Negotiating Basics (part 7) - Preparation
Learn in this video post what you need to know going into a negotiation and some ways to prepare by knowing yourself, researching the other party, utilizing role play and relying on preparation templates and checklists (listed below).
Resources:
Click Here - Negotiation One-Sheet by Chris Voss from Never Split the Difference
Click here - A Negotiation Preparation Checklist by Harvard Law School’s Program on Negotiation
Video Summary:
Have a complete and thorough understanding of yourself and the other side
If you are new to negotiating, take it step by step
Be sure you rehearse your side of the case
Learn from previous negotiations with the same party
Make sure you have the correct key facts and figures at your fingertips
Prepare your negotiation information:
Objective
Hard information that supports your position
Underlying interests and concerns
Try identifying the other side's objectives, supporting information, and their underlying interests and concerns
Identify the strengths and weaknesses of your case
Plan your concessions in advance
Hold a significant concession in reserve to be presented as a final, closing concession
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