The success of your negotiations depends to a large extent on the preparation phase. This is where you think about the desired outcome of your negotiation.

And there is a lot to prepare. In this video I show you everything you need to include in your negotiation preparation.

The preparation phase is the first step in the basic negotiation process.

Watching this video is worth 4 CPD points towards management courses*.
(See below for further details)

This video is part of the course module number 5.2.1
Program 5: Managerial Skills
Course 2: Negotiation
Section 1: Basic negotiation process

More videos on the Fundamental Negotiation Model are:
. Basic Negotiation Model – https://youtu.be/PKz4pDm1e90
. Preparation phase – https://youtu.be/Adr9STSP2FI
. Opening phase – https://youtu.be/TzVSihe5vmA
. Negotiation phase – https://youtu.be/4mOK_Z6VbX0
. Negotiating team roles – https://youtu.be/UyLq0MsSvv0
. Final phase – https://youtu.be/mLXtLRPuTXE
. Follow-up to negotiations – https://youtu.be/ln5DTgcUg1c

After this set, pay attention to 5.2.2 – Key Concepts for Negotiation

Class notes
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When preparing for negotiations, you should consider the following three main aspects:
1. Goal: What you want to achieve
2. Objectives: Measures of success
– What?
– How much?
– Conditions?
3. What is your lower limit, your exit limit?
BATNA = Best alternative to a negotiated agreement

Room for negotiation
Compare what you want with what you think they want
In which areas are you flexible?
This will give you your negotiation parameters.
The most important thing is to know the value of everything:
– To you
– To them

Start the negotiations with a high starting position
. Do not prepare for a compromise before you have to
. You need 3 positions:
– an initial (ideal) position
– a (realistic) target position
– a BATNA (fallback)

Do your research before you negotiate
– Story
– People
– Context
– Culture
– Politics
– Data

Plan your negotiation process
– Options and alternatives
– Discounts
– Problems
– Long-term considerations
– Meeting tactics
– Location
– Sequence
– Opening
– Dealing with setbacks
– Team roles (future video)

RECOMMENDED EXERCISE
======================
1. Before your next negotiation, create your own negotiation preparation checklist in your negotiation notebook. Like a series of pre-trial checks, this should contain everything you need to do before the negotiation begins. Use the content of this video as a framework and supplement it with your own experience. (2 MC CPD points)
2. Go through your checklist the next time you have a negotiation. Check off the items you have completed and document your conclusions. Add to and improve your checklist over time. (4 MC CPD points)
3. You may also want to watch our video on “Scope for Agreements”: https://youtu.be/cb1Bf09p2eg

DOWNLOAD
===========
Free resources
– CPD Tools – https://gum.co/MC-CPD
Paid resources
– Management Course Onboarding Kit – https://gum.co/MC-ObK ($3)

LITERATURE RECOMMENDATIONS
=====================
Negotiating Smartly in Business and Technology (A Basic Introduction) https://geni.us/a2n1T6Y
Everything is Negotiable) (A Basic Introduction) https://geni.us/Ozwwr
Getting to Yes (the classic text) https://geni.us/U3CjduK
Getting Beyond No (the sequel to Getting Beyond Yes) https://geni.us/VQAd7
Negotiating for benefits (another classic) https://geni.us/anBn
Negotiation Genius (Modern look at the negotiation mentality) https://geni.us/cBKKn3x
Never compromise (hot tips from a former hostage negotiator) https://geni.us/YBSogJ

Management courses continuing professional development points (CPD)
=======================================================
You can record your CPD points for management courses in our free downloadable CPD record log.
Download it here: https://gum.co/MC-CPD

Each video has two levels of MC CPD points. For this video:
– If you simply watched the video, you will receive 4 MC CPD points
– If you have also completed all recommended exercises, you will receive a total of 10 MC CPD points
___

Note:
Links to our book recommendations are linked via Amazon

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