These Three Things Can Make You A Better Negotiator
Your people don’t have to be the best negotiators in the world.
They just have to be the best negotiators in the room.
I travel a lot, and I depend on my GPS app a lot. I’m currently prepping a sales team for the renegotiation of a big contract. We had a team strategy session about an hour and a half’s drive from my office a few days ago. My GPS told me I would arrive at 8:02. Perfect.
Along the way traffic got bad. My GPS piped up to tell me there was a better route that would save me 15 minutes. Great!
This happened twice more during the drive – lousy traffic, new route, new arrival time. I got to the meeting two minutes early only because my GPS has access to a vast amount of information. I started thinking about the similarities between my meandering trip and the successful planning and execution of a negotiation. I wish I could go into every negotiation with as much information about the company, it’s industry and culture, as any GPS app has about routes and traffic!
Here is the strategy that works:
Prepare thoroughly. Research deeply. Allow for every eventuality you can think of.
Have access to, and be open to, new information as it becomes available.
When the negotiation starts, be flexible and react in real time to situations as they arise.
Even in an everyday negotiation, unexpected events have a way of showing up:
Someone gets advice from their uncle.
A new boss gets hired.
A merger takes place.
To quote Winston Churchill: “Plans are of little importance, but planning is essential.” The clarity and flexibility that come from time spent planning, researching, and preparing before the meeting pays off when you’re in the room.
I only do three things. I teach people to negotiate more effectively. I coach teams through important negotiations when the results matter. I speak at associations and conventions.