5 Golden Rules of Effective Negotiation - Part 1

Very useful for all MBAs.

Rule #1 - Always Ask
You never know what you can get—not unless you ask for it. This rule covers everything you want, and everything you think you may want. So many of us do not get what we deserve simply because we do not ask. Because of this, negotiation should be thought of as one of the most-used tools in your life. We negotiate daily for the things that we want and need.

Rule #2 - Know What You Want
It is difficult to have a successful negotiation if you don’t know what you want out of it. Are you attempting to get something? Get rid of something? Once you have considered the possible outcomes, you can decide how you will respond if it does not end up in your favor. Just as you should know what you want, you should also know what you don’t want. What is totally unacceptable, your deal breaker? Having a clear vision of the desired final outcome on this mutual agreement will make it easier for you as you work your way through the negotiating process.

Rule #3 - Prepare for the Type of Negotiating You Will Be Doing
Les Brown said, “It is better to be prepared for an opportunity and not have one, than to have an opportunity and not be prepared.” Understanding the different types of negotiations will determine how much preparation you will need. There are five types of negotiations and understanding them will determine how much preparation you will need.

Negotiation is a win-win situation...Not always somebody has to lose and somebody has to win...Negotiation is the middle path where both the party wins.

Rule # 4 and 5 will be coming shortly..Stay Tuned...