It doesn’t matter if you consider yourself to be a natural negotiator understanding the fundamentals of negotiation is vital to improving your performance. Understanding the fundamental concepts like ZOPA and BATNA will help you prepare for negotiations, and increase value, address fairness concerns, and reach an agreement that is beneficial for all parties.
Many times, negotiators fall short of success by narrowly focusing on their own interests. This can lead to the wrong deal for you, but a great one for the other side. Consider the interests of both parties to avoid being narrow-minded. By identifying the various interests of each, you can better understand the issues they face and form a more empathetic view of useful site the situation.
Begin by examining your own interests and the issues at stake in the process. Then, you can determine the needs of the other side by considering why they came to the table in the first place, their motivations behind the decision, and any prior relationship with your company. Knowing about the other party will improve trust and create an enduring foundation for a productive and successful relationship.
Find any concessions you may be willing to make. Bring these options to the table and you’ll be able to close deals faster. However, be careful not to undermine your position or make it appear like you’re playing hardball. It is always best to come up with an outcome that is win-win for everyone, and makes both parties satisfied with the outcome.