Negotiating Basics (part 5) - Objective Setting

Learn about negotiating objective setting and why it's important to enter a negotiation with clear objectives. Learn how to categorize your objectives and what each category means.

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Video Summary:

• Set SMART objectives that are:

  • Specific

  • Measurable

  • Achievable

  • Relevant

  • Timely

• Avoid generalities and ambiguities

• Prioritize your objectives

• Divide and label your objectives into those you must achieve, those you'd like to achieve, and those you might achieve in an ideal world

• Develop a fall-back position that's acceptable to you and might be fair to the other side

• Develop a bottom line that's the bare minimum you can accept

• Remember that no agreement is better than a bad agreement

• If both sides have attractive alternatives or BATNAS, no agreement may be the best outcome

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