(Some additional comments on negotiations cont. 5 a)

Tips

Some tips in negotiating

- what degree of unreasonableness is acceptable?

Remember: it is more important to be respected than liked when negotiating. Thus it can be hard negotiating with a friend, especially if the friend is taking an extreme position that you regard as unreasonable.

"...The most successful people in business often aren't reasonable......to be a successful leader in business you have to give up the human desire to be liked. This doesn't mean you should become a nasty person, but you have to be willing to accept that sometimes the outcome of your decision is that people won't like it...... in negotiations, there is a danger that people will compromise their position in an effort to be liked or to be seen as nice..."

Steve Vamos as quoted by Rebekah Campbell 2019

- you need to understand the other party's objectives and purposes to accommodate and develop a balanced position where everybody wins. Be prepared to say "no"

- if the other party says "no", you need to identify the reasons so that you can find ways of overcoming their objections. A clever way of doing this is to explain why you wouldn't deal with yourself, and if they agree,  then work on ways to overcome these reasons

- make sure your facts correct, eg understand the market, etc

- approach your negotiations with confidence

- be realistic

"...When a deal is complete, both sides should feel relatively the same - willing to accept the terms with neither side getting exactly what they wanted. If one person feels that they got a great deal and the other a bad deal, then you probably haven't struck the right balance..."

Steve Vamos as quoted by Rebekah Campbell 2019

. To become a good negotiator, you need to learn to read the other party's needs and realise that all parties need to gain something of value

. Generally social media is the enemy of the powerful, established elite as it gives power to the masses, ie they have access to information in real time that previously was the reserve of the elites. On the other hand, there is a need to understand the importance of silence, ie
"...appreciate the tactical advantage that comes from not telegraphing your every waking thought..."
Bryce Corbett, 2016

. It is almost impossible for a negotiator to do too much preparation