(Some additional comments on negotiations cont. 5)

Some Tips to Improve Your Negotiation Skills
i) know the endgame (as negotiation involves compromise, you need to know how to prioritise what matters to you
"...You want to outline your boundaries. These are your non-negotiables - what you are not willing to sacrifice. You also want to detail your trade-offs - the items you are comfortable giving up in return for the other party giving you something else that matters more. As part of this, understand the options and how your proposal could satisfy the other person's needs......be deliberate what your needs and what you ask for..."
Michelle Gibbings, 2024a)
ii) do your homework (understand the scope, ie have clear parameters, etc and what's reasonable to request, ie within the range of what's possible; for example, if the negotiatios is about salary, you need to know what the industry's market rates are, ie the  high and low salary ranges of your potential role so that you are able to pitch at the right level.)
iii) leverage (know your points of leverage:
"...If you have something someone else wants and there are limited options to access, then you're in a strong negotiating position......if you are willing to walk away from the negotiating table, you can pressure the other party into agreeing to your demand..."
Michelle Gibbings, 2024a
However, if you are desperate to secure an outcome, it will diminish your bargaining power.)
iv) prepare your mindset (as negotiating is mentally demanding, you need to understand how you will likely feel, think and react during the process; it is best to approach the negotiation on the basis of mutual respect and a willingness to consider different perspectives; a mindset of 'I am right, you're wrong' with an unwillingness to find common ground is less likely to be successful.)
v) frame for gain (use the concept of promotion focus, ie mentally preparing yourself before the negotiation can influence the outcome;
"...the end goal of the negotiations is an opportunity to advance or achieve something..."
Michelle Gibbings, 2024a
This helps you get comfortable with the risks that may be attached.
"...promotion focus negotiators put forward bolder offers at the start of the negotiations, ultimately leading them to achieve superior outcomes..."
Michelle Gibbings, 2024a
"...before entering the negotiation think about the gains you want a secure from a conversation - be specific and aim high. ......don't be afraid to be bold in asking for more than what feels comfortable. You can always negotiate down from your starting position......you can rarely - if ever - negotiate up from a low starting base..."
Michelle Gibbings, 2024a
NB Negotiations require give and take; identify what matters most to you; you may need to give up something to get what matters most to you.
vi) be prepared (keep in mind the negotiation process and what steps are required to secure an agreement
"...running through possible scenarios and outcomes will enable you to respond better as issues or objections arise during a conversation. As you prepare, consider
- How will the negotiation process unfold?
- What might the other person say?
- How might they react and respond when I ask them for all this?
- What may be the likely objections?
- How will I respond to those objections?..."
Michelle Gibbings, 2024a
vii) build relationships early and long (as early as possible aim to build good relationships with the others you are negotiating with; take the long-term view; seek to understand the ot her parties' perspectives, ideas, points of view, operating style, agenda, needs, interests, what they care about, etc
"...the more you understand those involved, the more insight you will have into what they are likely to support or reject..."
Michelle Gibbings, 2024a
Aim for a 'win-win', ie all parties walk away from the negotiations happy, ie their dignity intact and feeling they have done well.
If any party feels ill-treated, this will have ramifications later on)
viii) manage the energy (anxiety is a natural emotion during negotiations and can have a negative impact on your effectiveness; researchers have found
"...people who were anxious made weaker first offers, responded more quickly (and less thoughtfully) to each move the counterparty makes, and were more likely to exit negotiations early. This ultimately made deals that were 12% less financially advantageous..."
Michelle Gibbings, 2024a
It is best not to negotiate when you are tired and/or under stress.
Use techniques, like breathing deeply, to help calm you down, ie will help slow down your heart rate, making reflecting and responding calmly easier.
NB Negotiations can be unpredictable and you have to be ready for this.)
ix) back yourself (develop the courage and conviction to back yourself; remember that you have the right to express your wants and needs; have the resilience and resolve to see the negotiations through.)