TOP 5 TIPS FOR NEGOTIATION PREPARATION 

 

1. Make sure you set aside time to prepare.

Even if it is only 10 minutes between receiving a phone call and having to return it, some preparation is better than none.

2. Think about an agenda for the negotiation.

What are the issues on the table? It may be valuable to set the agenda prior to the meeting commencing so that both sides can prepare effectively.

3. If you are about to negotiate on a set piece issue think about taking along a team with you.

The team should be prepared effectively and have set roles. A well drilled team creates an advantage when the meeting begins.

4. Practice your response.

In your team think about how you will respond to the various 'plays' that the other side might make.  Spend time developing 'what if' responses to how the other side may play their agenda.

5. Test any contentious issues with stakeholders.

Make sure you have the authority and backing to take any tough decisions you may need to take.

Latest Blog:

8 tips to negotiating in a recession (Pt 3)

Any negotiation, whether it is in challenging economic times (read: recession) or when your business is on a ‘high’, should be well planned and well prepared for. We have shared tips on this in our 2 previous blogs. The next challenging stage of any negotiation happens when you engage with the other party. There are a few things you should be thinking about before you enter the negotiation, like whether a team approach or individual talks would best suit your interests and a plan to ensure you get your message across.

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