| Never enter into any agreement or negotiation | | | | hints and tips. Someone whom you can use eye |
| from a point of desperation. The moment you | | | | contact with to determine whether you should |
| show how desperate you are, you disarm | | | | proceed or not. Sometimes when you are alone |
| yourself of the bargaining power. The value of the | | | | negotiating with a panel you lose on the basis of |
| transaction will be compromised by your | | | | numbers as you may have 5 active brains thinking |
| APPETITE & APPARENT desire. Rather stand | | | | ahead of you. |
| back, gather yourself & your thoughts & | | | | Do not rush to make the decision - Always |
| reschedule the talks. Often we place a PRICE tag | | | | look at the negotiating party directly in the eye |
| on goods based on our NEEDS. No one desires to | | | | and avoid being bullied into making a decision here |
| spend more than the real VALUE of product or | | | | and now. The push must never be just to ensure |
| service. As African businessmen, politicians and | | | | the agreement is signed off without the parties |
| the like we have missed the POWER of | | | | taking ownership of the decisions they are |
| EFFECTIVE NEGOTIATION hence time, value and | | | | making. Whenever there is a rush, it must flag |
| resources have gone to waste. Where we | | | | within you that there could be something hidden in |
| potentially could have reaped $millions, we have | | | | the agreement. Take your time. You don't have |
| settled for a few $thousands which of course | | | | to sign instantly. |
| could pay a few bills and get an economy going. | | | | Understand the time factor - There is always |
| Question stands whether we adequately | | | | a time conducive enough for negotiations to take |
| CALCULATE and PLAN and PREPARE for | | | | place. You will not negotiate effectively when you |
| negotiations, deals or agreements or we see the | | | | are in a hurry or when there is fatigue on either |
| dotted line as the partying of the red sea, an | | | | side of the negotiation table. Depending on how |
| imminent breakthrough and forget the FINE | | | | tense the negotiations can be, it is healthy to call |
| PRINT. I have watched with great interest how | | | | for a "time out" so that you regain yourself. |
| sudden bursts of joy at the signing of MERGERS | | | | Avoid emotional bargaining - Separate your |
| between companies and political parties, even | | | | own emotions from the issue being negotiated on. |
| churches have turned into a series of mourning | | | | When you become angry or over excited you |
| experiences as the dotted and signed document is | | | | lose your composure and negotiating power. |
| ACTIVATED. Before you can have the famous | | | | Avoid attacking the person but look at the |
| handshake to signal an agreement, consider your | | | | matter under negotiation - There is a tendency to |
| actions closely. Decisions you make at this point | | | | address personalities at the expense of the |
| have long lasting effects on where your | | | | matter under discussion or negotiation. While it is |
| organization will be in the next foreseeable future. | | | | important to know the kind of person you are |
| Realize that those who have entrusted you with | | | | negotiating with, the issue on hand supersedes |
| the negotiations responsibility bank on you to | | | | personalities. |
| make decisions in the best interest of the | | | | Pay attention to detail - In the event that |
| organization. | | | | you get documents in the meeting without prior |
| Here are a few negotiation guidelines | | | | reading, it is important to read the fine print or |
| Do some research and investigations on the | | | | give a specialist within your team to scrutinize |
| other party before the meeting. Check trade | | | | while you discuss. The fine print is usually the |
| references and outcomes of previous | | | | source of all problems in any negotiation. |
| agreements the other party entered into. Use | | | | Be prepared for compromise - Before you |
| your checklist of non-negotiable to determine if | | | | get into a negotiation process, you should know |
| you should proceed with negotiations. It may not | | | | both your best case and worst case scenarios, |
| be necessary to enter into any negotiation if the | | | | the benefits and demerits of each case. You |
| other party fails the "non-negotiable" test in | | | | should obviously start the negotiation by putting |
| advance. | | | | on the table your best case. As you bargain, a |
| Prepare questions in advance which seek to | | | | little bit of compromise is necessary but not to go |
| get clarity on any clauses on documents you | | | | below your worst case scenario. I have heard it |
| have previously received. Get your legal | | | | said that "in a negotiation, both parties must leave |
| representative to look into and review contracts | | | | feeling like they won some and lost some". |
| or agreements. Preparation entails anticipating | | | | Never make your desperation apparent to |
| questions and answering them before you engage. | | | | the other party - It is important to do a SWOT |
| It entails presenting your best case and | | | | analysis of yourself and your team that you are |
| alternatives when called for hence it is important. | | | | going with. Once you know your strengths, you |
| There is nothing wrong in preparing for a | | | | will not let someone with no deep knowledge of |
| stalemate position and how to break beyond it. | | | | the current issue on the table lead the discussion. |
| Go into major meetings with a witness(es) or | | | | Do not expose the weaknesses you may have |
| people who can help with discussion. This could be | | | | as the other party will ride on that making your |
| your Personal Assistant or senior Manager in your | | | | proposal futile. |
| team. You may need someone who can give you | | | | |