TOP 5 TIPS FOR NEGOTIATION PREPARATION 

 

1. Make sure you set aside time to prepare.

Even if it is only 10 minutes between receiving a phone call and having to return it, some preparation is better than none.

2. Think about an agenda for the negotiation.

What are the issues on the table? It may be valuable to set the agenda prior to the meeting commencing so that both sides can prepare effectively.

3. If you are about to negotiate on a set piece issue think about taking along a team with you.

The team should be prepared effectively and have set roles. A well drilled team creates an advantage when the meeting begins.

4. Practice your response.

In your team think about how you will respond to the various 'plays' that the other side might make.  Spend time developing 'what if' responses to how the other side may play their agenda.

5. Test any contentious issues with stakeholders.

Make sure you have the authority and backing to take any tough decisions you may need to take.

Latest Blog:

Who is Going to Pick the Fruit?

It’s amazing how many people go into negotiations with no clear idea about their bottom line. “We’ll see how it goes,” seems to be the rather naive thought and of course they leave themselves open to the risk of a really poor and unprofitable deal at the end of it. It is empowering to know your bottom line, especially when you have internal agreement at senior level. Think about it: the other side are aggressively demanding that you improve your terms, but you know that what they are asking for is beyond your bottom line.

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