| How can you 'create' power and leverage for | | | | think about alternatives when we realise that we |
| yourself in negotiations? | | | | are in a deadlock or in a difficult position. |
| Is there a way that you can counter the power | | | | The problem with thinking about alternatives late |
| held by your counterparts in negotiations? | | | | in the negotiation process is that we might find |
| There is a way that you can consistently create | | | | ourselves in a position where we have no time |
| power for yourself whilst at the same time | | | | left and then we may be forced to accept an |
| countering the power of your counterparts. If you | | | | outcome we would have preferred to avoid. |
| consistently apply this technique, you will be | | | | The key to successfully developing alternatives is |
| rewarded with a significant improvement in the | | | | to do so even before you start negotiating. |
| quality of the deals that you close. | | | | 2. We do not really invest ourselves in creating |
| Much has been written about the power that can | | | | alternatives. Whilst we may think about |
| be found in negotiations. Here are some examples | | | | alternatives, often we do not put in place specific |
| of the things that might provide you with some | | | | actions to develop these alternatives. |
| power: - Status & position (you or your position | | | | It is very important that once we've identified |
| may be held in high regard) - Physical appearance | | | | possible alternatives that we actually actively |
| (you may be very big physically or be deemed to | | | | engage in exploring these alternatives.If you want |
| be physically attrractive) - Organisational position | | | | both power and leverage in your negotiations, |
| (your organisation may be considered powerful) | | | | then you will have no option but to explore fully all |
| Whilst the aforementioned are examples of some | | | | the alternatives available to you. |
| of the things that may confer power on you or | | | | As a matter of fact, you may even have to |
| your counterpart in negotiations, without a | | | | invent some alternatives if there seems to be no |
| shadow of a doubt, the single most effective | | | | alternatives available. |
| way to create power for yourself in negotiation is | | | | Remember that successful negotiations and |
| to create alternatives. | | | | creativity go hand in hand. |
| You will never have as much power in a | | | | Here's a word of warning though. |
| negotiation as you will have if you are not | | | | You should carefully think about whether you |
| restricted to one option only. If you can place | | | | should let your counterparty know about the |
| yourself in a position where all you have to do is | | | | alternatives that you at your disposal. If you are |
| choose between options, then you will always | | | | in a very competitive negotiation environment |
| ensure that you have both power and leverage in | | | | then there is not much harm in letting your |
| negotiations. | | | | counterpart know that you have many |
| The funny thing is that whilst we do think of | | | | alternatives available. |
| other options when we negotiate we tend to | | | | However, if you are in a collaborative |
| make 2 key mistakes: | | | | environment, it may be best to not openly reveal |
| 1. We think about the alternative options too late | | | | the alternatives available to you as this may have |
| in the negotiation process. Typically, we only start | | | | a counterproductive impact on your relationships. |