“Foundations Of Negotiation - This Is How To Increase Success Factor”

“You create stronger foundations of negotiation based on the success factors you employ.” -Greg Williams, The Master Negotiator & Body Language Expert

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When you create strong foundations of negotiation, you establish the basis for negotiating successfully. But what are the foundations of negotiation components, and why should you be aware of them?

In this article, you will discover the answer and why it will add to your abilities to create more successful negotiation outcomes.?

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Foundations of Negotiation Success

My motto is, “You’re always negotiating!” How you position yourself today impacts tomorrow’s opportunities. Thus, understanding the foundations of negotiation is essential to negotiating effectively. The crucial components are:

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1. Planning: Planning is the foundation for how you will engage throughout the talks. It is where you create your roadmap based on objectives, the type of person you will negotiate with, relevant information about them, your needs - and theirs, and how you will address potential impasses.?

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2. Effective Communication: Communication in negotiation is an art. Your words and temperament impact how your offers are received. To become more effective, listen to the words used by the opposition, echo them, and speak at their pace. ???

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3. Building Relationship: Relationship building is another critical aspect of the foundation of successful negotiations. The likeability factor can garner concessions simply because the other negotiator likes you. Take time to display interest in the person you negotiate with and what is important to them.

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4. Problem-Solving Mindset: No matter your planning, something unanticipated could occur. To ease the mental anxiety that might arise, enter the negotiation with the mindset that you can address challenges and stay flexible, no matter what happens. Negotiation is both mental and strategic.

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5. Integrity: Maintaining integrity throughout a negotiation will benefit most negotiators. To the degree you can, be forthright and be aware of how the other negotiator perceives your actions.

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Negotiation Psychology?

While psychology plays an enormous role in negotiation, two key aspects to note are bias cognition and emotional intelligence.

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1. Bias Cognition: Cognitive biases are patterns we use that drive our actions. Based on the negotiation environment, they may be rational or tainted by irrational judgments. Good negotiators are mindful of them as they make decisions throughout the negotiation.

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2. Emotional Intelligence: Emotional intelligence (EI) is managing one’s emotions positively. Negotiators with EI awareness are better prepared to manage their feelings and those of the opposition. Thus, an elevated sense of EI helps negotiators calm themselves and their counterparts before becoming unglued and degrading their ability to focus on reaching a successful outcome.?

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Identifying Negotiation Styles and Preferences?

You and everyone you negotiate with have a preference for the negotiation style used, which will alter based on the individual type with whom a negotiation occurs. Knowing these styles and being adaptive to them will increase your negotiation skills, ability, and outcomes.

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During everyday interactions and negotiations, look for the following types.

- Accommodator: An accommodating negotiator prioritizes maintaining the value of relationships.

- Avoidant: This negotiator type seeks to avoid conflict.

- Collaborative: This negotiator pursues win-win solutions.

- Competitive: This person’s objective is to maximize their gains.

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It is worth noting that an accommodator, avoidant, and collaborative style will go along to get along. Do not become overly pushy when negotiators use these styles - and do not allow your opposite to push you when you adopt them.

To become more adept at observing and adapting to changing styles:

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1. Become Reflective: Create and nourish a feedforward process stemming from reflections of prior negotiations. Do that by seeking examples in which you identified different styles, how you addressed them, and the outcome. ?

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2. Adapt to Environment: Be aware of your preferred negotiation style; that is valuable because it creates awareness if you have to alter it based on the style used by your counterpart. Be vigilant and maintain a flexible mindset as the negotiation shifts the advantage between negotiators.???

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Understanding negotiation styles allows you to strengthen your position, which leads to more successful negotiations.

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Creating a Negotiation Strategic Mindset?

A strategic mindset entails being deliberate about immediate gains while considering long-term impacts on relationships. Observe the following suggestions to create that mindset:

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1. Planning: Develop a plan entailing the strategy you will use, your style of negotiation, and that of the other negotiator. Consider the environment where the negotiation will occur, its impact, and how you will get on track if diverted from your plan.? ?

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2. Goal Setting: Set clear goal expectations before entering negotiations – yours and what you expect to be those of the opposition. Create markers per where you wish to be in the process, and compare them to where you are during the talks. If you are off schedule, implement your planning strategies to get back on track. Above all, know when to exit a negotiation if you feel you cannot succeed per the goals you set.

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3. Be Analytically Observant: Heighten your sense of the opposition’s mindset, gestures, and how they make, decline, and accept offers. Declining offers quickly while making a hand gesture as if to swat it away can indicate more decisiveness about their rejection. If they accept offers quickly, that may indicate their desire to quicken the pace of the negotiation or their eagerness to reach the endpoint. In either situation, note the extra meaning conveyed by gestures.

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Reflection?

Adhering to the foundations of negotiation is vital for success; they are also essential components for everyday life dealings. Therefore, apply the factors mentioned above if you wish to become a better negotiator with more significant negotiation outcomes. And everything will be right with the world.

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Remember, you’re always negotiating!

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Listen to Greg’s podcast at https://megaphone.link/CSN6318246585

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After reading this article, what are you thinking? I’d like to know. Reach me at [email protected]

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To receive Greg’s free “Negotiation Tip of the Week” click here https://www.themasternegotiator.com/negotiation-speaker/ ?? and sign up at the bottom of the page

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