A partyÕs basic needs, wants, and motivations that are potentially at stake in a negotiation. The measure of success in a negotiation is how well your interests are met. (David A. Lax and James K. Sebenius, 3-D Negotiation [Harvard Business School Press, 2006], 69)
The following items are tagged interests.
Why should the people you’re supposed to lead follow you?
If you believe that your charisma, your exalted office, or your vision is reason enough, you’re in trouble.
While these qualities may affect how others relate to you, the unvarnished truth is that other people will follow you when they judge it’s in their best interest to do so.
Although forecasting errors are extremely common, you can minimize their impact on your negotiations by following these three guidelines.
When the poet Walt Whitman wrote, “Surely, whoever speaks to me in the right voice, him or her shall I follow,” he conveyed the notion that persuasive communication is fundamental to effective leadership. Whitman’s words also underscore the importance of shaping leadership communications to meet individual concerns, interests, and styles.
When deciding how to communicate, recognize that the medium you choose reveals something about you and your relationship with the person you are trying to lead.
Relationships are as important to leadership as they are to negotiation.
A relationship is a perceived connection that can be psychological, economic, political, or personal; whatever its basis, wise leaders, like skilled negotiators, work to foster a strong connection because effective leadership depends on it. How you negotiate your relationships with your counterpart not only determines your success at the bargaining table but also your effectiveness as a leader.
Even with these precautions in place, there will be times when one side demands renegotiation of a deal. Here are some guidelines on how to proceed.
To your negotiation toolkit, consider adding a new skill: mind mapping.
In a recent article in the Wall Street Journal, Zack Anchors describes how financial advisor Rob O’Dell of Wheaton Wealth Partners of Wheaton, Illinois used the unconventional technique in an attempt to help a client negotiate the sale of his shares of the family business to his younger brother, who hoped to pass the business on to his children.
On May 19, Internet company Yahoo announced that it was purchasing the blogging service Tumblr for about $1.1 billion in cash. The acquisition could put a fresh face on the aging Internet company and provide it with a profitable revenue source—or it could turn out to be another instance of the Web pioneer overpaying for a start-up and failing to nurture it, as was the case after Yahoo bought Flickr and GeoCities.
Our DEAL approach allows you to respond to threats without conveying weakness or escalating the conflict, redirecting talks toward a focus on each other’s interests.
According to Dacher Keltner of the University of California at Berkeley and his colleagues , power affects two primary neurological regulators of behavior: the behavioral approach system and the behavioral inhibition system. Powerful individuals demonstrate “approach related” behaviors such as expressing positive moods and searching for rewards in their environment.
Like other cognitive biases, competitive expectations can be insidious. Fortunately, there are several steps you can take to forestall their negative consequences.
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