Top Tips in Negotiation

1. Before going in decide on your negotiating position. Preparation is key. Ask for as much information as possible before going into the negotiation about what is to be negotiated but do not ask for their negotiating position. Do not underestimate your power in negotiation, the other person wants and needs something from you.
2. You do not have to accept their offer. There is almost always room for negotiation.
3. Game play the negotiation by working through what the other side is likely to ask for and how you might respond.
4. Creativity in a negotiation can be key to finding a solution and knowing your own bottom line and fall-back position gives you the room to be creative.
5. Discuss everything fully; do not leave spaces where there could be disagreement at a later date.
6. Decide who the lead negotiator is.
7. Always have at least 2 people to represent you. The one who is not the lead should be constantly listening and monitoring the emotional arc of the meeting.
8. Take time-out if you are not clear about your bargaining position or if the discussion is getting too heated. It is fine to request a short recess and often helpful for both sides.
9. Make sure that you have gifts to offer as well as asking for things.
10. Most negotiations end in compromise not win/win. There is a huge difference between a good compromise and a bad one.
11. Always go in low, you can always increase your offer, you can never decrease it. Wait for a response before you make another offer. Silence can be a very effective form of negotiation.
12. If you want something ask for it and see what happens.
13. Timing is everything, only ask when the other person is ready.
14. Record all decisions and summarise at the end and get all decisions in writing.

See attachment below.