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Your interests are met
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You create value for both sides
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You build trust and rapport
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You learn from the process
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You maintain or enhance your reputation
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You achieve a win-win outcome
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Here’s what else to consider
Negotiation is a skill that can help you achieve your goals, resolve conflicts, and create value for yourself and others. But how do you know when a negotiation is successful? Success can be measured by different criteria, depending on the situation, the parties involved, and the desired outcomes. In this article, we will explore some of the common indicators of a successful negotiation, and how you can use them to evaluate your performance and improve your skills.
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- Leslie Nydick The Conflict Strategist℠ ⦁ Workplace Conflict? INTRODUCING: The Conflict Tune-Up℠: A Reset to Get Unstuck ⦁ LinkedIn… 5
- Barry Parsons Litigation | Conflict Resolution | Risk Mitigation | Cost Reduction | Information Protection | Problem Solving |… 1
1 Your interests are met
One of the most obvious signs of a successful negotiation is that you are able to satisfy your interests, or the underlying needs, values, and motivations that drive your position. For example, if you are negotiating a salary increase, your interests may include financial security, recognition, and career advancement. A successful negotiation would result in an agreement that meets or exceeds your expectations on these aspects, while also being acceptable to the other party.
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- Asrar Shareef Director MAS International Logistics
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Perfectly said.Successful negotiations depend on each party play it with truth and expect less. Should never leave the core issue.Asrar
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2 You create value for both sides
Another indicator of a successful negotiation is that you are able to create value for both sides, or find ways to expand the pie of resources, benefits, and opportunities that are available. This means that you are not only focused on claiming value for yourself, but also on generating value for the other party, by identifying their interests, exploring options, and making trade-offs. For example, if you are negotiating a contract with a supplier, you may create value by offering a longer-term commitment, a larger volume, or a referral, in exchange for a lower price, a faster delivery, or a higher quality.
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3 You build trust and rapport
A successful negotiation is not only about reaching an agreement, but also about building trust and rapport with the other party. Trust and rapport are essential for establishing a positive relationship, reducing misunderstandings, and enhancing cooperation. You can build trust and rapport by being respectful, honest, and empathetic, by listening actively, by asking open-ended questions, and by showing appreciation and recognition. For example, if you are negotiating a partnership with a potential client, you may build trust and rapport by sharing relevant information, by acknowledging their concerns, and by expressing your enthusiasm and commitment.
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Key part of negotiation is to build trust. The other person need to feel the same so that you can reach common ground and build consensus.
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4 You learn from the process
A successful negotiation is also an opportunity to learn from the process, and to improve your skills and knowledge for future negotiations. You can learn from the process by reflecting on your strengths and weaknesses, by soliciting feedback from the other party and from observers, by analyzing the outcomes and the alternatives, and by identifying the best practices and the areas for improvement. For example, if you are negotiating a merger with another company, you may learn from the process by evaluating your preparation, your strategy, your communication, and your emotions, and by applying the lessons learned to similar or different scenarios.
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5 You maintain or enhance your reputation
A successful negotiation is one that does not compromise your reputation, or the way you are perceived by others in terms of your competence, integrity, and professionalism. Your reputation can have a significant impact on your future negotiations, as well as on your career and personal development. You can maintain or enhance your reputation by being consistent, ethical, and respectful, by delivering on your promises, by resolving conflicts constructively, and by following up and following through. For example, if you are negotiating a settlement with a competitor, you may maintain or enhance your reputation by being fair, transparent, and cooperative, by honoring the agreement, by addressing any issues promptly, and by maintaining a cordial relationship.
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6 You achieve a win-win outcome
The ultimate sign of a successful negotiation is that you achieve a win-win outcome, or an agreement that satisfies both parties' interests, creates value for both sides, builds trust and rapport, enables learning from the process, and maintains or enhances your reputation. A win-win outcome is not always easy or possible to achieve, but it is the ideal goal to strive for in any negotiation. You can achieve a win-win outcome by adopting a collaborative and integrative approach, by focusing on the problem rather than the people, by seeking mutual gains rather than competing for limited resources, and by being creative and flexible rather than rigid and fixed.
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What is a successful negotiation? When everyone feels their needs and interests were satisfied. This is not a quick process because negotiations typically start with positions. It will take time, trust, and much more to learn about each other's interests, and what you really need. When you have an expectation of an ongoing relationship, then there is much more willingness to seek ways to meet each other's needs. There is one moment when I am sure that the negotiation was a win-win. It is the following day when everyone has had a chance to "sleep on it" and we still feel the agreement is win-win.
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7 Here’s what else to consider
This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?
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I’m a litigator so most of my negotiations involve trying to resolve legal claims rather than fostering business relationships. The style of negotiation in litigation is usually much different than a business negotiation. I’m trying to win and win as much as I can while trying to get a deal but making it painful for the other side. The only time I don’t do that is when we have on going business relationships with the other side that we want to preserve. In those situations the litigation is more like a business negotiation.
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