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