EFFECTIVE NEGOTIATIONS

Madelyn Valine-Taylor

What is Negotiaton It is the process of two or more people

bargaining that have their own aims, needs or viewpoints that are trying to come to a common ground.

Communication Needs for Negotiation

Organize thoughts Don’t think about it, think through it

Consider the outcomes before responding Recognize actions (body language)

speaks louder than words Be concise Translate message into benefits Listen carefully to other party

Effective Listening Be receptive to the other party’s message. Make a commitment to listen and not interrupt. Listen for feelings, as well as facts, and consider

the other party’s concerns. Eliminate distractions. Respond to the other party with open ended

questions that stimulate conversation. Rephrase information to clarify your understanding of his or her message.

Take notes on the important points the other party makes, and keep these points in mind as you formulate your responses.

10 Steps to Effective Negotiations

Identify the bottom line. What is your walk away point from negotiations?

Consider the objectives and motivations of the other party.

Plan the sequence of the negotiations (start at high point and move in small increments to bottom line)

Prepare for meeting by knowing your own objectives and motivations

Knowledge is power have facts, cost, comparable prices etc ready

10 Steps to Effective Negotiations

If other party makes first offer allow this move to gage response and set parameters to obtain benefit.

Start discussion on mutually agreed points When proposing deal use “I will do this for

you and you will do this for me” to establish authority and confidence in negotiations

Make argument incrementally to avoid going to lowest point to quick

Know when to walk away. If other party is ready to settle be prepared to close the deal.