The Key Factors For A Successful Negotiation

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Participating in a negotiation can be a Herculean task – IF you don’t know exactly what you are expected to do. Before participating in a negotiation, you have to ascertain that all the key factors required in this activity exist. As a negotiator, you should also know how to drive a hard bargain. For successful and effective negotiations to occur between two or more parties, these key factors must be present.

Willing and effective negotiators

A negotiation cannot succeed without willing and effective participants. All significant individuals playing a primary role in the activity must be eager and truly interested in the negotiation. When the negotiators are not focused and are just going through the motions half-heartedly, most likely, the collaboration would also be haphazardly accomplished.

Freedom of expression (language comprehension)

There must be freedom of expression in which all the parties can understand each other clearly – meaning they speak the same language. Language barrier can be a humongous problem to overcome. In cases where the language is different, there must be a method devised to communicate clearly. This will enable groups to comprehend what each one is saying.

This is one of the major reasons why some countries do not always cooperate with one other because of the language barrier.

Appropriate venue

The ambiance of any event will definitely affect the process being conducted. This has been proven by various research studies undertaken by numerous organizations from all fields of endeavor. Certain studies conducted in the academe had proven that the venue is a significant part of learning.

Complete knowledge of what the negotiation is all about.

Participate in a negotiation – ONLY – if you have complete knowledge of what it is all about. If you don’t, and you are tasked to join the table, you have to do your own research and learn the details of what you are expected to negotiate. You can benchmark to determine the norms in that particular area.

Doing a thorough research and gleaning all the vital information can grant you more leverage and power. With knowledge comes power, and this power will allow you to gain more concessions from the other party/parties

Specified short term and long term objectives

Setting objectives for your negotiations will serve as the blueprint for your success. What is your primary goal and what are your sub-goals? The ultimate goal and the alternative goals should be clearly defined. Up to what extent are you allowed to negotiate?

Alternative choices of actions

Alternative choices/goals must be prepared so that they can be utilized whenever necessary. We call these contingency plans.

Correct attitude

This is one of the key traits that negotiators must possess. When negotiators have a positive frame of mind, this will attract good vibes and will result in genuine cooperation between the negotiating parties. Remember, one of your targets is to maintain good relationship with the other party despite differences of opinions.

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