Three final key areas to consider:
Can you analyse the balance of power?
Suppose you are negotiating with a prospective Customer. It’s easy to assume that the power lies with your potential User. And some of it does – they have the final say on whether to spend their money with you. But, this doesn’t mean that they hold all the power. Consider, for example, how much they need your products or services – where else might they gain what they need? Equally, if many of their competitors use you, do they really not want to enjoy the same advantages or services they gain?
The above is one source of power in a negotiation – and can be summed up as “who needs the deal more?”. However, there is another power source that takes its place at the negotiation table. And that’s YOU. Often called “internal power” it’s about how confident you feel, your level of confidence and self-esteem etc. And no-one else can affect these sources of power unless you allow them to. Equally, what you say or do might affect the internal power of the other party to your negotiation!
Do you actually know when you’ve won?
The old sports saying: “The game ain’t over until the fat lady sings” (derived from the endings of many operas!), doesn’t exactly apply to a negotiation In these situations, it’s unlikely that either side will ever gain a total victory (in fact, if this happens, you have not been involved in a negotiation). Therefore, you need to know when you’ve “won”. In other words, the point at which you’ve achieved the best deal you are going to get. Having set your objectives (covered earlier) – you know the borders within which you can negotiate an agreement. Therefore, as the situation progresses, you can measure how acceptable proposals etc. are by keeping these in mind Are you ready to enjoy negotiating?
Having effectively prepared, and then understanding that a negotiation isn’t a battle to be won, gives you a better chance of relaxing and finding the process more enjoyable. Think of your favorite sports stars. They will perform best when in a relaxed - but alert - frame of mind; their thoughts uncluttered by the "negatives" that get in the way of top performance. And one key way they achieve this is thru careful, professional preparation; by attending to the details that give them the confidence to perform. Feel free to copy them!
Negotiation - Preparation - Part Three - To learn more about this author, visit Gordon Veniard's Website.
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