Effective Negotiating - the Art, Science, and Practice (free Business e-Coach)

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Effective Negotiating

The Art, Science, and Practice

"Trust only those who stand to lose as much as you when things go wrong" - Bralek's Rule for Success

Bargaining Tips

by Benjamin Franklin

Be clear, in your own mind, about exactly what you're after.

Do your homework, so that you are fully prepared to discuss every aspect and respond to every question and comment.

Be persistent. Don't expect to "win" the first time. Your first job is just to start the other person thinking.

Make friends with the person with whom you are bargaining. Put your bargain in terms of his or her needs, advantages, and benefits.

Keep your sense of humor.

Getting to Yes: Negotiating Agreement Without Giving In

from "Getting to Yes", by Fisher, R, and Urey. W., the Harvard Negotiation Project

Related how-to guides:

Conduct During Negotiations

1. Separate the Relationship with the People from the Substance of the Deal

Be hard on the deal, soft on the people

See the deal from inside their shoes

Make your proposal consistent with their value

2. Focus on Shared Values and Interests, but not on the Positions Each Side Takes

Values define the deal

Each side has multiple interests - be clear on yours, discover theirs

3. In Stuck, Brainstorm Options for Mutual Benefit

Be creative, think outside the box

Identify shared interest

4. Use Objective Criteria for Decision-Making

Strike a deal based on principle, not pressure

Agree on fair standards and procedures

Frame issues as a collaborative quest

Negotiating Principles

from "Getting to Yes", by Fisher, R, and Urey. W., the Harvard Negotiation Project

Set the tone tone early, offset any bad rumors, be candid.
Utilize "human factors" and be open about feelings and motives: this will enhance trust.
Avoid presenting too many issues, highlight the strongest ones.
Avoid deadlines, lessening the chance for needless concessions.
Summarize frequently: this enhances understanding.
Present arguments calmly, without personalization, and make sure they are logically supported.
Avoid use of personal opinions in arguments.
Avoid ultimatums and other forms of non-negotiable demands.
Admit, when appropriate, the validity of the other party's arguments.

Bonus Negotiating Tips from the Murphy's Law Complete

Eddie's First Law of Business:

Never conduct negotiations before 10 a.m. or after 4 p.m. Before 10 you appear too anxious, and after 4 they think you're desperate.

Truman's Law:

If you cannot convince them, confuse them

Helga's Rule:

Say no, then negotiate.