It's important for you to stop and assess what's going well and what's not as you work towards a deal. In this video, learn how to assess the effectiveness of your negotiation.
- Throughout a negotiation, … you should be assessing what's happening. … Track major negotiating points over time. … See what's a plus or a minus … versus the last round of negotiations. … If you go back to your initial goals … and what the other party's initial goals were, … their must-haves, want-to-haves, nice-to-haves … and also evaluate it for your end, … you can track over time where are you making concessions? … Where's the other party fighting hard for something? … Doing this type of assessment can help you … identify what's really important to them and what's not. … Assessment can help you identify topics that recur … and also areas where they're more willing … to make concessions. … Be very aware of prior offers that you make. … Make sure you have documentation … because the other party can bring them back up later … and use them against you. … Now the good news is you can do the same thing. … But if you're not aware of an offer you make … or an offer, even worse, that somebody on your team makes …
- Explore methods for defining all of your negotiation options.
- Recall how to make concessions when appropriate.
- Select the best negotiation style and strategy.
- Determine the most favorable deal structure.
- Support your anchor position.
- Recognize how to sequence your deals.
- Track negotiation points over time.
- Identify the most common negotiation pitfalls.