Six Steps For Negotiation Preparation
by John Patrick Dolan

Themost commonly overlooked aspect of negotiation is preparation. There is no more profitable expenditure of time than the timespent preparing to negotiate. There are several steps to take in this process.

First, know what you want and dontwant. Most people have a general idea of what itemsthey want or dont want in a deal. Unfortunately, general objectives tend to render generalresults ... leading to second guessing and dissatisfaction.

Instead, write a paragraph describing in detail what you wantand dont want from the transaction. Then, edit this description until it islaser focused and precise. When the objective(s) and rationale(s) are crystalclear, it is more likely the process will achieve desired results.

Second, know what your counterpartwants and doesnt want. Write a detailed descriptionof what the other party is looking for and seeking to avoid. This exercise tendsto be a real stumper ... and eventually a real eye-opener. Knowing a counterpartsgoals, objectives and sought after results reveals commonalities that lead tocreative solutions.

Third, identify possible concessions.This means knowing what is absolutely necessary toachieve in consummating a successful bargain, and what terms, conditions andextras could be excluded. Every great negotiator knows there must be give andtake on both sides for agreements that make sense.

Next, know the alternatives. Itis hard work to seriously analyze all the alternatives. In negotiating for a rawmaterial purchase or a contract service, there are several questions to startwith. What other suppliers could offer the same or similar products or services?Could you produce the item yourself? Is producing this product the best use ofyour resources? Could you talk with someone else at the same company if therelationship with the current rep is not working?

In comparing alternatives, remember to use the same questionsand objectives to ensure accuracy in the comparison. Speaking the same languageregarding the possibilities will reveal the strengths and contrasts among thealternatives.

Next, know the counterpart andsubject matter. A lot of information is availableabout personality styles, body language and neuro-linguistic programming.Transactions take place between people ... and people view the same facts andappeals differently.

Subject matter is simple. There is no excuse for being illinformed, and lost credibility is rarely recovered.

Finally, rehearse. Asthe saying goes, the way to get to Carnegie Hall is practice, practice,practice. Its the same road to negotiation success. Attend swap meets andflea markets to sharpen negotiation skills. Once learned, its use it or loseit.

Most negotiators rarely, if ever, thoroughly prepare tonegotiate. But this is the magic! Try this checklist before you negotiate. Yourreturns will improve dramatically.

John Patrick Dolan, the author of NegotiateLike the Pros, mastered his negotiation skills throughhis successful career as a trial lawyer. Through his firm LawTalk, Dolan trains other legalprofessionals on how to excel in this crucial skill and art. Information isavailable online at www.negotiatelikethepros.com.