Negotiation Strategies

PREPARATION: FUNDAMENTAL TO NEGOTIATIONS?

Most negotiators greatly underestimate the amount of time required to effectively prepare for and research the background to any business negotiation. The old cliché says ‘failing to prepare means preparing to fail’. We should spend at least twice as much time preparing for business negotiations as we expect to be engaging in actual negotiations. E.g. if we estimate that we are going to spend 1 hour negotiating with our counterparty, we should then consider spending approximately 2 hours preparing for the engagement. The better our preparation, the greater the chances of achieving superior outcomes in our business negotiations.

Negotiation preparation is the most important part of business negotiation best practice and is specifically critical for complex, multi issue, multi party negotiations. Let’s then analyse what is important to be considered in support of our efforts and decision making processes in business negotiations.

1. Understanding the context. Read the rest of this entry »

Entrepreneurs know that understanding common negotiation tactics is good business. Having a good understanding of the strategies that can be used by you or on you is necessary to becoming a skilled negotiator.

Negotiation is usually a part of any deal or transaction and it must be a strong part of your game. In this article we present some ideas that will give you an opportunity to look at negotiation in an entirely new way and will give you a better basis for playing the negotiation game. It will help you work on your business psychology and to become a more skilled entrepreneur and negotiator.

Everything’s negotiable Read the rest of this entry »

What follows are some fundamental rules that we suggest you follow if you want to be successful in buying a used car “cheap” and reducing your risk.

Rule #1

Do you Homework Read the rest of this entry »