Negotiation Gone Wrong: A Common Pitfall to Avoid
Negotiation is an important part of business, personal, and legal relationships. In every situation, it involves two or more parties whose goal is to reach an agreement. A successful negotiation occurs when all sides are satisfied and the exchanged interests are met. Unfortunately, negotiations can turn sour if they are approached without sufficient thought and preparation. When it comes to negotiating, there is no one-size-fits-all formula for success. It’s a skill that must be honed in order to minimize the potential for a negotiation to go wrong.
The Pitfalls to Avoid When Negotiating
In order to have a successful negotiation, there are certain pitfalls to avoid. These may include:
- Focusing on Power Instead of Relationships
The goal of negotiation is to create a relationship between two or more parties without any power imbalances. When one party attempts to overpower the other, the result is often a breakdown in the trust and understanding between them, leading to a failed negotiation.
- Setting Unrealistic Expectations
Setting unrealistic expectations can lead to frustration and disappointment when they are not met. Negotiators should strive to set realistic goals and come up with workable solutions that both parties can agree on.
- Not Listening Carefully
Negotiators must demonstrate that they are actively listening to the other party by paying attention to their words and responding in the appropriate manner. Not listening carefully and not considering their interests can lead to misguided assumptions and miscommunication.
- Not Showing Respect
Negotiators must show respect for their counterpart and listen to their ideas, even if there is disagreement. Avoiding disrespectful behavior or language can go a long way in creating a successful negotiation.
- Jumping to Conclusions
Negotiators should not jump to conclusions or draw conclusions based on limited data. This can lead to misguided assumptions that can sabotage the negotiation process. Instead, they should take their time and thoroughly research the issue and consider the perspective of both parties before deciding.
- Not Negotiating in Good Faith
Negotiators must be clear in their intent and must negotiate in good faith. They should not enter into negotiations with an adversarial attitude or use tactics to manipulate or coerce the other party.
- Taking an Unyielding Position
Negotiators should be flexible in their position and be open to concessions. Taking an unyielding, uncompromising position can create tension and mistrust and result in an unsuccessful negotiation.
Strategies to Help Increase Your Negotiation Success
Negotiation is an art and a science. There are certain strategies and tactics that can help you increase the likelihood of a successful negotiation.
- Prepare for the Negotiation Process
Prior to entering into a negotiation, it is important to thoroughly prepare for the process. This may include researching the topic, researching the other party, determining your interests and objectives, developing a negotiation strategy and plan, and practicing with a colleague or professional negotiator.
- Take Your Time and Establish Rapport
Take your time during the negotiation process and establish rapport by listening carefully and asking questions. This is important in order to understand each parties’ interests and objectives and to build trust and credibility.
- Understand Your Bottom Line and the Other Party’s “Walk Away Position”
Negotiators should be aware of their bottom line — the absolute limit of what they are willing to accept. They should consider the other party’s walk away position and look for ways to bridge the gap between the two positions.
- Stay Calm and Professional
Negotiations can become heated and even adversarial at times. The key is to remain calm, professional, and focused on the objective of the negotiation. Negotiators should strive to keep the discussions and decision making process a positive one.
- Work Toward a Win-Win Solution
The goal of negotiation is to find a win-win solution that meets the interests of both parties. A successful negotiation should leave both parties feeling satisfied and have everyone feeling like a winner.
Negotiation is an important skill that can result in successful outcomes if it is done properly. When approaching a negotiation, it is important to thoroughly plan and prepare for the process and work to create a win-win situation for both parties. It is also important to avoid certain pitfalls that can lead to a negotiation gone wrong. By avoiding these pitfalls and following the strategies outlined above, the result should be successful negotiations that result in mutual benefit.