Negotiating like a SharkPart 1

Blog Shark Tank presents:

Season 5Issue 3

By: Jeff HopkinsOwner at BlogSharkTank.com

Table of ContentsGetting To Yes

Preparation

The Four Crucial Steps

Effective Communication

Controlling Emotions

Part Two Teaser

Getting To Yes

Almost everything discussed in this presentation is elaborated on in “Getting to Yes” by Roger Fisher and William Ury.

I highly recommend buying this inexpensive book and reading through it before conducting any serious negotiation.

Preparation

Preparation is around 85% of any good negotiation.

Here’s how to prepare:• Know your underlying interests and positions• Form your plan and opening statement• Be ready to listen to what the other party has to say• Know your method for handing emotions• Understand your strengths and weaknesses• Create a method of reaching agreement• Form a BATNA (Best Alternative To a Negotiated Agreement)• Enter the negotiation as a problem solver

The Four Crucial Steps

Separate the people from the problem• Be soft on the people, hard on the

problem• Proceed independent of trustFocus on interests, not positions• Explore interests of each party• Look past the positions or titles

Invent options for mutual gain• Develop multiple options to choose from• Don’t be narrow-minded

Use objective criteria to reach a decision• Reach a result based on standards, not

just will• Yield to principle, not pressure

The Four Crucial Steps

Effective Communication•Speak clearly•Speak to be

understood•Speak about

yourself•Don’t over-

exaggerate•Don’t speak to

argueSpeaki

ng

Clarify• To get additional or

more accurate information

Reflect• To show that you

understand and care

Encourage• To get the other

party to open up and say more

Restate / Summarize• To check accuracy

and confirm

Explore• To examine the

situation and consider options

Effective Communication

Effective Communication

Body Lan-

guage; 60%

Tone; 20%

Words; 10%

Watching hand gestures and listening carefully to tone are even more important than the words themselves.

Controlling Emotions

Three ways to deal with emotions during a negotiation:

1.Recognize and understand both parties’ emotions

2.Acknowledge emotions as being legitimate, but don’t react to outbursts

3.If need to let out steam, take a quick recess in the negotiation

Part Two TeaserHere are some points which will be addressed in the next presentation:

Types of Conflict

Positives of Conflict

Positional Bargaining

Barriers to Effective Negotiation

Dirty Negotiation Tricks

Influence and Power

Coming Up Next…

Negotiating Like a Shark, Part Two

Choosing the Right Shark as a Partner

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