6. Know when to compromise: I always advise clients to identify at least three compromises they are willing to make before entering a negotiation. These compromises should be used when the discussion stalls. By offering a compromise you are opening a new avenue of discussion. Please keep in mind the concessions presented and refer back to them when you feel the other party is not reciprocating. It is okay to state, “I just want to summarize what has been discussed and review the concessions brought to the table. In order to keep the discussion moving, we need to ensure everyone here is fully vested by providing equal participation and suggestions.”
7. Ask for it: So many people go into a negotiation and forget their purpose. Don’t engage in a negotiation unless you know what you want from it. Make sure your communication focuses on what you are seeking from all parties and ensure the other parties do the same.
8. Know when to call it: It is okay to walk away from a negotiation when you feel your efforts aren’t being valued. But before walking make sure you state your reasons for doing so.
9. Don’t take it personally: Remember that negotiation is part of everyday life; we win some and we lose some. Just make sure you learn from each negotiation and work on implementing the lessons learned in future discussions.
10. Write it down & sign it: How many times have you reached an agreement only to forget, a few months later, what exactly was agreed upon? If you take the time to negotiate, take the time to formally document the agreement reached.
Of course we all dread, and tire from constantly playing the negotiation game. But next time we find ourselves mired down with these feelings it would serve us well to recall the quote from negotiation expert Dr. Chester L. Karrass… “In business, you don’t get what you deserve, you get what you negotiate.”
ABOUT THE AUTHOR:
Elizabeth Suarez is a highly regarded comprehensive strategist, facilitator, mediator, trainer and coach as well as an ADR and Leadership Studies Faculty at University of Denver. A native of Puerto Rico, she earned a BS in Chemical Engineering from Cornell University and an MBA from The Wharton School of Business, University of Pennsylvania. In addition, she completed the Executive Management Program at the John F. Kennedy School of Government at Harvard University and is a graduate of the prestigious National Hispana Leadership Institute (NHLI) program as well as the Center for Creative Leadership and Leadership Denver.
For more information about Elizabeth’s offerings, clients and what people are saying, visit http://www.elizabethsuarez.com/.
