Negotiation Tactics

The first video that I watched was related to entrepreneurship and negotiation as a supplement to our material at Full Sail University.  What I learned from this first video was that if we don’t write stuff down, negotiations go smoother if everything is written down, every time you have a meeting.  Some advice given was to write a quick email about what came from the meeting and having one spot with a folder with all of the correspondence regarding each project.  They discuss that if a negotiation can not be made, that utilizing BATNA(Best Alternative To A Negotiated Agreement will be a course of action taken to fall back on.  The first thing the video talks about is to develop a list of actions to take, converting the best alternatives into action, and lastly, selecting which option is the best.  When you go into negotiation you and the client wants to get the best out of it but if nothing can be reached, then you have a dilemma.  This strategy is a great way to come to a common ground.  Being aware of the best alternative is crucial to the success of the negotiation process.

When it comes to operating my own organizations, I will need top- notch negotiation skills to compile my product lines, and deals with real estate.  I may not always be able to come to a definite negotiation agreement with my suppliers, or with banks regarding a piece of property.  I will utilize BATNA negotiation to use for the more difficult negotiations where both of us cannot come to an agreement about an offer or cost for my organization.  By finding the BATNA, both sides can be mutually satisfied. 

The next video I watched was a TED talks with William Ury, “The walk from no to yes”.  William describes how we deal with our deepest differences.  He also mentions that it is extremely easy for us as humans to react, but urges us to sit down and talk about things.  We should come to a perspective that we are able to keep our eyes on the prize.  In positional bargaining we look at a series of positions and alternative solutions while ordering them sequentially according to the desired outcome.  This is then sent to the other party to reach an agreement

I may have to utilize positional bargaining if my resource that is being negotiation is limited to time, money, or some sort of psychological benefit.   I may also have to utilize positional bargaining in my real estate company because the other party(banker, investor, etc.) may want to maximize the share of a fixed sum of money.  If I were to put in for an offer for a piece of property that is below what the bank is asking for it, I may need to utilize this negotiating strategy.  The bank wants a lump fixed sum and I am trying to negotiate them down.  Lastly, positional bargaining can be used when current of future relationships have a lower priority than the immediate gains from the negotiation.   If my current bargaining tool is considered to not have enough leverage with the other party, I may not get the intended results of the negotiation.

The last video that I watched was a Debra Stevens negotiation skills video. She is the owner and coach at Dramatic Training Solutions.  Her company is a leader of sales and management training in the UK.  She reveal’s some great thoughts about handling dirty tricks in negotiation. 

There are a number of dirty tricks that the other party may impose in a negotiation. Some of these are threats, exaggerated assertions, chicken, bogey, intimidation, and take it or leave it, to name just a few.  How one handles these dirty tricks can determine the success of a negotiated agreement.  Some of these dirty tricks may require us to separate one self and emotions from the problem and even call the opponent out on their tactics.  The first step is to recognize it, the second is to ensure the party understands that dirty tricks are not to be tolerated.

Personally, I have dealt with many of these dirty tricks.  Recognizing them seemed to be half of the battle to reaching a conclusion and having the opponent know that its unacceptable.  I realize the deeper my businesses penetrate the market, which I will have to uncover many of these tricks for what they are.  In negotiating contracts for an artist, or for my parts from my suppliers.  Calling the opponents bluff will toughen my skin to ensure that as a professional business woman, that I will not tolerate being walked over.  I need to stand firm on my values, morals, and ethics, in my organizations, and need to oppose anything contrary to them. In doing so, my employees, and the stakeholders of the company will develop a deeper respect for the organization.