Negotiation Strategies

Your Negotiation Prep Checklist: Win More, Lose Less!

Don’t just walk into a negotiation. Prepare like a pro.

1. Before You Start (Most Important!):

• Know Your BATNA: What’s your Best Alternative To a Negotiated Agreement? (Your walk-away point).
  • Example: For a job offer, your BATNA might be another job offer.
• Estimate Their BATNA: What do you think their alternative is? (Helps gauge their power).
• Identify Your INTERESTS: Why do you want something? (e.g., financial security, work-life balance). Not just your POSITION (e.g., £70k salary).
• Estimate Their INTERESTS: What are their underlying needs?
• Brainstorm Options: Think of multiple ways to satisfy both sets of interests.

2. During the Negotiation:

• Build Rapport: Start with small talk.
• Listen Actively: Understand their interests, concerns, and constraints.
• Focus on Interests: “Help me understand why that’s important to you.”
• Be Creative: Suggest multiple options, aim to “expand the pie.”
• Be Firm on Principles: Don’t compromise your core interests, but be flexible on positions.
• Don’t Be Afraid to Walk Away: If your BATNA is better than the current offer.

3. After the Negotiation:

• Get it in Writing: Document everything clearly.
• Follow Up: Build the relationship for future interactions.

Golden Rule: The goal of a good negotiation is not to win at all costs, but to get the best possible outcome while building a sustainable relationship.