In the ‘bare-knuckle’ negotiation phase? You’re nearly there
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 few months, we will bring you the traits needed to succeed at the art of negotiating.
(Courtesy of PersonalEmpowerment.co)
Great negotiators know that every negotiation has a beginning, a middle, and an end. They know where they are in the negotiation at any point along the way. And they make sure that each stage of the negotiation is complete before proceeding to the next phase.
The initial phase of a negotiation is the strategic preparation phase. This involves research, investigation, and strategy development.
The second phase is the initial connection and exploratory phase. Here you meet the other party in the negotiation, establish a positive connection, and identify common ground. This could also be called the “getting to know you” phase.
The third phase is the relational investigative phase. Here, through a friendly conversational inquiry, you identify relevant background information, knowledge, and the motivations of the other party.
The fourth phase is the ascertaining-primary-needs phase. Here, through direct, open-ended questioning, you ascertain the other party’s bottom-line practical requirements and needs. This phase also identifies the parameters of acceptance that will allow a negotiation to succeed.
The fifth phase is the creative solution phase, i.e., how high or how low they will go. This is also the phase where options are conceived and explored to determine whether you and the other party can achieve your objectives via less onerous conditions than those already explored.
The sixth phase is the “bare-knuckle” phase of asking/rejecting, asking/rejecting, and so on, until the stage is set for some “finessing” of terms and conditions that allow you to reach a mutually acceptable agreement.
The seventh phase is the paperwork phase. Here the nitty-gritty details of the negotiated agreement are clearly spelled out to ensure that the agreement can be executed precisely and efficiently from beginning to end. This ensures that there will be no misunderstandings and gives both parties peace of mind relative to the agreement.