Organisational transformation Singapore

Negotiation 101-The lowdown on the knowhow

The Lowsdown On The Know-How
Debunking the Myths

Say the word ‘negotiation’ and often enough the image of money exchanging hands comes to mind. While this is true, negotiation happens more times than we expect it to be. In our waking hours, we negotiate at least once every hour and we simply fail to distinguish them. From getting your 6-year-old to eat his vegetables to buying a house, effective negotiation is an irreplaceable life skill.

Compromising is what we often do when faced with a conflict, but this is no different from negotiating. The usual perception of a negotiation is that of a fixed pie of goodies that will result in one party being the ‘winners’ while the other, the ‘losers’. Obliterate such a belief from your mind; you are better off without it. Negotiation are opportunities for both parties partaking in a deal that leave them better off, both with hefty shares of pie if cut right.

To be successful in any negotiation, the very first rule to adhere to is analysis and planning. While you may not be keen in planning because it might give you less flexibility during a negotiation, this is an important step in order not to be caught short of an unanticipated proposal by the other party. Efficient planning gives you a good gauge what is important and what you can let go off in a deal.