GROW YOUR NEGOTIATION SKILLS

Negotiation is a give and take process between two or more parties (each with its own aims, needs and viewpoints)

MYTHS AROUND NEGOTIATION

·        There must be a winner and a loser

·        Negotiation appears to involve conflict

·        Negotiation is not an option

·        Only cheap, petty people haggle

·        A good negotiator is manipulative

THE RULE OF THUMB

Let the situation determine the strategy and not the strategy the situation.

THE NEGOTIATION PROCESS

1.     Prepare

2.     Discuss

3.     Propose

4.     Bargain

In Negotiation, the Acronym BATNA is applied.

BATNA stands for Best Alternative To Negotiated Agreement

·        When a proposal is better than your BATNA, you accept it.

·        When a proposal is worse than your BATNA, you reject it.

TYPES OF POWER

1.     Power of commitment

2.     Power of Expertise

3.     Power of Knowledge of need(s) of the other party

4.     Power of Empathy

5.     Power of Rewarding and punishing

6.     Power of investment

Emotions to be aware of in negotiation are: Greed, Fear, Anger and Desire. You have to be very sensitive when these emotion displays.

Remember Life itself is a Negotiation, so negotiate rightly.