Negotiation Process - "The Deal"

Most negotiations have a defined process that go through 3 stages: 

1.    Overture

2.    Dance

3.    Deal  

Stage 3: The Deal “Brass Tacks”

In this stage the negotiations are moving toward a desired end or close by both parties and can be characterized by rapid fire – “if, then” conditions in the exchange – this is also a stage for measured unemotional discipline as we: 

·      Agree to general terms and conditions

·      Start to shape and form “if I do this, then you will you do that”

·      We both want to do this – let’s find out how to work together in a spirit of mutual satisfaction of values in getting what we both want

·      Usually driven by a deadline combined with potential loss or penalty

·      Focus on “mutual agreement” – not “fairness”

·      Emotional commitment to action for a specific result

·      Rapid fire give and take on terms, conditions and concessions

·      If it’s not to be – let’s agree to part and stay friends – it’s just business 

Best practices: Keep emotions in check – don’t fall in love with making a deal just to make a deal in order to just get what you “need” – focus with intentional action on what you “want”.

·      Prioritize your real needs, wants, and nice to haves – then do the same for the other party based upon everything you learned in the dance of discovery.

·      Set high goals and expectations. Set your sights higher than what you need, reach for what you want.

·      Create and leverage competing alternatives. Competition sharpens the results of every negotiation.

·      Trade concessions slowly and in small increments based upon your priority list. Make a concession to get a concession beginning with your least important or valuable first.

·      Confirm every concession in writing on both sides at the end of every negotiation session. The faintest of ink is better than the best memory 

Always get it in writing by an authorized and empowered individual before considering any deal “closed”, and never deliver or exchange value until the deal is signed within the 4 corners of an agreement by both parties.