You have read about negotiation. You have practiced techniques. You are prepared. You have researched the other party on social media. You are ready to work on developing a great relationship. You believe you are ready to actively listen before beginning to educate the other party. You are looking for a win-win negotiation so that you can create value. Here are three other items to allow you to step up your game.
In some negotiations it seems like the deal will never close. This can be a technique used by one side to wear down the participants of the other side, it could be the result of factors beyond the control of participants or something else that you may never know. This commentary addresses such a situation, when you need or want to close the deal and the other side does not. What should you do? This article addresses this question.
Sometimes both parties agree to disagree, but it can be possible for the parties to come up with a contingency agreement to memorialize perspectives and set up the parties for success in the future. This commentary addresses this type of situation. This may essentially be a bet on the future that both parties can live with going forward.
How about the IRS?
I met with a business valuer that provides business owners with valuations. We discussed the ways that business advisors help business owners. Based on this discussion and follow up from that discussion I wanted to share some ideas with you.
Whether in business or in a negotiation, how can you improve collaboration? This can be difficult in business and especially in a negotiation with a difficult party. You have to work to keep your team focused and to help your team to stay focused and keep their eye on the ball. It is important not to be distracted by personalities, negative commentary and other distractions. So what should you do?
It was my pleasure to attend the CTI NACVA conference at Caesars Palace in Las Vegas and hear a wonderful key note by Tim Urban on AI and the future. I wanted to share some of what I took away from his comments that I thought you too would find of interest.
From the book Peaceful Resolutions a summary of one of the steps to resolving conflict is a free six sided pocket guide (that fits in your pocket). One of the six sides of the tri-fold pocket guide offers Ten Steps for an Interest-Based Resolution. This 10 step summary process is elaborated on in this text.
In business two elements can continually be at odds with one another. These items are trust and transparency.
Transparency is clearly a good idea, but when is to much a bad idea? This article explores this question with employees and then looks at this question related to a negotiation.
This article summarizes lessons learned from interviews from 30 executives on lessons learned from positive and negative encounters. We all can learn from these.
What do you think? Does a reputation for collaboration or for competition suggest an advantage at the bargaining table? We both know you cannot control what others say about you, but you can control what you do and how you do it. You only have one reputation and once that is tarnished you are in trouble. So what type of reputation should you try to cultivate?
In negotiations the parties have positions and negotiators ask questions to determine interests, but what happens when the real underlying issues resolve around values? As a set of general rules it is a good idea to “consider interests and values separately, engage in relationship building dialogue, appeal to overreaching values, and confront valued differences directly” according to the consensus building institute. The link offers several good examples. I would like to explore these four steps with you regarding a personal situation of mine recently. Keep in mind not all situations have a happy ending.
This is the second blog with Part I having been issued October 23, 2017 at mikegreg.com/blog.
Just the thought of negotiations can cause stress. More recent articles from neuroscientists provide some insights on what we can do to address stress proactively before, during and after a negotiation to minimize threats. Last week this blog focused on attitude, preparation and trying to be friendly. This week the focus is on clearing the mind of worry, balance and emotional charged negotiations.