This week I’ve been noticing how frequently negotiation skills come up in my coaching sessions. Recognizing an upcoming conversation as a negotiation, and practicing in our sessions, helps my clients to navigate these important opportunities. Introducing the concept of striving toward a win-win
outcome and having a BATNA
(Best Alternative to a Negotiated Agreement) are key to a successful outcome.
Here are some negotiations you might experience in your day-to-day life:
- Salary negotiations with an employer or client
- Negotiating with a friend or family member over plans or activities
- Negotiating with a landlord over lease terms or rent
- Negotiating with a partner or spouse over household chores or shared expenses
- Negotiating with a service provider over the scope or quality of work performed
- Negotiating with a team member over project direction or resource allocation
- Negotiating with a child over behavior or consequences.
So, how can you tell when you’re in a negotiation? Here are some signs to look out for:
- There is an exchange of offers or counteroffers, such as discussing prices, salaries, or terms of a contract.
- The conversation involves a give-and-take process, where both parties are seeking to reach a mutually beneficial agreement.
- There is a level of tension or disagreement between the parties, as they are trying to find a solution that meets their needs and interests.
- The parties are seeking to influence each other's decisions or behavior, and are willing to make concessions or compromises to reach an agreement.
If you recognize these signs in a conversation, it's likely that it is a negotiation. By recognizing this, you can approach the conversation with a negotiation mindset and use the appropriate strategies to reach a successful outcome.
Here are some steps you can take to prepare for a negotiation:
- Define your goals and objectives: Before entering a negotiation, define your goals and objectives for the conversation. What is it that you want to achieve? What are your priorities and what are you willing to compromise on?
- Research and gather information: Research the topic of the negotiation, as well as the other party's needs, concerns, and perspective. This will help you to identify areas of agreement and areas where compromise may be possible.
- Identify your strengths and weaknesses: Identify your own strengths and weaknesses, as well as those of the other party. This will help you to anticipate potential objections and areas of resistance.
- Determine your bargaining power: Consider your bargaining power in the negotiation. What leverage do you have? What alternatives do you have if the negotiation is unsuccessful?
- Practice active listening: Practice active listening skills so that you can better understand the other party's perspective and find common ground.
- Develop negotiation strategies: Develop negotiation strategies, such as identifying potential trade-offs, considering creative solutions, or developing a BATNA (Best Alternative to a Negotiated Agreement).
- Plan your communication style: Consider how you will communicate your goals and objectives during the negotiation. Will you be assertive, collaborative, or a mix of both?
Here’s a great video
where Kellogg Professor Jeanne Brett illustrates her strategies for finding a win-win in a successful negotiation.
By taking the time to prepare for a negotiation, you can enter the conversation with confidence and increase the likelihood of achieving a successful outcome. Remember, negotiating is a skill, like any other that can be learned, prepared for and, improved with practice. So don’t avoid a conversation because it feels like it might be a difficult conversation. Recognize, prepare, and practice.
What negotiations might you need to prepare for?
