3 Things to Have in Order Before a Negotiation

Negotiations come in all sizes and like art you decide what’s significant. There will be times to prepare for negotiations and others where you have to play the hand you’re dealt. At all times it’s important to be mindful of the impact this negotiation has on your ecosystem of resources. 

To level set this think piece let’s begin by defining what a negotiation is then we’ll get to the fundamentals. 

Negotiate [verb]: to confer with another so as to arrive at the settlement of some matter, to deal with, to arrange for.

Whether you’re facing the known or unknown in this negotiation, your power is in your choices.

Here are 3 ways to position yourself for negotiations. 

3 P’s of Identifying Your Needs 

To negotiate what’s best for you, you need to identify what you need from a big picture and day to day standpoint. 

As a first gen and a high performer it is easy to forget to prioritize your needs. Before you can be an effective problem solver, you need to solve yours to lead by example and to be pouring from a full cup.  

To begin considering what you need, consider the place, priority and pace of all parties. 

Place

Which direction are you headed? What’s your reason for putting all of this energy into this path? Are your actions aligning with your trajectory? 

This type of forward thinking is how you make the best use of your power. Power shows up differently for entities; it may be your drive, reason or purpose. Companies manage their power by aligning their resources toward their mission and visions. You need to do the same as an individual. Identify where you are headed so you can make your time, energy, relationships work out the best scenario for you. 

Priority

 This is your biggest reason for spending your time and energy on something. It’s meant to be singular not plural on purpose. Focusing on multiple things at once increases your chances at being average and dilutes your urgency. 

Knowing your priority is key when you negotiate, especially if you’re a corporate consultant. In professional service industries, consultants use the BATNA framework to identify the priority and likelihood of getting a yes. BATNA stands for Best Alternative to a Negotiated Agreement (Source: Harvard). Not centering your priority is where resentment breeds. Prevent yourself from future heartbreak by knowing your priority. 

Pace

The rate of movement. The speed of negotiations moves fast and changes per environment. You can get left behind quickly or caught up in a bottle neck like in traffic. Knowing the place you're headed and priority before you enter a negotiation helps you keep up with the pace. 

Negotiations are about power. The end game is to get the negotiation to work in your favor. Use all three to play your best hand no matter the circumstances. The goal is to always prepare for a yes.