NEGOTIATION TIPS and other facts of life

To understand and use the tool called “negotiation” you must first know what the word means.

Negotiation is a noun, meaning a mutual discussion and arrangement of the terms of an agreement.

Negotiating is an action verb, it means to deal with or bargain with another toward the end of a contract or business deal.

The operative word here is: agreement.

Agreement is the basis of all successful negotiation and, not surprisingly, is also the basis of all successful selling.

When there is an agreement there is a meeting of the minds of two or more people, each one feeling that their needs and wants have been met. Ideally it is not a zero-sum game, where one person will lose and one person will win as in a game of chess.

In fact, there is no such thing as a “one-sided agreement” – it is a mutual agreement.

Keep this fundamental principle in mind the next time you begin a negotiation and you’ll find the whole process much easier and more rewarding.

The following is from my own personal experience in obtaining a post-graduate degree in the school of hard knocks. I offer you these tips in hopes that you will avoid the cost of making them yourself.

NEGOTIATION TIPS and other facts of Life

Anything can be negotiated.

Value is determined by how much something is wanted.

Preparation, planning and foresight are the keywords to success in all negotiations.

If something feels wrong, it is wrong.

All people lie some of the time; some people lie all of the time, learn to tell the difference.

Let them call the deal anything they want, as long as they don’t change the economics.

In an impasse, go back to the original purpose; simplify and clarify it.

Train yourself to hear what they’re not saying.

Technology and people alike can fail at the worst possible moment.

Never tell everything you know.

 If it sounds too good to be real, it’s probably illegal.

Opinions, hypothetical’s and “everybody knows” are not facts.

Something that could “never happen,” can and likely will.

Give away elements you don’t want; never bend on the important ones.

If something sounds “in-credible” it’s not credible.

Time and information are your primary assets.

If you feel you’re being manipulated, you are.

Believe 10% of what you hear and only 50% of what you see.

Assume nothing.

The value of a favor or service will be forgotten after it has been performed.

An accident happens once, a coincidence twice. Three times means take action, immediately.

Don’t let your methods violate your principles.

Any verbal contract isn’t worth the paper it’s written on.

The side that understands the most about people always has the stronger position.

Trust, but verify.

daniel w. jacobs
(c) 2012-2030, all rights reserved

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