10 Basic steps of Effective Negotiation Skills

Author Topic: 10 Basic steps of Effective Negotiation Skills  (Read 808 times)

Offline Ana

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10 Basic steps of Effective Negotiation Skills
« on: June 19, 2013, 08:56:52 PM »
1. Decide on your starting position and your "bottom line," or lowest point you will accept in the deal.

2. Consider the objectives and emotional motivation of the other party.

3. Plan your sequence of proposals and possible counter-proposals. Open at the most you can reasonably ask for as this gives you room to negotiate.

4. Prepare for the meeting by determining your own motives and objectives: Why are you negotiating? What do you expect to gain and why is it important to you? What do you think you will have to offer to achieve this?

5. Be prepared with information, facts, comparable prices or costs, etc. Avoid going into any negotiation and coming across as either uninformed or unreasonably aggressive.

6. If the other party makes the first offer or proposal, this can allow you to gauge your response and set the parameters of the negotiation to your advantage. Though some experts suggest that your proposal be the first one on the table, this tactic can allow the other party to open at a point that is more favorable to you than you may have anticipated.

7. Start by discussing a mutually agreed upon point of the negotiation — something both parties will readily say yes to.

8. When do propose a deal or an offer phrase as "I will do such-and-such for you, and you will do this for me." This establishes a position of confidence and authority.

9. Make your arguments and proposals incrementally and strategically. Avoid going immediately to your lowest point of acceptance, or bottom-line.

10. Know when it is time to close or break off discussion. If the other party is ready to close the deal, and it is acceptable to you, make it easy for them to do as little as possible by having everything ready to sign, etc.
Amena Hasan Ana
Manager, Business Development, Daffodil Group
Special Assistant to Chairman
Daffodil International University
President, Child & Youth Finance International
Co-Leader Google Educators Group
Vice President, Youth for Human Rights International
Email: ana.huq@gmail.com