092: Power of Preparation in Negotiations

If you’re looking to up-level your negotiation abilities, and if you’re like most people, you’d go looking for tips on negotiation tactics. In fact, the most important element of effective negotiation is preparation. Sadly, it’s typically the most over-looked element in the process. The cost for that oversight is high.

 

In this episode, you’ll first explore the perils of failing to properly prepare for negotiation. Let’s uncover why preparation is important and the pitfalls of ignoring the process. Then we’ll turn to some simple solid strategies you can use to boost your preparation effectiveness.

 

Preparation is power in a negotiation. In fact, some experts suggest that preparation accounts for 45% of ones’ success in bargaining. Preparation first involves preparing yourself – doing the inner work necessary to be able to show up as the best version of yourself. Also be sure to consider the other party. Prepare for how to best deal with each individual negotiation counter-part. Once you’ve mastered that, then turn to the process of the negotiation and how you can best utilize process for best outcomes. Then comes the preparation for the substance or matter of the negotiation.

 

Negotiation at its heart is about the art of influence and persuasion. Preparation enhances your ability to do both. Your success in negotiation largely depends on the quality of your preparation.

 

And remember, all of life is a negotiation so you can apply these models to great effect in both your personal and professional life.

 

Cindy shares her signature trilogy of simple models as an essential part of the preparation process for all your negotiations (both personal and professional).

 

NO F.E.A.R. Negotiating model.

 

When you approach your negotiations without Fear, Ego, Attachment, or Reactivity (F.E.A.R), you’ll have more control, ease, clarity, confidence and perspective – all of which will help you keep your eye on the outcome to increase your chances of getting what you want, or more. 

 

5 W’s to Effective Negotiating.

   

We’re taught to implement the 5 W’s in investigative endeavours, yet most people don’t invoke those 5 little words – who, what, where, when & why – in their negotiations. That’s a mistake. Those who consider the 5 W’s with intention set themselves apart and get better results.

 

A.R.E. F.I.T. model.

 

I created this simple mnemonic to help you remember the key skills you’ll want to bring to the negotiating table with intention. A.R.E. F.I.T. Just think, you ARE FIT to be a great negotiator.

 

What are the 6 secret ingredients to launch your negotiating prowess?

 

A Assertiveness

R Rapport-building

E Empathy

F Flexibility

I Intuition

T Trust

 

 

Your success in negotiation largely depends on the quality of your preparation. These new models are additional tools in your toolkit. Apply them in your personal and professional life. The more you practice the easier it will become and the faster you’ll be able to do them. They will become habit.

 

And remember, all of life is a negotiation so you can apply these models to great effect in both your personal and professional life. Following this preparation template will get you better outcomes, better buy-in, better relationships and longer-lasting agreements.

 

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