Come Up With Some Possibilities Before Making A Decision
Having options in negotiating is very valuable, because when you have options, you have choices. Granted some would rather have that ONE RIGHT ANSWER because it’s easier. Choices enhance our ability to choose the best alternative. Wouldn’t you agree? So many times we, as people, are so focused on the “one right answer” that we forget that other alternatives do exist that may serve better.
It can be a number of reasons why we think there is only ONE SINGLE ANSWER in negotiating whether it be our premature judgment or whatever else it may be. It can probably be because we just want to come to terms and go on about our lives. Let’s talk about ways of developing alternatives in negotiating.
Brainstorming
We couldn’t get any simpler than that. Brainstorming with the other side (As well as with yourself) can prove extremely valuable. Joint brainstorming has great advantages of producing ideas that take into account of the parties involved. Brainstorming creates an environment of problem solving, and educating each other about your concerns. It’s good business practice to give 2 alternatives to a decision to avoid appearing committed to an idea.
Expert Opinion
This is another way to generate multiple options. Obtaining advice from different experts and professionals is very valuable if it is at your disposal. Professionals are professionals for a reason (or at least we hope).
Look for Mutual Gain
Doesn’t it seem like in negotiating that some one is always trying to “Stick it to the man”? Or if one wins, then the other loses. Maybe in marriage (I am only joking), but in negotiating there is one thing that you must remember as a consumer. The other party wants to finalize a deal just as badly as you do, if not more. One way to go about looking for a mutual gain is to identify each others shared interest. Inventing an idea that meets their interest as well as yours is great for both parties (Lesson 3 elaborates how to identify interest).
As far as looking for mutual gain goes, when a price is presented to you. Always ask, “CAN YOU DO BETTER?” in a non-threatening, mutual manner. Chances are they can do better.
Make Their Decision Easy
We do not mean making threats to the other party. At times it may be tempting. You want to propose the other side with a choice that is as painless as possible. It only helps their decision a lot easier. Making their decision easy is as simple as understanding their interest (Lesson 3). When you present them a choice to make that appeals to their interest and merits, or at least as close to it as possible, it makes their decision easier, and an agreement will be reached.
Conclusion
Having options allows you and the other party a higher probability of selecting the best alternative that best suits you and the other side. This is the last of our Negotiating Lessons but we STRONGLY ENCOURAGE e-mails about any other negotiating tips that you would like to share, experiences, and suggestions. We may post them on our website so that others can benefit from one another and learn. Negotiating is a skill that we all need to be familiar with. Some individuals possess stronger negotiating skills than others, and we would honor the opportunity of reading your e-mails on your negotiating tips so that we may share them with others. Thank you for reading all 4 lessons and we look forward to your responses.
For more information visit http://www.hachefinancial.com
Tags: advice, Agreements, Bargaining tips, Basic Negotiation, Business Negotiation, Consumer negotiation, money, Negotiating, Negotiating Lessons, Negotiating tips
