Negotiation is a dialogue between two or more people or parties intended to reach a beneficial outcome over one or more issues where a conflict exists with respect to at least one of these issues.
Negotiation is an interaction and process between entities who aspire to agree on matters of mutual interest while optimizing their individual utilities.
Prepare Thoroughly
Lawyers are taught to prepare thoroughly for any negotiation. If you are going into a conversation asking for something, you want to be able to back up your requests or demands.
You also want to know your position clearly. If you fail to prepare, you’re preparing to fail.
Plan the Negotiation
“Planning the negotiation” means deciding beforehand with the other side what the format of the negotiation will be.
For example, you may agree that you will go first, and discuss your position, goals, what you have to offer, and your perspective on the situation. Then the other side will go. Both of you can agree not to interrupt each other.
Empathize Sincerely
When the other side is speaking, use that opportunity to listen intently and try to understand his perspective or position.
Among other things, this will help you understand where the two of you may overlap in goals, where there may be room to push, or where you differ irreconcilably such that there may be a hold-out.
Assert Respectfully
When it is your turn to speak, use it as an opportunity to put forth your thoughts and perspectives in a clear way.
Do not use it as an opportunity to tear down the perspectives or views of the other side. Your goal is to convey to the other side what you expect, what your position is, and what your view of the situation is.
Implement the Solution
Once you have agreed upon a compromise, solution, or deal, the next step is to commit on how that deal is to be implemented.
This means knowing what to do next to make your agreement a reality.