A Winner’s Guide to Negotiating

A great negotiator “sets the stage,” “finds common ground,” “asks with confidence,” “embraces the pause” and “knows when to leave.”

Effective negotiation is a conversation – a relationship that takes time to build. Study the other side’s decision makers to understand their fears and desires, and the limits of what they will or will not do. Each stage of a negotiation tests the relationship between negotiators. Regardless of your past experience, your ability to negotiate depends on establishing trust slowly and intentionally. Be aware that trust can break easily. If you must negotiate with someone you don’t trust, document your discussions, stick to the facts, and be “curious and empathetic.”

Negotiation is an art with the components of a science. The best negotiators gather as much data as possible, but also use intuition and instinct. Your ability to negotiate depends on how well you undertake the following five steps. Throughout, try to build trust, which is the core of each step.

Before entering a negotiation, do your homework.

Doing your homework and learning the basic facts are half the battle in a successful negotiation. Many...