How To Become An Effective Negotiator?



What is negotiation?

Negotiation can be explained as bargaining (give and take) process between two or more parties (each with its own aims, needs, and viewpoints) seeking to discover a common ground and reach an agreement to settle a matter of mutual concern or resolve a conflict. (Source: http://www.businessdictionary.com/definition/negotiation.) Every single day we are faced with a variety of issues that could be resolved by negotiation. On many occasions we negotiate an agreement without realising that we have negotiated. This is because we do it without even thinking about it. This does not mean that we always negotiate well. We often do not bother to negotiate at all – with sometimes damaging results. A competent negotiator needs a structured approach that is well planned and appropriate foundations laid before trying to reach any form of agreement.

Four stage approach to successful negotiation

STAGE 1: PLAN                                        Preparation is key - Consider and prepare for all important points likely to be covered in the negotiation - information & wants. STAGE 2: LAY FOUNDATIONS               Exchange information – Find out what the other party wants and opportunity to set opening position. STAGE 3: BARGAINING                       Build towards agreement - Explore what might be acceptable or where there might be scope for movement. STAGE 4: COMPLETE Closing & commitment – finalise agreement and formalized in a way that makes it difficult for either party to back out or change their commitment. It is surprising how often people do not agree on this as they reflect on the detail, and returning to bargaining may be necessary.

What questions do you have?

We are happy to help. Please post your comment below or call Lisa Byrne, Audit Manager at Cooney Carey, on 01 677 9000. Alternatively, send her an email: lbyrne@cooneycarey.ie 

If this article helped you, please share it with other businesses.