The hallmark of an effective leader is to stay calm even in the midst of a storm. One of the finest examples of effective negotiation as a leader is Don Draper, the fictional character from the TV series - Mad Men. The persona of the character is what helps him persuade and negotiate his way through various situations in the advertising world.
Similarly, negotiation is one of the key leadership qualities. Whether you are finding an amicable solution, mediating a challenging meeting, working on a contract or negotiating new terms with your employer, it’s always important to have your training for negotiation skills.
Effective negotiation skills apply to client and vendor interactions as well as internal and external communications. Once you gain experience in advanced negotiations, navigating your way through a difficult conversation would be a lot easier.
Here are a few effective leadership negotiation techniques -
1.Know your crowd:
Whom are you negotiating with? The parties involved & what are their interests? What is their background and in which way it will affect the negotiation?
In short, getting to know whom you are about to deal with, is the preliminary step in leadership negotiation.
2. Plan ahead:
“Failing to plan is planning to fail.”
An effective discussion is built on preparation. Knowing the other negotiators as stated above, establishing your goals and objectives, and assessing your options are all parts of the extensive planning process. This also includes gathering data, information and other resources that might be in your favour for a successful negotiation. Successful leadership negotiation is highly reliant on whether you are fully aware of the situation and the key data points of your conversation.
3. Timing is the key:
You must stress the significance of timing in leadership negotiations. Negotiations may and should be time-bound. It's important to know what to ask for and when to ask for it. Sound training for negotiation skills includes knowing when to advance and when to pull back. It's good to push and obtain what you came for when everything falls into place. But pushing too hard might have a detrimental impact on how long the negotiation lasts. Take your time but make sure that you don’t let go of the opportunity.
4. Listening is your weapon:
Listening and hearing are two distinct processes. All of your preparation, methods & techniques will be ineffective if you don't actively listen. You will occasionally run upon issues that need to be fixed while the opposing party only wants to be heard and understood. Negotiation is a process that requires learning and cultivating meaningful conversations. It occasionally has unforeseen results and shocks. Pay attention and wait patiently while listening actively for any ideas that might help the negotiation process move more smoothly.
5. Keep your emotions in check:
Emotional intelligence can enable you to control any scenario, whether you are at home with your family or closing a business deal. Understanding both your own and the other person's personality is a skill for effective leadership negotiation. Remember that emotions affect how we think and if they get out of control, they may easily ruin a successful negotiation in no time! So beware!
6. Make it a Win-Win:
From a leadership perspective, it is inevitable to make sure that a successful negotiation should result in a win-win situation. Remember that most of these negotiations involve people you regularly collaborate with. So, the concept is easy to understand but its implementation is not so really. This is where you need to learn practical techniques that can help you to put this principle into practice.
Not to miss out, develop empathy and make an effort to see things from the other person's perspective.
7. Close it like a pro:
Any negotiation should close with a brief summary or a recap of all the pointers and action points discussed. This will provide confirmation of whether everyone understood and are on the same page. Effective leadership negotiation ensures that it’s best not to leave any unresolved issues or enquiries as a surprise for later.
Negotiation and leadership go hand in hand. The technique itself has several applications. You may succeed in negotiations by developing a strong plan, and how you prepare for every negotiation will ultimately determine your success.
Advanced negotiation training will have a major impact on leadership negotiations. This training helps in navigating through various types of negotiations as well as improving your confidence.