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How to Negotiate

Updated: Apr 24

Do the Work Before the Negotiation Begins

  1. Think about the position that the other party is in and what priorities and interests they will be coming to the table with “What are they trying to accomplish, and what will they do/not do to achieve it?” ● Why do they want what they are negotiating for?

  2. Set your reservation price, define your BATNA “If we cannot agree, what is my other option?”

  3. Brainstorm ways to move from a distributive negotiation to an integrative negotiation “Where can I find value in this discussion to turn this into a win-win scenario?” ● Are there any possible alternatives? ● Are there any standards that must be met at a minimum?

Share Information, Build Trust and Ask Questions ● Provide information to the other side, which can include your priorities in the negotiation, but never reveal your reservation price ○ Beware of bluffing; it may impact your final outcome ● Head into a negotiation assuming trustworthiness ○ Schmoozing or small-talk can build trust as long as it is genuine ● Ask questions in return while you are sharing information and building trust; this will help you determine what matters to the other side ○ Do not ask anything that you would not answer ○ Beware of using their answers against them later on in the discussion

Start Strong and Add Issues to the Table ● Plant an anchor at the beginning of the negotiation ● Adding additional topics or “issues” to the discussion can expand “the pie” and create value. Creating value makes it more likely that both parties will leave the negotiation satisfied with the outcome (vs. a distributive, “splitting

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