Having a good knowledge of the players and the positions they are going to take in any negotiation sets you up for success. In this video, learn how to consider your opponents' desires.
- Having a good knowledge of the players and the positions … they are going to take in any negotiation … is going to set you up for success. … There are four things you should consider … about your opponent. … First, who's involved in the negotiation … and who ultimately makes the deal? … By looking at all the parties … who are going to have a say, … you'll have a better understanding … of what they want and what's important to them. … Second, what are the must haves, … the want to haves and the nice to haves? … If you can list out all the things … the other party wants to get out of the deal … and understand what's most important to them … and what's least important, … it can inform your ultimate negotiating strategy. … Third, what's your desired outcome from their perspective, … and what happens if there's no deal? … The other party has goals. … You have to lay out what you think those goals are, … and also understand if a deal goes away, … how are they going to react? … Last, what are the alternatives to the deal? …
- 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.