9 Common Mistakes in Professional Negotiation Principles

In this article, we examine 9 common mistakes in negotiation principles and discuss how to avoid them.

It can be said that negotiating is an important and vital part for a manager. If you can’t negotiate effectively, you will struggle in your career. For example, you may lose business or the respect of your team members, or you may not succeed in solving problems that better negotiators can navigate.

1. Lack of preparation for negotiation

Even if you have a clear idea of what you want from a negotiation, you should still carefully prepare and practice your arguments. Lack of preparation for negotiation is one of the common mistakes in professional negotiation principles.

When you are prepared, you feel more confident, which is important in any negotiation. If you can demonstrate your knowledge of the topic at hand, the other person will take you seriously, and if you are well prepared, you will likely not forget anything. It is important to include everything in your negotiation because it is very difficult to accept new demands after negotiation.

If you’re going into a group discussion, sit down with your team beforehand and decide who’s going to say what. Practice your first step and clarify your arguments, perhaps using role-play. Discuss what the other person is likely to say and what you are willing to compromise on.

Take notes and bring them to your meeting.

2. Not listening

To be a successful negotiator, you must listen to the other party. If you talk to him but ignore what he has to say, it will be harder to find common ground.

When you have good listening skills, you can learn about what the other person wants, determine if you have common interests, and how far apart your positions are. Use empathic and active listening techniques to understand the other person’s motivations and interests. So not listening is another mistake in professional negotiation principles.

3. Focus on price

Another mistake in professional negotiation principles is focus on price. Business negotiations are often about money. But if you enter into a negotiation process with a fixed price (because you want to reduce or protect that price) you run the risk of leaving the other party behind.

Of course, price is important, but it’s often only one aspect of a deal. Consider what else you can negotiate. For example, you may be able to agree to an exclusivity clause, provide additional services, or improve the terms of your contract.

4. Failure to establish relationships

There may be times when you have to negotiate “cold”, so you don’t know what the other party wants. But try to establish a relationship with the other party if possible. Just small talk can build trust and give you better insight into his goals, ambitions, or even fears about the negotiation process.

There may be difficult conversations ahead, but if you establish a good rapport early, you are more likely to reach a satisfactory agreement.

5. Not knowing your “BATNA“

The term “BATNA” (which stands for “Best Alternative to a Negotiated Agreement”) was coined in a 1987 book by researchers Roger Fisher and William Avery called Negotiating Agreement Without Surrender.

Basically, even if your goal in the negotiation is to get what you want, you need to decide what your next best alternative is. This means you know when it’s best to cut your losses and walk away from that negotiation.

Decide on your BATNA before entering negotiations, and also make sure you know what a “good” outcome is, even if you don’t get exactly what you want.

Having a clear BATNA means you can push harder during negotiations and potentially get a better deal than you bargained for, because you’ve kept your options open.

6. Fear of insult in negotiation

Trying to get the best deal for yourself, your team or your organization can be daunting. You may be afraid of saying the wrong thing, settling the bill too soon, or bargaining. Maybe you find rejecting others’ suggestions embarrassing or stressful.

You can resolve these feelings by remembering the difference between negotiating and arguing. Where each party agrees or disagrees with something, the goal of negotiation is for both parties to come to an agreement. Because both parties want different things, you can only reach a point of agreement by discussing what you are and are not prepared to do, it’s just part of the process.

7. Providing an ultimatum

If you use the words “this is our best and last offer” in your initial negotiations, there is nowhere else to go.

When you give an ultimatum like this, the chances of finding a compromise are slim because you’re pushing the other party back. This approach can also come across as aggressive and domineering, although it is sometimes necessary when the other party is still trying to “destroy” your position. Do it.

However, be aware of the difference between giving an ultimatum and setting a deadline. Experienced negotiators often use artificial deadlines to encourage the other party to make a decision or break the deadlock.

The negative point of this deadline is that it puts you under time pressure. The positive point is that both parties focus on reaching an agreement within the time frame, which can speed up the process of finding a compromise.

8. Trying to win the negotiation

It can be more difficult to come to an agreement if you expect to win completely, even if you entered the negotiation from a position of strength.

The most effective negotiation is one where both sides leave the table feeling like they have achieved something. They may not have gotten everything they wanted, but enough of the deal was worth it.

It is important not to be greedy. If the other party reaches an agreement and this agreement is acceptable to both of you, do not be “tough” and do not jeopardize future negotiations. In other words, know when to stop negotiating!

9. Excessive care

You should care about the outcome of the negotiation, but not so much that you make a bad decision because you feel like you can’t walk away from it. In other words, control your emotions, consider this process as a game.

If you can back away from the negotiation, you will be in a stronger bargaining position if the other party decides again. This is because the onus is on him to improve his proposal.

3 ways to avoid mistakes in negotiation

Negotiation is difficult and stressful. To get what you want the right way, avoid these mistakes:

• Never make assumptions or rush when you are negotiating.
• Do not take the negotiation personally; It’s just business.
• Don’t over negotiate and accept a bad deal just to sell.

No matter what you’re negotiating, it can take a long time to reach an agreement, and in the end, you may not even get what you want.

That’s why it’s important to make sure you’re doing everything right. Even the smallest mistakes can cost you success.

Do you want to complete the negotiation without any mistakes?

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Read these 4 solutions:

1. Do not make assumptions for yourself

The key to a successful negotiation is preparation, and it’s much more than just knowing the numbers.

“Not being prepared to fail sets you up for failure,” says Fletcher. “Being prepared means gathering and understanding hard data, for example, having 360-degree awareness.”

“That means you need to know who the decision maker is and what the other person’s needs, values, hopes and fears are,” says Fletcher. It also means don’t assume that nothing is negotiable.

“Gather as much data as you can and be prepared to ask strong diagnostic questions for further clarity,” he says. The more prepared you are, the better you can proceed in the negotiation.

2. Do not rush

Negotiations take time, especially if you want them to go smoothly. Fletcher advises that you take the time to develop a genuine relationship with the other party.

“Share a small piece of personal information that shows you’re open and willing to connect,” he says. Doing so can transform the negotiation from an adversarial battle to a constructive one.

Also, he believes that you should not be afraid of creating a pause, because this can help you to recover your perspective and eliminate unwanted feelings, and the negotiation does not have to be done all at once.

3. Don’t take anything personally

Fletcher noted that it’s easy to let your emotions get the better of you during a negotiation, especially if it’s something that affects you. But be careful, he says! Being overly emotional hurts your productivity.

His advice for getting through moments of hurt is to “challenge yourself to turn the moments you feel attacked and defensive into moments of curiosity where you can receive the appropriate feedback. Emotions can easily be used against you in a negotiation.”

Fletcher also recommends being aware of your triggers and knowing how things can take a turn in the wrong direction.

4. Do not negotiate too much

If you’re lucky enough to have the upper hand in a negotiation, don’t overdo it, says Fletcher. Think ahead about the consequences of a long negotiation, he said. You may get what you want, but at what cost?

“Don’t put yourself in a position where you can’t get back into a relationship because you’ve overused yourself,” Fletcher says. It will continue.”

Conclusion:

Whether you’re negotiating your salary at a new job, asking for a raise, or overseeing a business deal, negotiation skills are skills every professional need, and it’s not easy.