Still More Negotiation Techniques

The first of this continuing list of negotiation techniques is perhaps the most common of all; the compromise. But as you shall see, how you do it makes all the difference.

12. Compromise

The compromise is one of the essential elements of negotiation. Both sides expect to have to compromise on many points, and it is the easiest way to settle a difference. How you arrive at that compromise, though, is crucial.

For example, it is common in buying a car for someone to say something like, "Look, we're only $600 apart now. You want $6,500, I would like to pay only $5,900. Why don't we split the difference? I can come up to $6,200 if we can settle this now." Of course, if the buyer was insisting on $4,900, then "splitting the difference," would mean a price of $5,600. That's why it's important what you do before the compromise.

Extreme initial positions help here. This can be too obvious though, so you may want to also negotiate for other points that are of little concern to you, just so you have something to "throw back in the pot" when it's time for a compromise. In the example above, you might have previously talked the seller out of keeping his fancy car stereo, just so when he hesitates over the proposed compromise, you can say, "Look, why don't you keep the stereo, and I can write a check right now." The compromise is certainly the most common of these negotiating techniques, but it has to be done right.

13. Memorandum Of Agreement

A memorandum of agreement, even when non-binding, has value as a negotiation technique. You put in writing what was agreed to, and people are then more hesitant to change their minds. Follow up any negotiating session by sending the other side a memorandum, spelling out what was agreed.

Later in the negotiation, if they say something that contradicts the previous agreements, pull out the memorandum. Use it to win something. Say something like, "I see here that we had settled that point... but if we could have... we could accept that change in our agreement."

14. Find The Right Person

Find the right person to negotiate with, and your negotiations won't be a waste of time. You also want to find the right people to talk to about important issues and information. The decision maker may not know what his accountant knows, for example, and if you get that information from the accountant, you can tell the person you are negotiating with, "Your accountant tells me..."

15. Be Persistent

If you are having trouble getting what you need using your negotiation techniques, keep trying. Try a slightly different approach on each attempt. Sometimes just returning again and again to the same request can wear don the other side. They may say yes just to keep things moving along, or one of your slightly different approaches may give them something they need.

Continues here... Negotiation Tips - The last of the tips, techniques and tactics.