6 Snares of Business Negotiations

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Whenever we go for an important negotiation, it is critical to be adequately cautious. In this regards there are 6 possible snares which we must take care of:

  1. Never underestimate the opponent’s ability. We do not know how much armour the opponent has gathered before coming to negotiating table. Besides, he/she could have consulted highly proficient professionals and come prepared.
  1. Preparing for what to speak is not enough. You must decide and practice how to speak, particularly maintaining your tone. More than that; prepare yourself to listen. Make a strategy to make the opponent talk. It is necessary to find out the real intent. Recognize the intent.
  1. Not following the tried and tested principal, ‘first understand and then be understood’ must be avoided. So at the negotiating table the first thing we must do is to listen. Let the opponent put forth all the demands.
  1. We must list out the demands of the opponent that we may concede. Being stubborn will only break the negotiation. It’s a loose/loose situation which needs to be negated. First talk of lesser concessions and offer the ace for which the opponent is most keen at the end.
  1. Be prepared that the negotiation may not bring about the desired result. So never give more information than what is necessary.
  1. In the instance of not coming to a conclusion create a space for the next meeting. Failure should never be considered as final. Then prepare for the next meeting at the agreed time with all that transpired carefully assimilated.

Thanks for reading.

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