Negotiation Principles

Negotiation Checklist

Before starting negotiations:
• know yourself – what are your strengths and weaknesses
• know what you want
• know what you will accept
• anticipate the other party’s starting position and final position
• prepare your arguments on each point that may be raised
• work out how you can add value for them – what can you give them?
• try to work out a zone of possible agreement before you start
• identify the style of negotiation that you will use
• consider the needs of the individuals and the company
• consider your options in the event of negotiations failing
• allow yourself plenty of time for the negotiations
• put the other party under time pressure if possible
• focus on the outcome, not the problems

During the negotiations:
• be fair but firm with the other party
• understand the personality of the other party and build a rapport
• control your emotions
• be prepared to take time out
• never make a concession without asking for a concession
• determine the likely end point of the negotiations – the settlement range
• work out how to end up on the better side of the settlement range
• know when you have got a good deal
• always remember it should be a win-win result; allow them to save face
• enjoy the process – you will end up with a better deal