What do you do if your contract negotiation skills need a boost from strategic thinking?

Strategy is making a choice and choices require information. Turn over every stone for inspiration. - Benchmark or historical data points/negotiations - Adjacent categories or industries - Industry publications - Tap peers and mentors - Evaluate WIFM of the party across the table - Write down things that aren't important that you are willing to concede that may seem important to achieve your most important goals Aggregate all of this and the strategy and tactics will form.

To boost your contract negotiation skills with strategic thinking one mighty needs the following 1. Preparation thoroughly by researching the contract, understanding needs, and anticipating agreements/disagreements. 2. Set clear objectives and define goals. 3. Understand the other party's motivations and constraints. 4. Develop a tailored negotiation strategy. 5. Focus on creating value for both parties. 6. Practice active listening to understand the other party's perspective. 7. Be creative and open to innovative solutions. 8. Handle deadlocks by remaining calm and seeking compromises. 9. Seek feedback post-negotiation to improve your skills for the future.

I'd recommend you understand Edward Bernays' strategies on the engineering of consent. There is no free lunch here. It takes time under tension to develop negotiation skills. If you are at the point of negotiating a contract and struggling, you have already failed by not prepping the battlefield for victory in the first place. The negotiations started the moment you met the client for the first time. You're late to the party!

Assessing needs can help to identify any particular area that has room for improvement, recognise any gaps and address the identified issues appropriately for enhancing strategical thinking and planning for future development. ??checklist of desired measures ??self-assessment ??gap analysis ??action plan ??active listening ??consider from different perspectives

Strategic thinking requires ongoing research and communication. Yes, it is about trajectories and dreams. It involves understanding and articulating your domain of expertise, your client's goals and aspirations, and the objectives and aspirations of others involved. This encompasses bringing these insights to the table, reimagining the future, and considering the implications of various outcomes. A good strategy is all about preparation, performance, and accountability.

Negotiation models and frameworks from game theory offer interesting insights into strategic decision-making. It helps with risk assessment, conflict dynamics, and cooperation techniques. Integrating game theory principles can enhance negotiators understanding of strategies in complex bargaining scenarios.

Practice is crucial. To master a skill, it's important to study cases, and the news is full of examples. Try imagining solutions for tough negotiations, test your responses, and observe real-life scenarios unfold. Practice discussing it with a partner, friend, or even a stranger.

Practice strategic thinking for contract negotiation can enhance: ??understanding of the effect of different strategies ??adaptability ??analytical analysis ??effective communication ??Role play of negotiation under different scenarios can give opportunities to practice strategic thinking, effective communication and negotiation skills (similar to practice sessions of some legal skills course).

Seek feedback from peers or mentors may gain useful insights and different perspectives that broaden mind for strategic thinking for negotiation or other related aspects. ??active listening ??passion to learn, grow and improve ??resilience ?adaptability ??constructive feedback is beneficial for reflection and further analysis for improvement ??not to get discouraged by feedback ??see feedback as opportunities to leverage, and become a better version of self

Adapt flexibility in strategy or approach would be beneficial for contract negotiation and continuous pursuit of the most appropriate move or action plan in midst of changes in environment, business needs or requirements. Flexibility may be exercised, when necessary or appropriate ??changes or anticipated changes in laws and regulations ??new information about alternatives or options ??changes in trend of relevant supply or demand ?new issues raised by counter-party ??need to meet objections ??analysis (eg. SWOT analysis of strength, weakness, opportunities, and threat; and costs and benefits analysis) lead to new insights for strategy or pivoting ??adaptations for collaboration that can result in mutual benefit and synergism

From my experience, reflections of what happened in the past can provide insights for contract negotiation strategies, skills and techniques. Reflections on: ??what have produced good results or gain acceptance, for example, certain clauses for draft contract ??what kind of strategies are used effectively under certain circumstances ??benefits of active listening, empathy and collaboration for win-win solutions ??emotional intelligence - help to maintain professionalism and clarity of mind ??perseverance and resilience - help to overcome obstacles during long negotiation process ?emotional balance - helps to stay calm and manage stress