Effective Negotiation Strategies Delivers Successes

“Let us never negotiate out of fear, but never fear to negotiate” is a common saying but seldom applies. Most people are at a loss and fearful on the outset of negation. Negotiation is a critical skill in today’s social and cooperative sectors. Most of us think that the platform is not even. Meaning, there will be a winner and a loser, but the right way of negotiation is to achieve a win-win solution to both parties. Proper negotiation skills training are therefore essential for everybody to avoid competitors as well as accommodators.

Mastering the Process

Poor preparation in a negotiation often leads to failure. Success in this process is not only determined by the facts of your case but also the skill of the negotiator. An observer may think that conflict lovers are better negotiators, but this is rarely the case. Some important points to consider in an effective negotiation includes:

  • Recognition of the strengths and weaknesses. It is a very important concept. One will develop an action strategy based on the identified strength/weaknesses. It is important to focus on maximizing on your strengths while reducing the impact of your weaknesses in the process.
  • Planning and preparation is critical in finding a favorable solution. Confidence alone will not deliver success without solid and organized facts on the bargaining table. Good planning can easily turn an accommodating person into a winner and a competition focused person into a skillful negotiator.
  • Mastering your emotions. Bargaining can at times bring in negative emotions to the surface. Understanding and preparing for such times can turn a potentially loser situation into a winner. Many people will leave the table angry and rushed only to regret it later. Proper control of these emotions proves successful in bargaining.
  • Regular practice in negotiation is another sure way to be successful. It is also important to take a negotiation skills training course to practice with other likeminded professionals and eventually develop your skills. Remember, practice makes perfect.

Negotiation Strategies

These are known concepts that contribute to developing successful skills. These include:

  • BATNA/WATNA –  defined as “best alternative to an agreement” while WATNA means the “worst alternative in an agreement”. Taken simply, it is recognizing the best and worst scenarios in the outcome of the negotiation. It is handled through assigning probabilities to each possible outcome from the bargaining table. In real life, the better the BATNA the higher the potential success and WATNA is applied while considering walking away from the agreement.
  • WAP/ZOPA – this refers to the point at which either parties chooses to walk from the negotiation “Walk Away Point” while ZOPA denotes the “Zone of possible agreement”. This can be put in as a range between the best and worst case possibilities. “Pitching in” is where you first make proposal in favor of your position mostly starting with a higher target and waiting for the counter proposal from the other party.

The skills and strategies mentioned above will allow for better conflict resolution in organizations. It will lead to higher profit potential and increased revenue to the business. People are also able to meet deadlines through better social skills.

The New Horizons Learning Center offers detailed negotiation skills training that guarantees results and enhanced business solutions. Be trained and show off the expertise!   For more info, visit http://www.nhaustralia.com.au/courses/business-skills/the-effective-negotiator