You may know that when you enter into a negotiation—whether for a contract, a customer sale, or some other reason—you need to know what it is you are hoping to get. You do need to know the reason for the negotiation and have in mind what you would like to come away with. BUT, you also need to know what you are willing to give up. The more prepared you are in advance; the more likely you are to come away with a satisfactory result.
Next to good communication skills (both verbal and non-verbal), I think that knowing what you want to get and what you are willing to give up is the key to successful and productive negotiations. Whether you are working on a contract with a client, a sale with a customer, or trying to get products and services from a vendor—you will need to be a decent negotiator. Entering into the conversations knowing what you are willing to compromise on or give up to the process, and what you are not willing to compromise on will help you to stay calm and focused.
Give and take is important in any negotiation. It is not about “winning” and being the person who does not have to give up anything. In fact, the more skilled you are at negotiating, the more you are able to contribute to a situation where each party walks away feeling like a winner. Sure, you will most likely have to give up something of value, but so should the other side(s)—if you have a good idea of what those negotiables are for you in advance, you can have a calm, community-building negotiation and come away with what you want. The happier the other parties are improves your chances of building ongoing alliances.
Also: Getting in the Right Frame of Mind for Negotiations
Finding Things You CAN Agree On