Negotiation Preparation Tips

Preparing for a negotiation can increase the odds for a successful outcome.

Here are some tips:

Planning

Carefully plan your negotiation.  This includes the ideal outcome you are looking for, as well as, which compromises you are willing to make.  It is also advisable to plan compromises for the other side that they should be willing to accept. 

Research

You should know as much as possible about who you are dealing with.  You don't necessarily need to dig up dirt on the other side, but the more informed you are of them, the better you can strategize.  Know why they want or don't want something.  Having done research you can match their needs and at the same time fulfil yours.

Objectives

As mentioned in the planning section, you should have a clear idea of what you want to be satisfied from the negotiation.  Always plan for a win-win situation.  Both sides may make compromises and not get everything they want, but a successful negotiation ends with both sides feeling like they have come out ahead.

Limits

While every point should be open for negotiation, keep in mind which points you would rather fight hard for and which you can sacrifice.  Make sure to know your limits, as well as, theirs.

Strategy

There are many types of negotiation tactics you can employ.  But make sure you play fair and use the tactics smartly.  You don't want to end up ruining the chances of a successful negotiation because of dirty play.