In today’s complex and competitive world, it’s more important than ever to develop superior negotiation skills that foster strong relationships. Parties may not always reach their desired outcomes, but successful negotiations involve the same basic principles: preparation, persistence, and patience. No matter what industry you’re in, the ability to negotiate effectively is one of the most valuable skills, and it begins with these three principles.
Preparation
Negotiations begin well before you sit down at the table. The difference between a successful and unsuccessful negotiation often lies in the quality of the parties’ preparation. Negotiators often fail to adequately prepare for their discussion, and therefore fail to reach an agreement. During the preparation period, it’s essential to understand the fundamentals of why you are negotiating and what is motivating you and your counterpart. Consider key objectives and priorities for both sides as well as any weaknesses that you hope to improve. You also want to be informed about all parties involved.
The more you know about all sides of the negotiation, the better your chances of finding a good solution. Finally, keep your eye on the prize and know exactly what you hope to gain and how you plan to achieve it. Prepare possible concessions ahead of time, plan for what the other party might say, and determine your BATNA. Over 80% of a negotiation’s outcome is determined in the pre-negotiation phase, highlighting the importance of being properly prepared.
Persistence
Most children are not trained negotiators, yet they often manage to get what they want. Why? Children have a unique ability to persist. They ask you the same questions over and over and in different ways until they break you down and finally get what they want. This same principle can be applied to negotiating. Negotiators who are persistent have the ability to move the needle in their direction because they simply don’t give up. They realize that just because someone says “no” it doesn’t necessarily mean that’s the end of the conversation.
Persistence starts with believing in what you are selling and sharing this enthusiasm with the other party. Speak positive truths and continuously remind yourself and the other party why your product or service is valuable. Ultimately, the ability to persist can lead to long-term success!
Patience
We have all been told at some point to be a little more patient. As it turns out, patience is a key element to a successful negotiation. Patience equals time, and more time may lead to better negotiation outcomes. It takes time to understand what is being offered and the risks that might be involved. With time, you can determine those strengths and weaknesses and make a more informed decision. Patience accomplishes a number of things:
- Gather more information
- Lowers the other party’s expectations
- Leads to concessions
- Allows for realistic assessment
With patience, all parties can take time to resolve their differences and overcome any obstacles.
FAQs
Parties may not always reach their desired outcomes, but successful negotiations involve the same basic principles: preparation, persistence, and patience. No matter what industry you're in, the ability to negotiate effectively is one of the most valuable skills, and it begins with these three principles.
What are the 3 main stages in a negotiation? ›
The Three Stages of a Successful Negotiation
- Stage 1 – Preparation.
- Stage 2 – Devise a Strategy.
- Stage 3 – Negotiate an Agreement.
Preparing, planning, and thinking ahead is crucial to a successful negotiation. The best negotiators enter a discussion with at least one backup plan, but often more is helpful. Consider all possible outcomes, and be prepared for each of these scenarios.
What are 3 guidelines for negotiating? ›
steps for successful negotiation are:
- Separate the people from the problem.
- Focus on interests, not positions.
- Invent options for mutual gain, that is work together to create options that will satisfy both parties.
- Insist on using objective criteria for judging a proposed solution.
Against a backdrop of countless challenges for nonprofit leaders and Board members, strategic planning can sometimes seem like a daunting undertaking. However, if you begin with the 3 P's of Purpose, People, and Process, you can set your organization on a path towards a successful outcome.
What are the 3 P's of conflict? ›
The Three P's of Relationship Conflict: Do You Pick, Project, or Provoke? At the heart of Imago Relationship Therapy is the idea that unresolved wounds of childhood have a way of programming us–patterning us–with an internal blueprint for a partner.
What are the 3 key elements of negotiation? ›
Elements in negotiation
In negotiation, the three key elements are often referred to as "The Three P's": People, Problem, and Process. People: People focus on the individuals involved in the negotiation. It encompasses their personalities, emotions, values, perceptions, and communication styles.
What is the rule of three in negotiation? ›
The Rule of Three is simply getting someone to agree to the same thing three times in the same conversation.
What are the three negotiation strategies? ›
Examples & Countermeasures
| Tactic | Definition |
|---|
| Future Promise | The promise of future gain in exchange for concessions in the moment |
| Threats | Making drastic ultimatums to pressure concession. |
| Expose Competitive Information | Offering up a competitor's prices and/or information in the hopes of eliciting a better deal. |
3. Invent options for mutual gain. Negotiators often settle for the first agreement they reach, relieved to have hit upon an outcome that both sides can live with. In principled negotiation, negotiators devote significant time to brainstorming a wide range of possible options before choosing the best one.
Three key factors to successful negotiation
- Preparation. First, walk around the case to be settled: do a 360° analysis. ...
- Time. First, allow a sufficient amount of time to complete the negotiations. ...
- Communication: Listen first, then speak their language. ...
- Four communication styles. ...
- Conclusion.
The first Golden Rule is essential to success in any negotiation: Information Is Power—So Get It! It's critical to ask questions and get as much relevant information as you can throughout the negotiation process. You need sufficient information to set aggressive, realistic goals and to evaluate the other side's goals.
What is the 3 D approach to negotiation? ›
3D negotiation calls for a continual process of auditing and strategy development across three dimensions: tactics (the first dimension), deal design (the second dimension) and set up (the third dimension).
What are the three pillars of negotiation? ›
This session will discuss the 3 key pillars of negotiations of "time", "information" and "power" including how to apply them to improve the results of negotiations.
What are the three core principles of negotiation? ›
In order to negotiate an effective agreement, it's important to understand the elements of negotiation. The what (issues), why (positions), and how (interests), are three elements present in every negotiation. Together, they provide a basic outline from which your strategy will evolve.
What are the three elements of negotiation? ›
Elements in negotiation
In negotiation, the three key elements are often referred to as "The Three P's": People, Problem, and Process. People: People focus on the individuals involved in the negotiation. It encompasses their personalities, emotions, values, perceptions, and communication styles.
What are the 3 P's of communication strategy? ›
The 3 P's of communication strategy are: Purpose (clarify the goal), Process (outline how to achieve it), and Performance (measure success and adapt as needed).
