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.
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