Know the other side’s benchmark It’s also important to consider who or what your negotiating opponent has selected as a yardstick. In all likelihood, she wanted favorable comparisons, which may cause her to be overly optimistic about what she can achieve. If so, try to help her adjust her aspirations and work with her to […]
Are people concerned about status in any negotiation? Yes, they are. The question is, how do you deal with your concerns and those of the others? This is part one of six-part knowledge letter sharing guidelines applicable in most situations. Select the correct benchmark Often the negotiators make tacit comparisons with others. When the other […]
Internet and its applications continue to commoditize offerings of several service companies. The sales executives of these companies now deal mostly with the procurement departments rather than the senior executives. Under the current market dynamics, an ability to differentiate between selling problem vs. a negotiating problem can mean millions of dollars in an organization’s performance […]
John, the majority owner of hotel Dixie in West palm, offered to sell the hotel to its manager, Ajit, at its book value. This was a once-in-a-lifetime opportunity for Ajit. He quickly lined up an investor. Since hiring Ajit three years ago, the hotel performance had zoomed from forty percent to full occupancy. Ajit, however, […]
I intended to write the next issue of “Negotiating with difficult people.” However, I am compelled to respond to a question raised by several readers of my newsletter. Question: How do I deal with a person who is known for being a stubborn haggler? If I adopt a collaborative approach and be cordial, my opponent will […]
Pay careful attention to your opponent and look for signals. Recognize that not all of her needs may be readily evident. These are usually unstated needs. A homeowner who will not cooperate with a real estate agent to help sell her house may turn out to have deep-seated uncertainty about selling. Realizing that, you might […]
Understand the environment What kind of situation are you dealing with? Does it promote collaborative behavior or adversarial conduct? It is not always that the other side is poor negotiators. Other factors could influence their stance. In general, long-term relationships, voluntary relationships, private informal setting, emotionally detached from the deal and absence of irritants will […]