Negotiation Skills Recap

Facilitator: Mesfin Asfaw, Managing Partner at Paradigm Consultancy

The session was a stimulating and educational one. The facilitator, Mesfin, began by emphasizing the importance of showing interest in other people because people like to be understood and appreciated. That’s when they’ll be willing to listen to what you want.

Negotiation is a process for reaching an agreement with other parties so that you can achieve your goals. He suggested “The 7 Habits of Highly Effective People” to help you understand the way these efficient people think and achieve their goals. “Seek to understand before being understood.” It’s helpful to read books about negotiation.

The way to make your life better is not just to work harder but to work smarter. In business, you don’t always get what you deserve but what you’ve negotiated for. In addition, it is very important that you know when to negotiate –timing is essential. You can’t approach someone when they’re in a negative state and expect the odds to be in your favor. Everything is negotiable if you know how and know how to engage.

When negotiating, it is important to know the subject matter, prepare a strategy, gather a team or reach out to your network, pay attention to the other person’s words & actions to figure out what they want and connect your needs to theirs. Never agree to something because you have “no choice.” This will leave you vulnerable and trapped. A no deal is better than a bad deal.

Major takeaways:

  • Develop negotiation strategies. Your negotiation strategy is about how to best achieve your objectives and targets.
  • Do your research
  • Expect the unexpected
  • Give space. Do not corner
  • Figure out a win-win situation. Try collaboration instead of competition Complimentary people are more likely to get farther than similar. Trust, creativity, understanding, and maturity is important for any negotiation.
  • Time: is a resource. Time is a tradable commodity. You might be doing the right things at the wrong time.
  • Information: if the other person knows you and your weaknesses more than you do, you lose. Make sure you are knowledgeable about the subject matter so you always have the upper hand.
  • When you have a strong network, you increase your negotiation power.
  • Never underestimate or overestimate your power: Be part of the solution instead of the problem.
  • Have confidence in yourself. Think logically, and don’t take things personal. That’s how you give away your power.
  • Understand your objectives and requirements. You need to think of the other side meaning try to predict their moves. Use a SWOT analysis to create a course of action.

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