Well-prepared negotiators know that they can control much of the negotiation process through how they plan, and frame, a negotiation.
Successful negotiators begin the planning process by understanding the value they provide and then creating a strategy that allows them to capture full value through a process of value exchange. They know that the more they ask for, the more they get. They also know that they can always pull back (ask for less), but where they begin determines to an enormous extent where they end up.
Successful negotiators begin with the goal in mind. They think about things like: what does the customer truly hope for and what would they feel is a solid, profitable, sustainable agreement?
What are the things that they must have and what are the “nice to haves”?
This is important because those “nice to haves” may be exchanged as part of the negotiation process.
The best negotiators also identify their “exit” – the point at which no deal is better than a bad deal.
Think about the negotiation you identified as pre-work. What are the key elements i.e. the goals for your negotiated agreement? Write them down in your planner below.
Think about things like price, but also other key negotiables such as deliverables, schedule, payment terms, customization, etc.