An Essential Part of Busines: Negotiation Skill | Ryan Business Tips ...

October 14, 2012 ? Lily ?

Effective negotiation is an essential part of business, and there?s no substitute for experience, so the only way to get better at negotiating is to do it, with an eye to learning and improving. Of course, you can and should do your homework before every negotiation: research, rehearse, predict scenarios.

The approach focuses on tactics and techniques aimed at faster, better negotiation.

• If you don?t need to negotiate, don?t. If a handshake or deal memo will suffice, then skip the lengthy contract.
• Know what you want, what terms you will accept and your best alternative to the agreement before you sit down at the bargaining table.
• Find out about the other people sitting at the table.
• You negotiate with a person, not a company. Allow it to be personal, and modify your approach depending on the personality sitting across from you. If she?s a detail hound, then be prepared for the negotiation rumba. If I?s a bully, find things to concede that appear to be bigger concessions than they really are.
• Don?t rush into a negotiation. And once you?re sitting down, don?t rush through the agreement.
• Stay focused on your ideal outcome, and how to achieve it with the minimum time and fuss.
• Delegate and save time. If possible, agree on important terms quickly, then hand over the details to someone else.
• Be flexible. If there?s an impasse, try to find creative alternatives.
• Review. After a negotiation, think about what went well and what could have gone better.
• Make rules. Write down a list of rules and reminders so that it goes better next time.

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Source: http://www.actornathanryan.com/2012/10/an-essential-part-of-busines-negotiation-skill/

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