digitaldatastorage.blog/understanding-the-basics-of-negotiation-and-how-it-applies-to-startups/
Negotiation is the process of settling disputes using different views and objectives. If you’re a naturally negotiator, or need to learn how knowing the basics can assist you in learning how to claim value and create as well as handle fairness concerns to be successful in achieving a result.
You should prepare for a negotiation by defining your objectives and obtaining the necessary information and data to reach them. This preparation enables you to anticipate potential counter arguments and create strategies to achieve your goals.
Understanding the needs of other parties, including their concerns, desires and desires is vital to anticipate possible objections. You must also be able to express your own preferences and the motivations behind them. If you do that you will appear more convincing and credible.
Finally, you should be willing to compromise, within the limits of reason. A rigid approach at the beginning of negotiations isn’t the best way to go, as it could be seen as a lack of desire to reach an agreement. Instead you should be prepared to concede on something you value but only if it’s match by the other side’s interest.
Another important element of preparation for negotiations is to determine your walk-away point (your BATNA, or best alternative to a negotiated agreement). This will assist you in deciding when to end the discussion, since you won’t be able to keep negotiating to try to reach an equitable agreement if the other side is in a state of despair.