Framing (the “what”): How do you define the negotiation? For instance, is it a battle, partnership, or problem to be solved together?. Engaging (the “who”): How do you engage with each other? Is this a friendly conversation, or do you fall into enemy territory?. Yet, before discussions even begin, there are three levers that determine how the bargaining stage will play out: 
The second step, bargaining, is what most often comes to mind when thinking about negotiation. Preparing in advance can improve your confidence, give you clear goals to work toward, and provide a strategy to base your approach on. In Negotiation Mastery, Wheeler recommends choosing a scenario that’s unlikely but not impossible something that has a 10 percent chance of occurring. It’s critical to give the negotiation a potential ceiling to gauge offers.
Stretch goal: The best-case scenario for the negotiation’s outcome. At what point would the BATNA provide more value than a possible negotiated outcome? That’s your walkaway. Use your BATNA to determine your walkaway. The line where ending negotiations is better than making a bad deal. In Negotiation Mastery, Wheeler gives the example that if you can't negotiate down a new car’s price, your BATNA may be to have your old car repaired. To determine your BATNA, consider alternatives that provide some of the value you aim to gain from the negotiation. Best alternative to a negotiated agreement (BATNA): Your ideal course of action if an agreement isn’t possible. What do you each want and need? Where might you be willing to compromise? To establish the ZOPA, think about your perspective and your counterpart’s. Zone of possible agreement (ZOPA) : The range in which you and other parties can find common ground. There are several things to define, including your: Preparationīefore entering a negotiation, you need to prepare. DOWNLOAD NOWĤ Steps of the Negotiation Process 1. Here's an overview of the negotiation process’s four steps and how to gain the skills you need to negotiate successfully.įree E-Book: How to Become a More Effective LeaderĪccess your free e-book today. It also-in some cases-allows you to resolve small differences before they escalate into big conflicts.” 
It allows you to expand the pie create value, so you get more benefits from the agreements that you do reach. “It allows you to reach agreements that might otherwise slip through your fingers.
“Enhancing your negotiation skills has an enormous payoff,” says Harvard Business School Professor Michael Wheeler in the online course Negotiation Mastery. Negotiation is part of daily life-whether buying a car, leasing property, aiming for higher compensation, raising capital for a startup, or making difficult decisions as an organizational leader.
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