Negotiating is a difficult task for all participants in business processes. A lot depends on them and you can’t come unprepared. If you have little experience in this matter or want to play it safe once again, then it is better to use the services of an international law firm. So you will receive guarantees and be sure of a successful transaction, you can also get all the necessary advice and ask questions of interest to qualified experts.
Exploring the context
The main advice is to study in detail the context in which the negotiations will be conducted. It is important to remember four main points that determine further actions:
— Geography. In different territories, the preparation for negotiations will be different. For example, when buying a business in Kazakhstan, the style of dialogue will be one, in the UAE – another.
— The level of negotiations. Depending on the level – internal or external – the tactics and techniques of negotiations may vary. If you are negotiating with colleagues or a boss, this is an internal level; if you are negotiating with international counterparties, this is an external level. On an internal level, you can share some details, such as legal details.
– The reality of intention. Negotiations can be real or fake. Fake negotiations are conducted in the case when there is a task to obtain more information to build your negotiating position, and no decisions are yet ready to be made, i.e. at the current stage there is no intention to agree on the interests of the parties.
– Negotiation format. Communication can be carried out with the participation of the coordinator and other persons, or unilaterally.
Gathering the necessary information
A good negotiator always tries to find out as much additional information as possible. When concluding a business deal in another country, he learns all the details about the characteristics of the market, its dynamics, and is not just content with the basic facts. When talking with a business partner, he studies in detail the views of the opposite side, his interests. At first glance, an insignificant trifle can be decisive and important, so you should pay attention to everything.
Compiling an alternative
Before you sit down at the negotiating table, think about the alternative. What would be the alternative plan? If you don’t have an understanding of what to do when things go wrong, the other side will sense it and you will lose your initial advantage.
Determining the negotiation strategy
Depending on the type of negotiations, it is necessary to choose the right strategy. Sometimes you need to go for a confrontation, sometimes – for cooperation. Choosing the best one is one of the tasks of a good negotiator. What influences the choice of the optimal strategy? The first is the context in which you and the other side are. The second is to maintain good relationships. Third, your opponent’s negotiating style and personality type.
Focusing on time
In the negotiation world, you need to be able to manage the concept of time. For example, during negotiations, you may not react quickly and get to the point for a long time, and your opponent will have time to come up with an alternative behavior or a new strategy during the same time, and you will lose. To stay in the black, think in advance how much time you can spend on your arguments, on the opponent’s arguments and on additional agreements.
