It's critical to think through how you feel on the other side of the negotiation table. In this video, learn what is involved when considering how emotions and fairness affect a negotiation.
- Two things you have to understand … as you enter any negotiation … are the impacts of emotions and fairness. … I know we like to think … that negotiations are purely logical, … but they're emotional, and you have to understand … how perceptions of fairness, collaboration, … and even being taken advantage of can impact … negotiating stances and approaches … both for you as well as for your opponent. … Imagine we're walking down the street together … and I find $10 on the ground. … I pick it up and I decide I'm going to give you … some of that money because you're walking with me. … I want you to ask yourself how you feel right now … if I say "I'm going to give you nine of these $10". … How do you feel if I say … "I'm going to give you 18 cents of these $10"? … How about if I give you six of the $10? … Fairness and emotions impact your willingness to negotiate. … Even at 18 cents, you should be happy … because it's 18 cents more than you had … before I found the money on the ground, but it feels bad. …
- 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.