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I just about remember , before the dawn of time , training to be a barrister . One module on the course was ' negotiation '. Maybe I wasn ’ t the most attentive of students and I don ’ t recall giving the subject much attention . However , since then , I have grown to discover that the ability to negotiate is not just a critical professional skill but is also a vital life skill .
Negotiation has been defined in numerous ways . One of my favoured definitions is that it is an “ interpersonal decision-making process that is necessary whenever we cannot achieve our objectives single-handedly .”
We all negotiate in our personal lives : which TV programme are we going to watch , where are we going on holiday , who does the school run today and so on . At work , we may have to negotiate with potential clients and with those we report to or those who report into us . As lawyers , we are frequently asked to negotiate on behalf of our clients .
There has been a lot written on this subject ( easy to find if you are interested ) so I won ’ t be able to add a great deal to the discussion
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here . However , for me , there are some key points that will assist you in a negotiation , time after time .
• Some negotiators are ' hard ': often characterised by a coercive , aggressive and / or punitive approach with high opening asks and a lack of willingness to co-operate . ' Soft ' negotiators are often characterised as the opposite . The key is to be neither , or rather a mix of both . Identify what power you
“ Identify what power you have in a negotiation and use it to achieve an acceptable agreement ”
have in a negotiation and use it to achieve an acceptable agreement that will almost inevitably involve co-operating with the other party and will be as much theirs as yours . Make that co-operation a virtue not a chore . Feel free to be nice about it ! If someone likes you they are more likely to give you
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something they may otherwise not have given .
• Listen more than you speak . Make fewer statements about your goals and ask more questions about the other party ’ s goals . The more you learn about the people on the other side , the more you can use it to build empathy and tune your strategy . If you want to reject an offer , maybe instead of saying “ no way ”, ask “ how can I accept it ?”
• Prepare ! Yes , I know this is trite but as with so many things , preparation is really important . What is your walk away point ? How many concessions should you make , should they be in decreasing increments , when should you make them ? Who on the other side is the real decision maker ? Is there a deadline that you can use or manufacture to increase momentum ? Is there a small item you can hold back to sweeten the close ?
You can learn this skill . You need practice and feedback , and a willingness to get it wrong . So , this Christmas , make a wish list and see how far you get !
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e : peterwoodhouse @ stoneking . co . uk t : 01225 326753 w : www . stoneking . co . uk twitter : @ StoneKingLLP |
THE BUSINESS EXCHANGE 2022 21 |