How to Become a Better Negotiator?

In this blog post, I will examine the most critical negotiation elements and advise how to become a better negotiator. I suggest my article for people entering the world of complex (like software or construction) negotiations. However, those who are already practicing it might also find some useful ideas in the post.

Prepare

The central part of any negotiation does not happen in the meeting room. It happens before. Preparation is the number one thing you should improve and practice before every negotiation. It would help if you asked the most important questions before you start the meeting, like:

• Who will be there?

• What are their roles?

• What are their priorities?

• Who will be with you? (technical expert, accounting expert, etc.)

• What are your priorities?

And many other questions. Try to find the most important and relevant items of the negotiation.

Once you have the answers, stop and take a look at them, then attempt to build up the negotiation scenario(s). What are the opening positions? What are the desired outcomes for you and your business partner? Try to roleplay the negotiation with your colleague or try to play through your head scenarios. Endeavor to avoid talks you haven't had time to prepare. Trust me. It is better to delay a meeting than pay the emotional, financial, and time costs of a badly ended one.

Listen

Once you have started the negotiation and introduced yourselves to each other with your business partner, the next step is to ask and listen to their needs and requests. Focus on understanding their position and write down as much relevant information as you can. Think about the subject(s) of the negotiation as a large package with many goods in it. Therefore you always need notes about those goods and always confirm the related requirements with your business partner. Undiscussed deadlines, functionalities are not just headaches for you, but could easily ruin your business partner's relationship and risk the trade outcome, so be aware and try to avoid that. So again: Make sure all your partner's needs are in the package before you step forward.

Trade

If you have done well, you have your partner's well-detailed requirements in front of you. It has many goods and details about those goods, so it is time to pick the ones you can quickly deliver and avoid the ones you cannot. The best parts are where you have to invest less, but worth a lot for your business partner. On the other hand, try to find the ones that cost too much or are too risky for you and endeavor to avoid or replace them with something else. Strive to put together a "win-win" package that meets with both parties' needs. I think this is the most enjoyable and creative part of the negotiation but needs the most preparation, which is what you hopefully did, as discussed in the preparation part.

Look for the variables.

Sometimes preparation is not enough, and you are stuck. What to do now? Do not panic! The first rule is: step back and look for the variables.

There is always something you can change like deadlines, price, functionality, or even items of the package, and in return, remove a part that you cannot or struggle to deliver. As a worst-case scenario, you can say no to the deal. Sometimes it is better to say no than rush into an undeliverable agreement, lose money, staff, reputation, etc. Be brave and say no if it is necessary.

In conclusion, all of these elements are important to become a better negotiator, but real excellence comes with time and practice. If you ended up with some unfulfilling deal, don't give up it will become better in time. Becoming a good negotiator is not something that you can achieve overnight.