How to open your Negotiations by Derek A. Smith, AKA Dr. Negotiator
Many people have a hard time getting started in their negotiations. This can be a big problem and set the stage for a less than optimum outcome. Here are just a few points I find helpful to keep in mind when I start a negotiation.
1. Never set your initial offer near your final objective. Give yourself some wiggle room to negotiate. It doesn't matter what you are negotiating. When you start any negotiation you must assume the other party will always put their maximum positions on the table first. Equally important is the fact that they probably will not disclose to you the minimum they are willing to accept. Don't be shy about asking for everything you might want and more during a negotiation.
2. Give yourself enough time to negotiate. Before you start make sure you have allowed a realistic amount of time for the negotiation process to take place. Hours, weeks or months—it will frequently take longer than you expect. Rushing through the negotiation almost always works against you.
3. Don't assume you know what the other party wants. It is far more prudent to assume that you do not know and then proceed to discover the realities of the situation by patient testing and questioning. If you proceed to negotiate a deal on the basis of your own untested estimate, you are making a serious mistake.
4. Do not assume that your aspiration level is high enough. It is possible that your demands are too modest, or too easy to achieve. The other party may not know what they want or may have a set of values quite different from your own.
5. Finally, never accept the first offer. Many people do if the offer is as good as they expected or hoped to get. There are two good reasons not to accept: First, the other party is probably willing to make some concessions. Second, if you take the first offer, the other party is often left with the feeling that they were foolish for starting too low. In any case, the negotiator who takes the first offer too fast makes a mistake.
About Derek
Derek A. Smith is an expert at negotiations. He has completed doctoral work in organizational leadership and conflict resolution and has eight degrees including three master’s degrees, one an MBA and one in project management. Derek has taught negotiating and persuasion skills for over 20 years to thousands of individuals while teaching graduate and undergraduate business students at a number of universities, colleges, and private institutions.
In the Air Force and Army he honed his negotiation and persuasion skills as an undercover narcotics agent, counterintelligence agent, and Army interrogator. His successful military career led to his becoming a senior special agent for four government agencies, including the Defense Intelligence Agency, US Treasury, and Postal Service.
He has perfected his skills working as a Principle Senior Consultant for such companies as Booz Allen Hamilton, Computer Sciences Corporation, and Robert Half Technology. Derek is currently building a successful real estate investing and success coaching businesses.
1. Never set your initial offer near your final objective. Give yourself some wiggle room to negotiate. It doesn't matter what you are negotiating. When you start any negotiation you must assume the other party will always put their maximum positions on the table first. Equally important is the fact that they probably will not disclose to you the minimum they are willing to accept. Don't be shy about asking for everything you might want and more during a negotiation.
2. Give yourself enough time to negotiate. Before you start make sure you have allowed a realistic amount of time for the negotiation process to take place. Hours, weeks or months—it will frequently take longer than you expect. Rushing through the negotiation almost always works against you.
3. Don't assume you know what the other party wants. It is far more prudent to assume that you do not know and then proceed to discover the realities of the situation by patient testing and questioning. If you proceed to negotiate a deal on the basis of your own untested estimate, you are making a serious mistake.
4. Do not assume that your aspiration level is high enough. It is possible that your demands are too modest, or too easy to achieve. The other party may not know what they want or may have a set of values quite different from your own.
5. Finally, never accept the first offer. Many people do if the offer is as good as they expected or hoped to get. There are two good reasons not to accept: First, the other party is probably willing to make some concessions. Second, if you take the first offer, the other party is often left with the feeling that they were foolish for starting too low. In any case, the negotiator who takes the first offer too fast makes a mistake.
About Derek
Derek A. Smith is an expert at negotiations. He has completed doctoral work in organizational leadership and conflict resolution and has eight degrees including three master’s degrees, one an MBA and one in project management. Derek has taught negotiating and persuasion skills for over 20 years to thousands of individuals while teaching graduate and undergraduate business students at a number of universities, colleges, and private institutions.
In the Air Force and Army he honed his negotiation and persuasion skills as an undercover narcotics agent, counterintelligence agent, and Army interrogator. His successful military career led to his becoming a senior special agent for four government agencies, including the Defense Intelligence Agency, US Treasury, and Postal Service.
He has perfected his skills working as a Principle Senior Consultant for such companies as Booz Allen Hamilton, Computer Sciences Corporation, and Robert Half Technology. Derek is currently building a successful real estate investing and success coaching businesses.
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