Ten Commandments of Negotiation

Negotiation has been described as an art and a science. The art portion of the equation means that successful negotiation is partly a matter of judgment, instinct, and intuition, with improvisation when necessary. The science portion means that there are fundamental principles to remember in any negotiation. This article outlines some of them.

I.   Prioritize your goals before the negotiation begins

• First priority, essential (non-negotiable)
• Second priority, important (negotiable but preferred)
• Third priority, desirable (adds value)

II.  Pre-plan your counter-moves and explanatory rationale (using objective data where possible) in anticipation of the other party’s positions, strategy, tactics, and offers

III. Establish early an open, positive, cooperative working relationship with the other party

IV.  Start every negotiation conversation by listening to the other party’s wants, needs, concerns, goals, and interests, particularly shared goals and interests

V.   Ask open-ended questions in order to better understand the other party’s perspectives and to learn their reasons behind any differences of opinion so that you can effectively address them on the merits

VI.  Recognize emotions and non-verbal communication in addition to the verbal content

VII. Advocate your points effectively without becoming overly aggressive or conciliatory; negotiation is about compromise not capitulation

VIII. Compare all offers with the alternatives: BATNA, WATNA, and LATNA

IX.  Brainstorm jointly or separately various creative ideas to bridge gaps

X.  Keep a flexible, open mind to all possibilities while avoiding ultimatums and bottom lines

We will discuss come of these concepts in greater detail in future articles. In the meantime, remember that patience is a virtue in achieving your strategic goals, especially in negotiation.