How do you maintain a sense of control during a negotiation?
Negotiation
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Negotiating is a complex and dynamic process that involves multiple parties, interests, options and uncertainties. It can also trigger emotional reactions, cognitive biases and power imbalances that can undermine one's sense of control and effectiveness. How can negotiators manage these challenges and maintain a sense of control during a negotiation? Here are some methods to consider.
Prepare thoroughly
The first and most fundamental method to gain control is to prepare well before entering a negotiation. This means knowing your own and your counterpart's goals, alternatives, preferences and constraints, and anticipating potential scenarios and risks.
For example, before negotiating a contract with a new supplier, you can gather relevant data, testimonials and benchmarks that support your proposal and demonstrate your expertise and reputation.
Set and prioritize your goals
Define not only what you want to achieve, but also why and how much. By doing so, you can establish a coherent framework for evaluating and making trade-offs, as well as avoiding concessions that do not serve your interests. You can also use goal setting to signal your expectations, commitment and flexibility.
For example, before negotiating a salary increase with your boss, you can identify and rank your desired outcomes, such as base pay, bonus, benefits and recognition, and explain how they align with your performance and value.
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Manage your emotions
To maintain a sense of control during a negotiation, it’s crucial you manage your emotions effectively. This means not only regulating your own feelings, but also recognizing and responding to your counterpart's emotions.
Before negotiating, you can practice calming techniques, such as breathing, mindfulness or reframing, and acknowledge and address the other party’s perspective and demands.
Choose and adapt your strategy
Decide whether to adopt a cooperative, competitive or mixed approach, and adjust it according to the situation and the relationship.
You can also use strategy selection and adaptation to influence the tone, pace and direction of the negotiation, which can create and claim value. For example, before negotiating a merger with a rival firm, you can assess and vary your level of assertiveness, responsiveness and openness.
Make sure to ask questions and listen carefully to improve your understanding of the other party’s demands and adjust your approach accordingly.
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This article was edited by LinkedIn News Editor Anamaria Silic and was curated leveraging the help of AI technology.
[Marketing and Sales Trainer], [Sales Consultant ], Business School Trainer
1yOne of the most important steps in negotiations that we neglect it, is preparing for negotiation. When we are in a bad mood or out mind is full of personal problems we can't have a perfect negotiation
Commissioner at Federal Mediation and Conciliation Service (FMCS) The views and opinions provided herein are my own and do not necessarily represent the views of FMCS or of the United States.
1yGreat points. Negotiations is continuous work: Preparing for, Recognizing, Managing, Regulating and Responding to emotions, expectations, external factors, internal factors and timing. #showingupisnotenough #situationalawareness
From my perspective, the emotional aspect is the most important component of the negotiation. Human beings may make a logical decision backed by emotion. But making an emotional decision backed by logic will surely leave us feeling much more satisfied, and justified for feeling that way. It is our job to understand how this decision might relate towards the other's esteem, credibility, worthiness, or respect. We then lead them to that destination - and show them how our proposition will support it. This is why leaving the boring facts, graphs and charts for the latter part of the negotiation is probably a wise move.
LEADERSHIP CONSULTANT| PRACTITIONER OF PSYCHOLOGICAL SAFETY | VISIONARY LEADER | JEDI CHAMPION | STRATEGIC MANAGEMENT | STAFF DEVELOPMENT
2yCan I add that before you start negotiation you need to be aware of your own emotional intelligence. Being aware of EI can be the difference between building on the initial relationship or not having one at all. We need to do better at reading body language and between the lines when negotiating. We can only do that when we go into that negotiation seeking to first understand while keeping our emotional intelligence in check.
Real Estate Broker | Owner | Broadway Realty | Bestselling Author of Get Rich In Real Estate
2yIn my 25 years of real estate negotiations for clients I always negotiate to create value and have a effective solutions. Value can be created through negotiations, but it must also be distributed between or among the parties involved. The key is to do so in a non-adversarial manner that avoids the high costs of bluffing, and damaged relationships. At the end of the day all parties come to closing table and should be happy to close.