This Week in Business Skills - Other Side of Negotiation

As it is important to know the points where in you can compromise and can agree, it is equally important to know the areas where you expect possibility of misunderstanding. This is an equally important aspect in negotiation. Knowing the areas where the other person have chances of disagreeing helps you to prepare in advance and can help you turn the negotiation in your favor.

In negotiation the emotions of the other person play an equally important role as of yours. It is also very important to assess the situation from the point of
gain and lose. What you are going to lose or gain by the negotiation and what the other person has to lose or gain from the negotiation. If you can asses this, you have an upper hand in the negotiation.

In negotiation, it is very important to know about the other person, his situation, and his limitations, and capabilities as a negotiator. If you are clear in these aspects it will be very easy for you to tune in into the deal. You should always proceed according to the situation and should take step by step approach, which will help you have control over the situation.

Your strategy and way of approach should always be short and simple. You should always be prepared to handle any kind of surprises that come during the process of negotiation. It would be better that you propose the agenda, so that you have control over the situation and know where you can discuss each points. But it is not always possible that you will propose the agenda first as it depends on the persons and the circumstances you are in. But you should always prepare to handle the situation either way.