In any negotiation, large sums of money and significant outcomes can be won or lost depending on the skill of the negotiators involved. Successful negotiation requires a blend of preparation, strategy, and stamina. Whether you are a seasoned professional or new to the process, these tips will help you navigate negotiations more effectively and increase your chances of a favorable outcome.

1. Use Strong and Smart Diplomacy

• Be well-prepared and know your case inside out. Understand both your strengths and weaknesses and those of your opponent. Have experienced negotiators on your team to back you up.

2. Pause

• Don’t be afraid of silence. Ask or answer questions and then wait. Avoid the urge to fill the silence or repeat yourself. Just wait.

3. Don’t Bid Against Yourself

• Stick to the negotiation process. If your opening offer is rejected without a counter offer, resist the temptation to make another offer. Wait for the other side to respond.

4. Stand Up for Yourself

• Don’t be intimidated by aggressive negotiators. Know your case and be prepared to stand firm. Aggressive behavior often hides a weak case.

5. Do Not Underestimate Your Opponent

• Don’t make assumptions about your opponent’s abilities. Sometimes, an incompetent negotiator can be more challenging because they don’t understand what a fair outcome looks like. Be prepared for illogical behavior.

6. Allow Plenty of Time

• Negotiations can take a long time. Be prepared to spend the whole day or even longer. Allow for the time needed to soften hardened views and reach an agreement.

7. Do Not Tire

• Stay strong throughout the negotiation, even if it goes late into the night. Take breaks, stay nourished, and maintain your energy.

8. Beware the ‘Scalp Hunter’ Mediator

• Some mediators may pressure you into settling by emphasizing the negatives of going to court. Don’t be bullied into a settlement. Stand by your strong case if you believe in it.

9. Don’t Interrupt

• Avoid interrupting the mediator or your opponent. Listen with intent and empathy. Understanding their perspective can lead to more productive negotiations.

10. Don’t Get Emotional

• Keep your emotions in check. Emotions can cloud your judgment, leading to anger and impulsive behavior, which can damage rapport and hinder successful negotiation.

11. Draft Settlement Terms Carefully

• Pay attention to the details in the settlement agreement. Ensure everything is accurately written and agreed upon before finalizing. The terms must be signed off by both parties at the end of the mediation. Mistakes here can lead to future disputes.

Conclusion 

Negotiation is both an art and a science, requiring patience, resilience, and strategic thinking. By following these tips, you can approach any dispute negotiation with confidence, ensuring that you are well-prepared to advocate for your interests and achieve the best possible outcome. Remember, the key to successful negotiation lies not just in the strength of your case but in your ability to navigate the process effectively and stand firm in the face of challenges.

About the writer 

Adjunct professor Kim Lovegrove is the founder of Lovegrove & Cotton and is a building regulatory law reform consultant with over 30 years of experience. He was the principal Legal Adviser on the development of the Victorian Building Act 1993 and was co-leader of the team that developed Australian National Model Building Act. Internationally, he has consulted for the World Bank on best practice approaches to the design of building regulations in Mumbai, Shanghai, Beijing, and Tokyo, and was retained by the Japanese government on two occasions to participate in law reform think tanks.

Kim chairs the International Building Quality Centre (IBQC), promoting global best practices in building regulation. He is an Adjunct Professor at the University of Canberra and Southern Cross University, and is a Conjoint Professor at Western Sydney University. His Honours include the Royal Medal of the Lion and the Order of the Star of Honour of Ethiopia.

Disclaimer:

The information provided in this article is for general informational purposes only. It is not legal advice. The views expressed in this article are those of the author only and are not to be taken as reflecting the views of any affiliated organizations or entities.