5 Keys to Work Through the Negotiation Process
As a leader, one of the most important professional development tools you will want in your communication toolbox is negotiation. This particular skill comes in handy in dealing with hiring and retention, contracting and sales, and creating a sustainable strategy for your business.
As children, if we don’t like the way the game is being played, we take our ball and go home. If we do this enough times, we will find there isn’t anyone willing to play with us anymore. Likewise, in the business world, if we are unable to work well with others, we will drive away our A-team players and top clients. We must be willing to acknowledge differences and begin negotiation.
One of the most important professional development tools you will want in your communication toolbox is negotiation
In communicating a negotiation, you show you are willing to compromise and work through differences until an agreement it reached; hopefully avoiding arguments or even legal disputes.
Here are 5 keys to work through the negotiation process
Acknowledge the disagreement and strive to work toward a win-win for all parties. Create trust with the other party by accepting the fact that even though there is a difference you are willing to work toward an arrangement that is tolerable for both camps.
Ask good questions to identify the top wants of each party. Clarify the goals. It is important to know what each party is trying to achieve. Once those goals are established you can negotiate inward from there.
Be patient. Clarification is of each parties’ goals may take time. When negotiating to make each side feel they are taking home a win you must make sure there are no misunderstandings and no verbiage is misconstrued.
Come to an agreement. It is okay to have to give in a little if it is for the greater good of the negotiation. Make the decision. And then move on with it.
Implementation. Create a timeline of execution for the agreement. Each party should stick to the timeline and come out on the other side with heads held high and able to shake hands without discord.
In business, relationships are vital. In maintaining these relationships, we must be able to negotiate towards a compromise while remaining fair and seeking mutual benefits. How are you building your professional development skill of negotiation to better your organization?
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