Adopting an Implementation Mindset
The reservation point in a negotiation is vital for the team to be aware of before any negotiation with the counterparty can commence. If the team is not on the same page, various nuances can interfere with the strategy, which can in turn create problems in the negotiation. Aside from knowing the bottom line, the team also needs to adopt an implementation mindset, which will help them to know what signs to look for if it's time to walk away.
Create a Strategic Framework
In any industry, including politics and military tactics, there is a framework that outlines the processes that will be followed. This strategic framework is a list of choices that the team must make for the negotiation purpose to enable them to achieve the desired outcome. This list includes:
Options for opening negotiations. Who starts the negotiation and how hardball it is will depend on the counterparty and the type of business. Different tactics should be adopted for different businesses.
The negotiables. Have a clearly defined list of negotiables that the team is aware of and to what point these negotiables can be pushed.
The nonnegotiables. The team must know what the nonnegotiables are and how to structure the negotiation around them.
What each team member brings to the table. Each member of the negotiation team will have strengths and their skills should be utilized accordingly.
Possible key areas of discussion. Plan certain focus points and have a few options for entry points for certain discussions.
The strategic framework should be structured enough to provide a good base for the negotiation to process without giving away too much but also be flexible enough for team members to adapt as required. The Weiss strategic framework is a popular guideline used by negotiators.
Begin With the End in Mind
If you look at possible outcomes in the future, whether it's five or ten years down the line, you will gain a different perspective on the negotiation. Many negotiators are deal-minded, meaning that they only focus on signing the deal. What they fail to realize is that maintaining a mutually beneficial relationship and sustaining the deal is actually more important. This is where an implementation mindset comes into play. It's vital for negotiators to think about the end before they worry about the beginning. This creates a competitive advantage and makes you a highly effective negotiator.
The Importance of Looks
One of the important aspects of your negotiation is the contract phase. Once you've determined your negotiables and are ready to present, ensure that your contract is professional. Be sure to compress a PDF online to have an easily accessible file.. This will help to improve the desired outcomes as detail matters in all negotiations.
If you're adept at creating your framework and ensuring that your desired outcomes are aligned with your strategy, you'll be able to negotiate successfully. To gain more experience and practice your implementation mindset, get in touch with your business community and create networking opportunities.
Joining your local chamber of commerce is a great first step.