How to succeed in negotiations

Successful negotiation relies on a combination of thorough preparation, interpersonal skills and proven strategies.

Here are some tips from professional negotiators, backed up by concrete examples and scientific data, to help you optimise your negotiations. 

1. Prepare thoroughly

Thorough preparation is essential to understanding your objectives, those of your counterpart, and the possible alternatives. Effective negotiators devote more time to planning, which significantly improves the results achieved.

Here are the key points on which you should gather as much information and data as possible before entering into negotiations:

• Your specific objective with a list of satisfactory alternatives
• Your MESORE (Best Fallback Solution)
• Possible concessions (low, medium, high)
• The psychological profile of your contact person(s)
• Context and external factors
• The best time to negotiate

2. Establish a relationship of trust

Creating a climate of trust encourages open and constructive dialogue. The Harvard Business Review emphasises that negotiators who ask open-ended questions and listen actively achieve better results without compromising the interests of the other party.

Example: When talking to a supplier, start with small talk, then ask questions about their challenges and needs, showing your willingness to understand their perspective.

Rephrase what he says in the form of questions to get him to open up more, and label his emotions so that he feels understood.

3. Use the anchoring effect to your advantage

The’anchoring effect consists of influencing the negotiation by making the first offer, thereby establishing a benchmark. Research indicates that the initial offer has a significant influence on the outcome of the negotiation.

If you are selling a product, offering a price higher than your target can steer the negotiation in your favour. 

However, ensure that you remain within the ZAP (zone of possible agreement) of the negotiation so that your offer is not so excessive that you simply lose any chance of reaching an agreement.

4. Control your emotions

Managing one's emotions and understanding those of the other party is crucial. A study published in the Journal of Business Research reveals that emotional intelligence is positively correlated with negotiation effectiveness. 

The sometimes stark difference between our perspective and that of the person we are talking to can quickly lead us to become overwhelmed by emotions.

If a proposal seems unacceptable to you, pause briefly, rephrase the other party's statement, return to a common goal, and then conclude with a carefully worded «How» question: «How can we reach a mutually beneficial agreement?».

5. Seek win-win solutions

Rather than viewing negotiation as a confrontation, seek mutually beneficial agreements. Understand the underlying interests of each party to identify opportunities for collaboration.

Explore alternatives during negotiations, but remember: conditional reciprocity is essential!

1 concession made = 1 concession in return

Example In commercial negotiations, offering flexible payment terms instead of lowering the price can satisfy both parties by reconciling liquidity needs and favourable conditions. The effort required on the part of the customer to benefit from this financial advantage must also be defined and explained.

By applying these strategies, you will increase your chances of conducting successful negotiations based on mutual understanding and respect for each other's interests. 

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