Most negotiations start with both sides having a set of assumptions regarding what the other side wants, needs, or are able to do, or not do. One of the purposes of the negotiating process is to discover if your assumptions are valid.
Never trust your assumptions because they are likely to be as wrong as right.
Let’s look at some common assumptions many business people start with:
“They will never pay that much.” “They don’t want to do business with us after the last mess-up.” “We’ve got to have it done in 60-days.” “There is a lot of competition.” “They would never be interested in this option.” “He doesn’t have enough money.” “I’m sure we’re not the low bidder.”
Assumptions like this can defeat you before you even start negotiating. These assumptions lower your own expectations, influence the outcome of the negotiation; and may, in fact, be dead wrong!
Be careful! Your assumptions can:
* Cause you to make high offers when low ones are called for. * Influence you to make low demands and quick concessions when opposite actions are warranted. * Seduce you into believing deadlines when patience is by far the better course of action. * Create potential hurdles that can move you in the wrong direction.
Don’t fall in love with your assumptions. Part of the negotiating process is to check them out. Assumptions are neither right nor wrong until proven so.
Assumptions place boundaries on the potential outcomes of a negotiation. The better you validate these boundaries, the better position you will be in to create truly Both-Win outcomes.
Negotiating Via E-mail?
E-mail is a common component of today’s negotiations. It is, quite simply, an efficient way to communicate. However, e-mail brings new dynamics to your negotiation.
Assess Your Negotiating Profile
Negotiation is one of the most difficult jobs a person can do. It requires a combination of diverse traits and skills. The process of negotiating demands not only good business judgment but also a keen understanding of human nature. I know of no other area in business where the alchemy of power, persuasion, economics, motivation, and organizational pressure come together in so concentrated a fashion and so narrow a time frame. Nowhere is the return on investment potential so high!
Questions During a Negotiation
Negotiation is a process of discovery. Questions are raised and answers given, statements made and rebuttals offered. During a negotiation there often is great pressure placed on you to provide quick statements and sensible answers to hard questions.
