Knowing how to negotiate win-win is necessary to obtain what we want, but also to allow those who negotiate with us to also obtain what they need, as a basis for a long-term relationship.
Negotiation is a procedure by which two parties, each of whom has something that the other wants, agree to an exchange after a “bargain.”
So, if we want to access various resources to develop our project or venture, we need to negotiate. And “haggle” in a good way, knowing what is the most we are willing to give up and the least we are willing to accept.
For example, if we need investment capital, business alliances, business contacts, good suppliers, etc. We have to negotiate in various facets that allow us to get what we want, giving in exchange what they want. Ex: We need money to launch our project, we will have to give share capital.
Win win: If we want to establish lasting relationships, we must negotiate under the “win-win” premise. I win, but the other person also wins. It is not advisable to play a zero-sum game, where I must win everything and the other person lose. It is not a football game where it is necessary to play to win. Here, if the other feels that he lost, at some point he will try to take revenge.
Tips to apply to your negotiations
Below are some simple and practical recommendations to keep in mind when negotiating:
PREPARE: Before starting a negotiation, you have to plan your actions and inform yourself
Who is my counterpart and what are their needs? : This means finding out what you want from us, what you need, what things of value I can provide you. That is our negotiating capital. Let’s think about how much it can be “worth” and if in exchange we can get what we need.
Let’s define our Objectives: At a minimum, what do we hope to obtain from this negotiation? To what extent can I be willing to give in to what they ask of me? Depending on the minimum I aspire to.
Prepare exchange options: Let’s think about different alternatives where we combine what we need with what we must give in exchange according to what we know our counterpart needs. Let’s play with options of different tenor.
Negotiating: Being already at the “negotiating table”, there are several points to take into account, which allow us to improve our negotiating capacity:
Create a good climate: Smile, invite relaxation, put aside hostile or distrustful glances
Promise only what we can deliver: Know clearly how far we can go.
Study the “body language” of our counterpart: There are several signs (e.g. crossed arms implies resistance, showing the palm of your hands communicates trustworthiness, touching your nose implies something suspicious, etc.)
Don’t let us pressure: Manage our times and possibilities
Give: In what is least important and protecting what interests us most
Sometimes, enable third-party mediation: When it is a complex negotiation or if we know a trusted third party in common
CONCLUDING: When reaching an agreement, you have to keep a cool head and be very attentive:
Be assertive: Neither submissive nor aggressive. Show firmness.
Leave in writing: Do the words are gone with the wind. Leave everything in writing at the time and sign it. Or write meeting minutes and distribute it for signature.
