Some detailed important do's and don'ts while conducting negotiations are given hereunder.
Do's:
- Know your authority as a negotiator and that of your counterpart.
- Get the other side to commit first.
- Prepare a memorandum of what happened after each negotiation. Also prepare interim summaries as agreement is reached on individual issues.
- Use your team of experts.
- Be patient. Remember the 80-20 rule. 80% of the concessions are given in the last 20% of the negotiations.
- Understand how to interpret body language.
- Ask open-ended questions if you want information. Invariably, a question which demands a „yes? or „no? answer cannot be followed up or reopened for discussions.
- Be an active listener.
- Ask for more than you expect to get. It gives you more negotiating room.
- Position the most difficult questions last. You are more likely to get concessions as negotiations drag on.
Don'ts
- Never give up chunks of negotiating room upfront.
- Never reveal your position, strategy or tactics to anyone outside those who absolutely need to know. ? Do not make concessions without getting something in return.
- Do not try to become well liked or popular with the other side during negotiations.
- Never allow more than one person to talk at one time.
- Do not allow your team to be separated even during breaks or lunch.
- Never let the other side see disagreements among your team members.
- Avoid entanglement on personal issues.
- Do not go with your best offer upfront. By giving your best offer towards the end of the negotiations, you raise the chances of the feel-good factor in the other party.