HOW NOT TO END A NEGOTIATION EARLY

If you are about to participate in a business or property negotiation, here are some suggestions about proper strategies. 1) Never go into any negotiation unprepared. Make sure even if the subject under discussion is not complex that you have made an objective assessment of your own financial strengths, weaknesses and operating style. 2) Research […]

ADVANTAGES OF PRE-NEGOTIATION MEETINGS

When you pursue a complex contract negotiation with one or more parties, here are some tips that may be useful. 1) Scheduling a preliminary meeting can afford an opportunity to get to know the other party(ies) at a social level. This kind of meeting can be useful to determine whether your communication and operating styles […]

TIME TO DETERMINE BATNA

If you are about to enter into a negotiation, or mediation, you may wonder when the time is right to determine ‘BATNA’. The best answer is that one single moment in time may not be sufficient. When you are involved in a negotiation or mediation, the eventual outcome will depend on your advance preparation. As […]

NON VERBAL NEGOTIATION

When you are negotiating with another party, not all of your skills are based on verbal communication. Messaging can also be non-verbal. The image posted above lists verbal, and non-verbal communication and assertiveness. Non-verbal communication is said to account for 70% or more of human communication. This includes everything from lolling your head, to rolling […]

‘BATNA’ AND ‘ZOPA’

If you are wondering whether BATNA and ZOPA are connected, the answer is yes. Here’s how. BATNA and ZOPA are directly connected concepts. ZOPA tells each party to a negotiation or mediation the effective zone for workable options. These is no point to overshooting the mark by considering unworkable proposals. BATNA tells you whether your […]

TIME TO DETERMINE ‘ZOPA’

If you are about to begin a negotiation or mediation, you may wonder when the timing is right to determine your ‘ZOPA’ (zone for possible agreement). The simple answer is that there is no single time to work out your ZOPA. As you prepare before beginning any formal meetings, you gather new information about the […]

THE IMPORTANCE OF ACTIVE LISTENING

If you are considering  engaging in negotiation or mediation, one of the skills you need to factor in, is the skill of ‘active listening’. 1) All too often when people want their way,  they fall into two possible traps. The first is a reluctance to listen and consider the other party’s needs. 2) The second […]

‘ZOPA’

If you’re involved either in a negotiation or a mediation, you need to understand the concept of ‘ZOPA’. ZOPA is an acronym that stands for ‘zone of possible agreement’. Any negotiation or mediation is at least two sided. Of course, there may be more than two parties. If so, the zone for possible agreement shrinks […]

IMPORTANCE OF ‘WIN-WIN’

When involved in any negotiation, there are four possible outcomes. Here they are and the reasons for them. You are so successful at negotiating an agreement that you ‘win’. If the other party negotiates poorly or is the victim of a resource imbalance (ie a power imbalance), he will lose. Reversing these roles, assuming the […]

PREPARING FOR NEGOTIATION

If you are about to negotiate a transaction, and are eager to meet with the other party, here are some tips that you should consider. Never just launch into any negotiation because you feel pressured to make a deal. Preparation is always critical to success. Ask yourself what you really know about the other party […]