How do you measure your negotiation success?

1 Why measure negotiation success?

Measuring your negotiation success is important for several reasons. First, it can help you evaluate your strengths and weaknesses as a negotiator, and learn from your mistakes and successes. Second, it can help you set realistic and achievable goals for your future negotiations, and track your progress and growth. Third, it can help you communicate your value and impact to others, such as your boss, your clients, or your partners.

2 What to measure in negotiation

Measuring different aspects of negotiation depends on the purpose, context, and criteria. Commonly, outcomes, process, and skills are measured. Outcomes refer to the results of the negotiation, such as agreements reached, value created, satisfaction of both parties, and relationship quality. Process is about actions and behaviors during the negotiation, such as strategies, tactics, communication styles, and emotions. Skills refer to abilities and competencies used or developed in negotiation, such as listening, questioning, framing, problem-solving, influencing, and adapting. Outcomes can be measured quantitatively or qualitatively. Process can be measured by observing or recording the negotiation interactions or by asking for feedback from the other party or a third party. Skills can be measured by self-assessment, peer assessment or expert assessment using tools like checklists, surveys or tests.

3 How to measure negotiation success

Different methods and tools can be used to measure your negotiation success, depending on your resources, time, and preferences. Debriefing is a process of reflecting on the negotiation experience and identifying what went well, what went wrong, and what can be improved. Journaling is a practice of writing down thoughts and feelings about the negotiation experience, while scoring is a technique of assigning numerical values to the performance based on predefined criteria and scales. Questions for debriefing can include: What were your goals and expectations? What were the main challenges and opportunities? How did you handle them? What were the outcomes and how do you feel about them? What did you learn and what can you apply to future negotiations? Prompts for journaling might include: What did you do and why? How did the other party react and respond? What surprised you or confused you? What did you enjoy or dislike? How did the negotiation affect you and your relationship with the other party? Indicators for scoring could be: How well did you prepare for the negotiation? How well did you execute your strategy and tactics? How well did you communicate and collaborate with the other party? How well did you achieve your desired outcomes? How well did you manage your emotions and cope with stress?

4 When to measure negotiation success

Measuring your negotiation success at different stages of the process can help you reach your goals and needs. Before the negotiation, you can assess your readiness, such as knowledge, skills, confidence, and motivation, and identify any gaps. Additionally, establishing a baseline can help you set targets and benchmarks. During the negotiation, measuring progress and effectiveness can help you adjust your approach and tactics. Afterward, you can measure results such as agreement, satisfaction, and relationship. Finally, measuring growth like learning, development, and performance can help you apply insights to future negotiations.

5 How to improve your negotiation success

Assessing your negotiation success is essential for improving your negotiation practice. To do so, you should set SMART goals, seek feedback from others, learn from experienced negotiators, and practice regularly. SMART stands for Specific, Measurable, Achievable, Relevant, and Time-bound - characteristics of effective goals that can help you focus, motivate, and challenge yourself in negotiation. Feedback can help you gain new perspectives, identify blind spots, and improve your skills and behaviors. Learning from others can help you discover best practices, acquire new knowledge, or develop new competencies. Regular practice is also important for enhancing your confidence, competence, and creativity in negotiation. How do you measure your negotiation success? What methods and tools do you use? Share your thoughts and experiences with us.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?