Quick Answer: What Are The Seven Basics Of Negotiating?

What are the basic principles of negotiation?

7 principles for effective negotiationsKnow what are you trying to accomplish.

Develop a game plan before negotiations start.

Study and understand your counterpart.

Work towards a win-win.

Avoid negotiating with yourself.

React strongly to an untrustworthy party at the negotiating table.

Remember that it takes two parties to negotiate or renegotiate a deal..

What are 5 rules of negotiation?

1) SHUT UP and Listen :2) Be willing to Walk Away.3) Shift the Focus Light.4) Do Not take it Personally.5) Do Your Homework.

What are the 4 most important elements of negotiation?

Another view of negotiation comprises 4 elements:Strategy,Process,Tools, and.Tactics.

How do you start a negotiation?

How to start a negotiation: Begin as you mean to continueGet a sounding board, work through the issues, and practice what you will say.Don’t be afraid. Use the facts you have—or gather those you do not—and push through. … Take stock of the other side’s perspective and needs. Think of them as your “partner” in getting the deal accomplished. … Prepare your negotiation partner.

What is an effective negotiation?

Negotiation is a process where two or more parties with different needs and goals discuss an issue to find a mutually acceptable solution. Good negotiations contribute significantly to business success, as they: … help you build better relationships.

What are the factors of negotiation?

5 key factors to successful negotiation with a customerPower. Negotiations can easily turn into arguments, so when things get fierce, don’t expect satisfactory results. … Concession. Successful negotiation isn’t about compromise, but about effective communication resulting in an agreement that both parties or all parties are satisfied with. … Leverage. … Resources. … Attitude.

What are the seven elements of negotiation?

Seven Elements of NegotiationsInterests. Interests are “the fundamental drivers of negotiation,” according to Patton—our basic needs, wants, and motivations. … Legitimacy. … Relationships. … Alternatives and BATNA. … Options. … Commitments. … Communication.

What are good negotiation skills?

These skills include:Effective verbal communication. See our pages: Verbal Communication and Effective Speaking.Listening. … Reducing misunderstandings is a key part of effective negotiation. … Rapport Building. … Problem Solving. … Decision Making. … Assertiveness. … Dealing with Difficult Situations.

What are the six stages of negotiation?

The Six Stage Negotiation ProcessStage 1 – Statement of Intent. … Stage 2 – Preparation for Negotiations. … Stage 3 – Negotiation of a Framework Agreement. … Stage 4 – Negotiation of an Agreement in Principle (AIP) … Stage 5 – Negotiation to Finalize a Treaty. … Stage 6 – Implementation of a Treaty.

What are the best negotiation techniques?

5 Good Negotiation TechniquesReframe anxiety as excitement. … Anchor the discussion with a draft agreement. … Draw on the power of silence. … Ask for advice. … Put a fair offer to the test with final-offer arbitration.

How do you master negotiation skills?

In this article, I’ve narrowed that list of 10 skills down to just the five most important for you to start with.Get Clear on Your Negotiating Goals. … Determine Your Core Negotiation Strategy. … Understand Your Negotiation Signature. … Build Motivation. … Play the Reluctant Party.

How do you negotiate politely?

Simply ask what the other side wants. Ask why they want it….Do:Frame the negotiations as a problem-solving challenge.Take the time to make small talk. It’ll build connections you can leverage later on.Stress the areas on which you agree, and use words like “we” to signal you are invested in the relationship.

What is the golden rule of negotiation?

The “Golden Rule” of Negotiating: never let a negotiation come down to one issue… ever! Why? Because, by definition there is a winner and a loser. Unfortunately, a common habitual tendency is to offer healthy discounts when a competitive price is the right price.

What are the 3 phases of negotiation?

The three phases of a negotiation are:• Phase One – Exchanging Information.• Phase Two – Bargaining.• Phase Three – Closing.More items…•