Win-Win Negotiation

              "There is value left on the table in most of the negotiations". 

^{Even though we may not realize it, negotiation is part of everyday life. We often think of it as bargaining, but it is a way of creating more value by the value exchange to create a win-win deal for both parties.} 

^{Here are three takeaways that will help negotiate better.}

1.      Self-awareness 

Soft negotiators overestimate their assertiveness while tough negotiators underestimate it. Be aware of your emotions it’s a game of mind and heart.

2.      Preparation 

Work out a strong best alternative option to fall back in case of a no-deal. Research the reservation point and best alternative of another party. Set the most ambitious target point which can be justified.

3.      Perspective-taking 

Expand the value pie by active listening to find out opportunities to create value for another party and think from their perspective. Build trust by staying positive about the possibility of a deal.

Thanks a ton to professor Stephen Boyle for delivering the most valuable module in a highly engaging manner. One of my core goals in pursuing an MBA was to improve my negotiation capabilities.

#management #negotiationskills #leadership #winwin
My MBA lessons: Ni3 - Three insights from Nitin