“Each party should gain from the negotiation” – Andrew Carnegie
What is the least practiced, yet the most important skill to have as a leader or a business owner? It’s the skill of negotiating!
Whether you’re an expert or a neophyte to negotiation, you always want to learn and practice the essentials, just like a professional athlete consistently practices their craft to win at their game.
Work the Fundamentals First!
One of the most important first steps in negotiations is to clarify and identify the interests of each party (Harvard Program on Negotiations, Feb. 2018).
Clearly identifying both your interests and the other person’s interests makes it possible to notice options for agreement. And, equally important, you become aware of strengths and weaknesses in what is being offered or asked.
Knowing all your interests and the interests of the other party will help you to create the maximum value in the deal. This will not only benefit you in your pocketbook, but also make you happier knowing you have met most or all of your interests in the agreement.
Watch this short video where I explain the different and critical elements of listening for interests.
Take Action for Success!
Start intentionally practicing to master the fundamentals of listening for interests before your next negotiation. Remember, when you practice in smaller negotiations, you’ll be prepared for the bigger deals.
To your success,
O’Leary Logan & Team Renaissance
PS: We can help you build your negotiation and leadership skills to grow your business and achieve your goals. Contact us for an appointment.