Preparation for Negotiation

It's hard to negotiate on something when it's not clear to you (first of all) what are you negotiation about, with whom and what are your options. So, you must know all relevant facts before you even start to negotiate about something.

First of all, you must clearly and precisely define what's your goal, and than see how realistic this goal is. While you prepare yourself, try to rang priorities and identify key elements - not everything has the same importance so maybe we may loosen on some elements and make a compromise in some segment of negotiation and by that gain better conditions in other, more important to achieving goal.

Find all the relative informations and make sure you haven't miss something. Use all sources you can get to - internet, television, reports from expert organizations, talk with people working with you about their experiences, go through your database, etc. Talk with others that already contacted same firm/people, go through correspondence and other documents, talk with other business partner on subject.

Find out all You can about 'adversary': what are they needs, what options they have, what are their financial needs, what kind of person he/she is, how they make a decisions and how it may reflect your interests.

More informations You have, more self-confident you'll get.

You must have a clear goal so it's best to put it into values. If you buy or sell you have to define what's your target price, what's the highest price that may pass, what's realistic price.

Goals must be concrete, measurable, reachable, realistic and time-defined so that you can rate your efficiency.

There are certain risks that appear if you are not prepared adequately: you'll fail to protect your goals, you may make wrong judgments during negotiation , you may loosen to fast and more than necessary, you may loose control over negotiation course, etc.

This is why you have to prepare more than one (the more it's better) alternative solutions.

Complexity of negotiations may influence time for preparations, but you can't allow yourself to get intimidated with length of preparation or huge quantity of informations. You must be prepared the best you can because you can't over-prepare yourself.

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