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The Art of Negotiation in 535 words
I want to get better at negotiation, but where to start? UK Amazon currently has 2332 books on negotiation. Google indexed nearly 4 million relevant (yeah right) pages. All I need is a simple, straightforward model that I can put to use now. Phased by the glut of information, I went within and remembered the wise teachings from a senior manager in my early working life. So, come closer, listen up, because he was very wise indeed? He said "Do you know your LIMits?" "My what? said I cautiously, wondering if he was asking about my drinking capacity, driving speed or something equally off the wall. Being worldlier than I, he noticed my confusion and helped me out. "Lyndsay, if you want to be successful in life, you need to know your LIMits. Let me explain. What would you Like to have? What do you Intend to have? What Must you have? What are your LIMit's?" Slowly it dawned on me that he was talking the strange management language of mnemonics. He wrote down the word for me like this. L And next to the letters he wrote L like to have: your number 1, top of the pile, best outcome (The I,T and S are irrelevant, just convenient additions to prevent asking what your LIM are!) Testing the Theory And so ended his lesson. Off I scampered like the eager young graduate I was, itching to put this into practice. Thinking about a possible secondment opportunity I wrote the following: Like 10% bonus, new laptop, mentoring with new senior manager The final deal I struck landed somewhere between Like and Intend, with a few perks I had not even considered, so I felt it was a success. Why Negotiation Works There are a couple of reasons why simple models are useful but often forgotten. The LIMits negotiation model encourages flexible thinking in that there are 3 potential good outcomes. Compare this with the most common alternative - success or failure and you can see there is only 1 measly good outcome. You don't have to be a gambling pro to work out which approach is best! The secret of the LIMits model is if you don't meet all the criteria for success, then the opposite is not failure, just a different outcome. The other benefit of using the LIMits negotiation model is it forces you to prepare, gaining you vital spare capacity when you are in the thick of the negotiation. You will be clear about your position and better able to get that across. As I demonstrated, simple models are forgotten because we seek out newer, shinier ideas in books, the internet or from other sources. Reduce information overload by re-using what you already know or recycling an old idea into one that works today. Old knowledge is not always redundant. So, negotiate that new job, better deal or contract. All you need is to know your LIMits.
Lyndsay Swinton is an experienced team leader, people manager and business coach. Her website is www.mftrou.com - 'Management for the rest of us'. Subscribe to her free no-nonsense Management Tips newsletter at mftrou.com today.
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a href="http://www.elearn-university.com/Careers/coaching/index.php" class="nav">Coaching A One Stop Financial Solution Amy Wright, 34, was extatic when her realtor showed her the three bedroom townhome overlooking the lushious golf course. It was exactly the home she was looking for. The interior was sunny and bright, with a newly remodeled kitchen, spacious bedrooms, and the perfect little study area to set up her new home office. It had a spectacular pool and a lovingly tended flower garden. Best of all-the seller had to move immediately, so the home was a steal and miraculously within her budget! Amy was already making moving preparations when suddenly, a devastating blow paralyzed her plans. Her credit application for a mortgage had been denied. She could not understand how this had happened-just a year ago, her credit had been almost perfect! The last year had been a little tight, and sure she had a few late payments here and there?but she had no idea it was so bad that now she could not even get the home of her dreams. Negotiate to Your Advantage The hardest and most important part of any negotiation is knowing when to walk away. Negotiating Skills: Ask For More Than You Expect To Get It creates some negotiating room, and you might just get what you are asking for. Embarrassed To Discuss Your Prices? Seven Common Reasons We Cant Talk About Them Last week, a wonderfully-skilled electrician installed a new light fixture for us. He was competent, courteous and efficient. He answered all our questions simply, with skill and eloquence. I was amazed, as you might imagine, when I asked him, "How much do we owe you?" and his embarrassed reply was, "Gee, is $50 okay?" So Whats Your Argument? Arguments aren't always bad things. Sometimes They're used to convince someone of an important point they may not yet realize. While Youre Waiting Not long ago, I made a partnership pitch, on behalf of an organization I represent, to another organization with similar interests. If the idea had come