The Key Negotiation Skill Of Planning Efficient Objectives For Your Negotiations.

A critical negotiation skill in your purchasing negotiations is how you go about planning your objectives.

I would like to share with you 3 important points that we cover in our negotiation skills training courses to consider when you are planning for your negotiations.

1. What is the absolutely best result for you in this negotiation?

What would a absolutely wonderful transaction (one that you would be extremely happy to agree to) look like?

We call this your aspiration base - in other words, the level at which you will aspire to close the transaction.

You should be aware that it is vital in your negotiation to always ask for a little more than you would like to get. This means that you must always have an aspiration base that is higher than your desired objective. By asking for a little more than you would like to achieve you allow yourself to make a concession to your counterpart in exchange for a counter concession.

On the positive side, you may just get what you regard to be fantastic if you ask for it! Don't fall into the trap of making decisions on behalf of your counterpart by saying to yourself they will not consider that .Take note that I am not suggesting that you make extreme requests - extreme requests are very risky and dependent on the cultural environment within which you find yourself.

2. What is the absolutely minimum acceptable outcome for you in this negotiation?

At what stage will you decide to stop or suspend your discussions?

If you do not decide on a specific stage at which it will no longer be realistic or attractive for you to conclude a deal, then you may become susceptible to closing a deal that you will not be happy with. This is vital to do as you could easily become emotionally committed to closing a transaction at any cost because you may think that your individual reputation is at stake.

3. What do you think are the aspirations and minimum acceptable transaction levels for your counterpart?

It is also vital that you consider the aspirations and minimum acceptable deal levels from your counterparts viewpoint. This will never be an exact science but through proper planning and research of supporting information you may be able to get a good idea of what kind of transaction is the standard in your line of business or kind of negotiation.

By considering the aspirations and minimum acceptable agreement levels from your counterparts viewpoint, you will be able to identify the bargaining range. Being aware of the agreement range or zone of possible agreement (ZOPA) will help you to see if an agreement is possible or not.

Most negotiation training programmes will teach you that the bargaining range is defined as the area of overlap between your minimum acceptable deal level and the minimum acceptable deal levels of your counterpart.

Remember that most of your success in negotiation is dependent on the quality of your planning. You should spend at least as much time planning for negotiations as you expect to be busy negotiating. If you expect to be in negotiations for an hour, then you should spend at least the same time in preparations.

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