What are Negotiation Techniques?
The negotiation techniques you use can have an enormous impact on the success (or failure) of your negotiation.
You’ve mastered the basics of good negotiation techniques: you prepare thoroughly, take time to build rapport, make the first offer when you have a strong sense of the bargaining range, and search for wise tradeoffs across issues to create value.
Yet, even experienced negotiators often make the mistake of treating important talks as a win-lose negotiation. Overlooking effective win-win negotiation techniques, they focus on trying to claim as much value as they can without trying to create new sources of value.
This is one reason that improving your negotiation skills can only take you so far – eventually, you need to assess your behavior preferences as a negotiator. Being able to predict how you will behave in a given bargaining scenario will help you achieve better outcomes at the bargaining table and refine your negotiation techniques.
In any given negotiation, your bargaining style has a stable component that comes from your disposition and personality; some negotiators are naturally more cooperative than others, for instance. Yet your negotiation styles will also fluctuate depending on the situation and the person across the bargaining table. For example, you’re more likely to focus on maximizing joint gain when you’re negotiating a joint venture with a trusted colleague than when you’re battling with other department heads over the annual budget.
One approach that works well is known as MESO. MESO (multiple equivalent simultaneous offers) negotiation techniques create value at the bargaining table by identifying multiple proposals of equal value and presenting them to your counterpart simultaneously. By making tradeoffs across issues, parties can obtain greater value on the issues that are most important to them.
To learn more about successful negotiation techniques, you can download a complimentary copy of our special report, Dealmaking: Secrets of Successful Dealmaking in Business Negotiations, right now!
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