to fruition, it would have radically changed our organization. Business: Keys To Negotiating Well Whether it's buying a car, asking for a pay rise, saying 'no' to a friend or renting an apartment - at some stage in our lives we all are going to need to know how to negotiate. Yet, so few of us know the basic skills before embarking on life changing purchases or decisions! These 8 keys will assist you negotiate well. Negotiating Skills Will Get You Ahead Negotiating skills can help you manage lots of different kinds of life situations, both at work and in your personal relationships. Here are a few examples of where these skills can help you build an even better life for yourself: Games are a Reflection of Behavior You are standing on a small stage yelling, "What's the name of the game?!" Barter and Its Benefits What is Barter? Barter involves 2 parties. Each party wants to trade with each other and instead of exchanging cash for products or services, the exchange is carried out with products or services that each possesses. That is, there is a trade of a product or service that someone has, in return for another product or service the other party has. Neogtiation: How to be Right Without Making Other People Wrong What exactly are we trying to accomplish by proving to others that we're right? We might win the argument but ultimately lose the relationship. Perhaps a better, deeper-rooted question is this: Why do we lose sight of success, of our big objective, when we feel challenged or intimidated? The Six Rs for Changing MInds and Overcoming Resistance This article borrows from Howard Gardner's book, "Changing Minds" (2004). In order to get people in conflict to cooperate or collaborate sufficiently to settle or resolve their differences, and perhaps achieve reconciliation, it is necessary that they change their minds. The reason they are in dispute is because they are of two different minds about a particular thing, which is what they are fighting over. People do not change their minds easily. Some people are prepared to be burned at the stake, literally, rather than change their minds, or admit to a change of belief. People cling to the artifacts of their own minds with great stubbornness. This is called resistance. When a mediator seeks to bring parties together, she will encounter resistance. If there were no resistance, if changing minds was easy, there would be no need for mediators. Making the Deal: Women as Negotiators Negotiating is no game. It is not for the weak or the fragile. It takes assertiveness and someone who feels comfortable in the mano-a-mano world of business. Can women negotiate the deal as well as their male counterparts? Absolutely! In some cases, they may even do a better job. Women have a definite edge at the negotiating table because of their instincts and natural power of persuasion. 30 Tips for Keeping Meeting Expenses to a Minimum Money makes the world go 'round. And when it comes to meeting planning, money can probably get you whatever you want. However, few event planners have the luxury of an unlimited budget. Your boss may like to drink champagne on a beer budget. In other words, caution you to spend less, but expect miracles at the same time. Can a Service Be a Commodity Well Enron dealt with this a little for instance an intangible such as the available bandwidth in fiber optic lines. So what is a commodity in a service business? Well, a commodity could be considered are capacity to wash cars for a mobile car wash business like the company I own, the additionally created capacity coming from increased efficiency in studying production rates. In a service business, increased efficiencies will allow more time to do more work and thus make more profits from additional work. Negotiating Tactics: Don't Let ?Good Guy Bad Guy? Control the Sales Negotiation Counter one of the classic negotiating gambits by addressing it directly. Dont Be Afraid Of Silence In any conversation with two or more people, there is a tendency to want to talk all the time to fill any awkward silences or gaps that appear in a conversation. Negotiating Technology Contracts Have you ever tried to negotiate a deal for software, computer equipment, or consulting services with a technology company? The task can be daunting. Unfortunately, the sales forces of most IT companies are armed to the hilt with techniques to get the best deal for them, and not necessarily the best deal for you. And even worse, most of us computer folk (like myself) have never been trained in the art of negotiation, so it can be difficult to spot a snake in the grass. Before you begin negotiating a technology deal, know what you are getting in to. Determine Your Rate And Negotiate Carefully With Unreasonable Clients Consultants who offer executive assistant or computer services on a virtual basis must know their value and be prepared to gauge their billable rate to meet the circumstances. Just Ask! Ask and you shall receive & knock and it shall be opened &send an email and see what happens.
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Comment by Robert Holleyman