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Prepare a negotiation strategy from "summary" of Bargaining for Advantage by G. Richard Shell
Before engaging in any negotiation, it is crucial to take the time to prepare a strategic plan to guide your actions and decisions throughout the process. A negotiation strategy serves as a roadmap, helping you to stay focused on your objectives and navigate the complexities of the bargaining process with confidence and clarity. The first step in preparing a negotiation strategy is to define your goals and priorities. What do you hope to achieve through this negotiation? What are your non-negotiables, and where are you willing to compromise? By clearly identifying your objectives, you can better assess the value of potential trade-offs and make informed decisions about when to stand firm and when to be flexible. Once you have established your goals, it is essential to conduct thorough research and gather as much information as possible about the other party and the context of the negotiation. What are their interests and priorities? What constraints and pressures are they facing? By understanding the other party's perspective, you can anticipate their likely positions and develop strategies to address their concerns while advancing your own interests. In addition to understanding the other party, it is critical to assess your own strengths and weaknesses. What leverage do you have in this negotiation? What alternatives do you have if the current deal falls through? By conducting a candid self-assessment, you can better position yourself to capitalize on your strengths and mitigate your vulnerabilities during the bargaining process. Armed with a clear understanding of your goals, the other party, and yourself, you can begin to develop a negotiation strategy that outlines your approach to the bargaining process. This strategy should include a plan for opening the negotiation, setting the tone, and establishing rapport with the other party. It should also outline your tactics for making and responding to offers, managing concessions, and reaching agreement. Throughout the negotiation, it is essential to remain flexible and adaptable in your approach. As new information emerges and circumstances evolve, be prepared to adjust your strategy accordingly to maximize your effectiveness and achieve your goals. By staying true to your objectives while remaining open to creative solutions and opportunities for value creation, you can enhance your chances of reaching a successful agreement that meets the needs of all parties involved.
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