.
In the preparation stages of negotiation, the ability to analyse the likely initial positions of each party prior to negotiations is based on research, information, knowledge, intuition, and certain judgments and safe assumptions. Prior to commencing the negotiation process, it is important to analyse what would constitute an acceptable outcome for you, as well as your bottom line acceptance level. During the negotiation process, your ability to continually assess the flow of the process is based on your continual analysis against your bottom line and acceptable outcome levels. If this continual assessment process shows that your desired outcome seems improbable, ask for a pause in the negotiations. You can leave to confer with a higher authority (your boss – real or imagined), or suggest a break for refreshment on neutral ground.
During the pause, you can analyse what has gone wrong with your initial expectations and creatively consider your options. Quite often these pauses place your creativity under pressure so that you can “pop” out a solution to get your negotiations back on track. Ideally, you can come up with an ingenious idea to create a win-win scenario. But beware of “analysis paralysis”. Analysis is a tool that can become a trap. Use it wisely when required, but don’t let it dominate the process or negotiations can bog down. Analysis must be partnered with intuition in order to stay attuned to the flow and process of the negotiations at hand. And often analysis is best applied after the negotiation is over, for self-assessment and improvement.