SUCCESFUL NEGOTIATIONS

The four steps for negotiating

 Prepare- plan your negotiation strategy

 Negotiate- use key tactics
 Close- create a contact
 Perform and evaluate- finish the endgame

Should I negotiate?

 Decide whether you should negotiate or not

Decide if a negotiation is position-based or interest-based

 Basically it is position based – high price low price

 Identifying the interest might lead to real win-win situation

Decide if a negotiation is dispute-resolution or deal-making

 Dispute resolution side – try to think of opportunities for an interest based

negotiations
 Dispute resolution involve six steps- avoidance, negotiation, mediation,
arbitration, litigation, power
 Number one, have you completed all of your fact finding, have you
presented all possible facts to the other side that might change their
perspective. Then said yes, we have completely explored facts. Second, have
you explored all of your bad options.

Complete a negotiation analysis, including: setting a reservation price and stretch

goal, identifying alternatives to a deal, and finding the zone of potential agreement

Use a decision tree to determine your BATNA

BATNA – Best Alternative To a Negotiated Argument

Far stretch goal might make you lose your credibility

ZOPA – Zone of Potential Agreement

(5) Conduct cross-cultural negotiations

(6) Resolve ethical issues in negotiations

(7) Decide if you should use an agent in a negotiation