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Win-Win Negotiation Techniques

Win-Win Negotiation Techniques

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Published by Junaid Shaukat

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Published by: Junaid Shaukat on Oct 30, 2011
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11/08/2013

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Information is another source of negotiating power. The more you know
about your counterpart, the subject of the negotiation, and your respective
industries, the more power you have. For example:

What does your counterpart really need

? What are his true interests?

What are his psychological and ego needs?

Who are his constituents or stakeholders

? What are their interests?

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NEGOTIATING POWER 95

Who are his competitors

? What competitive pressures is he facing?

What is his

negotiating style? What tactics does he use?

What is his financial situation

? What are his budget constraints?

Does he have any

deadlines or time constraints? What is his business

cycle like?

Are there any relevant trends or changes occurring in his industry

?

Is there anything in his background or track record of interest to you

?

It is easier to gather information before you begin bargaining. Once you
begin talking with your counterpart you may find him reluctant to disclose
much information, and he may be suspicious of your motives. Begin
gathering information as soon as you realise you have an interest that you
will have to negotiate to satisfy.

Let’s say you want to buy a new computer. Most people would simply go to
a dealer, look at a few models, and buy one they think would be suitable.
They may later find that it does not meet their needs or that they paid too
much for it.

A good negotiator would first determine exactly what her needs are. Then
she would research various models that could meet those needs. She would
then compare prices at different dealers for her top two or three choices. A
really good negotiator would even research the dealers to learn about their
business practices and negotiating styles.

It is particularly useful to get information about the other party’s needs and
interests. Understanding the other party and his interests can give you a
tremendous advantage. Find out everything you can about your counterpart,
his company and his needs.

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96 WIN-WIN NEGOTIATIONS

Note that people have many needs, and not all of them are obvious. Do not
overlook psychological or ego needs, which we discussed in Chapter 4.

You can find a lot of valuable information online, in industry directories and
in trade journals. Annual reports and other company publications are full of
useful information. You might also talk to people who have previously dealt
with the person or organisation you will be negotiating with.

You can even talk to other people within your counterpart’s organisation.
When shopping for that new computer, wouldn’t it be useful to speak
candidly with a service technician before you approach a salesman?
Wouldn’t the technician give you valuable information about the pros
and cons of various models, even competitors’ models, that the salesman
would not mention while he is selling to you? That technician would be
so flattered that you asked for his opinion that he would lay it all out for
you!

Information is like gold. Begin gathering information as early as
possible.

With all the information available online, it is easier
than ever to boost your negotiating power.

Fast Fact

The fastest and easiest way for me to increase my
negotiating power is with information.

Aha! Moment

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NEGOTIATING POWER 97

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