Negotiating for a Win-Win

FountainBlue's August 31 Front Line Managers Online program was on the topic of 'Negotiating for a Win-Win'. Please join me in thanking our panelists. 

• as an Operations Leader - Bhavya Vaidya, Lam Research  

• as a Marketing Leader - Matthew Robinson, Contentsquare

Our esteemed panelists had a wide range of backgrounds and experiences. They are masterful chess-players who focus on both delivering bottom line results while also building relationships, networks and ecosystems of contacts.

Below is a compilation of thoughts and strategies they shared on how to better negotiate.

Be Respectful

• Consistently communicate with patience and respect, especially when emotions run high.

• Accept that it's not always easy to negotiate, but it's always a part of work/job/life, so find a way to respectfully remain engage through negotiations.

Be Mindful

• Know yourself, your abilities, needs and interests.

• Manage your emotions and your triggers, remaining centered, positive and professional.

Be Strategic

• Start with the end in mind and work backwards from there.

• Factor in short-term and long-term objectives.

• Consider the timing and the battleground.

• Remain centered on and mindful of the overarching goals.

Communicate Transparently and Clearly

• Communicate with authenticity and transparency.

• Clearly spell out implicit and explicit needs.

• 'Peel the onion' to better understand the root cause for a stated position.

• Package how you communicate your offering/position.

• Confirm that everyone is on the same page.

• Continue ongoing communications throughout the negotiating process.

Leverage the Network/Work the Relationship

• Develop and grow relationships of trust, for that is foundational for successful negotiations.

• Escalate up the chain to someone with the authority to respond and support a negotiated position.

• Use your political capital wisely.

• Identify and work with the 'king-makers'.

• Balance the giving and the taking, ensuring that the relationships are valued, as they are more important than any one negotiation.

• Build relationships, networks and ecosystems before you have an urgent need.

Be Other-Focused

• Understand the perspective and motivations of all parties involved.

• Keep peeling the onion to identify the root cause of a stated position.

Speak to the Data

• Define what success looks like based on specific metrics.

• Leverage the data to make the case for your position.

• Include data throughout the negotiations for 'without the data, it's just another opinion'.

Other

• Consider consulting a neutral party if both sides are entrenched.

• Be open-minded about other approaches/out-of-the-box ideas for reaching a win-win agreement.

• Bundle what you're negotiating.

• Offer a 'sacrificial lamb'. 

The bottom line is that negotiating is a part of life, and strategically planning and executing on a negotiation will ideally create win-win scenarios for all parties involved.