Watching the 1998 film The Negotiator was an eye opener in the way it highlighted the meticulous approach adopted by characters played by Samuel L Jackson and Kevin Spacey. They, of course, dealt with dangerous hostage situations where lives were at stake and it didn’t really occur at the time that negotiation could be carried out with such skill in the boardroom.
However, business negotiation technique can indeed be a finely honed art too and executives who emerge satisfied might have approached their meetings with the mindset of a chess grand master, planning every move in advance while having the ability to adjust when a surprise counter attack is launched.
Executive business coach Dean Williams, who works with CEO’s, Managing Directors and other senior leaders within business to improve performance, has devised a three-point plan to successful negotiating. In a blog piece he calls Pokerfaced – the Art of Negotiation, he breaks it down thusly:
“As an executive business coach I get to work with some truly talented individuals that not only thrive in the ‘battle of negotiations’ but consistently achieve great results. Continuing to work with these professionals I notice three key aspects to how they approach a negotiation.
- They prepare thoroughly
- They understand their ‘bargaining arena’
- They ‘control’ their communication – verbal and non-verbal
They prepare thoroughly: Working tirelessly to understand the other party. Following the PIPPA principle – establishing their position, their interests, their priorities, their pressures and their alternatives. This acute understanding puts them on the front foot.
They understand their ‘bargaining arena’: Intelligent understanding of/creation of what they desire from the negotiation and at what point they are prepared to walk away. Consideration of the other parties ‘breakpoint’ and what they will look to gain from the negotiation. This understanding enables the negotiator to set their stall out at the outset and know where they are able to compromise throughout the process.
They ‘control’ their communication – verbal and non-verbal: They are masters in the art of communication – understanding that the heat of the moment can impact the things that they say and the things that they do. Congruence between what they say and their non-verbal communication is critical – aware that in the eyes of the other party, delivering a message/stating a position is only as believable as their body language. They remove language like ‘we were hoping for’, ‘we would like’ and ‘my opening offer is’ – all of which suggest to an experienced negotiator that there is room for reduction. The key is to select the right language and develop your pokerface!”
If you find these tips helpful remember you heard it here first (possibly).
ACQ Magazine