Negotiations Training

Sage Advice:
The Wise Negotiator

Some professionals simply have an uncanny knack for negotiations. They take a methodical and intelligent approach that apparently pays dividends on a regular basis and allows them to, more often than not, take part in negotiations that truly lead to mutual satisfactions. These individuals have a certain wisdom that many are lacking. They've acquired it in one way or another - most of the time, simply through that wisdom that comes with a great deal of experience.

What are the habits that we tend to see displayed by these types of negotiators? Listed below are the five most common habits of wise negotiators:

* Focus on the Long-Term - For some reason, even some negotiators with decades of experience fall back on the tendency to try to dominate the other party. These negotiators have left a long trail of hard feelings, burned bridges and enemies who have no desire to do business with them. Over time, this tactic will catch up with you as word does get around. Wise negotiators focus on the long-term and know that to build goodwill, a wide sphere of influence and a long track record of success requires a long-term focus. Understand the consequences of your actions. Are you seeking to win the battle without knowing that you may force yourself to lose the war? Immediate wins may lead to bad outcomes down the road. Always think about the long-term consequences.

* Focus on the Details - No matter the size of importance of a negotiation, wise negotiators make sure that all the details are covered before signing off an a deal. This means that the appropriate paperwork must be clear, free from ambiguities and thorough. That is, all items agreed to must be included. Making sure that all the loose ends are tied will save many a future headache.

* Know When to Walk - Some deals are just not worth making. The consequences may be too damaging in terms of cost, commitments or a company's reputation. Wise negotiators can spot when a deal is not worth pursuing. Whether at the negotiating table or even before discussions begin, wise negotiators are always asking themselves, "how will this affect my company?" This question will allow them to determine if what is taking place is in their best interests. If they can walk away from a negotiation knowing that any possible damage is less than what they would otherwise face by agreeing to a deal, they will do so.

* Stand by Your Principles - We all have certain principles that guide us in our daily life and in business. Wise negotiators stick to their principles because they know it is the right thing to do. If the other party is making a request that will require you to act unethically or in a manner that violates your principles, company policy, accepted standards, etc., don't succumb to pressure. Stand by your principles and you will always win in the long-term.

* Understand Timing - It doesn't matter if you're dealing with a family member or an executive, there is always a good time and a bad time to make a request. Wise negotiators know the difference between the two. Regardless of how important it may be to ask for a particular concession, they time their requests in a manner that will provide them the greatest chance of success. Asking for a concessions when someone is in no mood to make a concession is not a wise idea. Know the difference and understand when to make request.