MS-LP Negotiations Template 12.16.15
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A Framework for Master Negotiators
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What type of Negotiation is this?Lose-LoseWin-LoseWIN WINIf a multi-party negotiation, also:
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DescriptionSomeone wants to hurt you and is willing to hurt himself or herself to do so.Just a transaction. The most common form of negotiation.Both sides gain because the relationship matters more than a single test of wills.You must convince your team and another team to reach an agreement.
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Big QuestionHow many times do I try to signal I prefer a WIN-WIN before moving on? As long as I have a BATNA, I always can walk. My biggest danger is becoming enmeshed in a relationship and hurting my reputation.How can I find discover the other side's reservation price as qucikly and easily as possible.Do I genuinely care about the other person? Can I put my ego aside long enough to listen to the other person's needs? Which individuals or factions on each side must I court to reach an agreement
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How do I prepare? Determine your real interests versus mere positions. Determine your real interests versus mere positions. Shop for alternatives in the marketplace.Determine your real interests versus mere positions. Then set these aside to listen to the other side.Collect interests individually or in smaller groups - remember both sides will need to ratify any agreement.
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How do I execute?Initial impressionFriendly but guarded. Possible upfront about your concerns.Friendly but firm. Do not talk much unless you can convert to WIN-WINGrateful. Humble. Perhaps even a bit bumbling.A gentle moderator.
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Actions1. Establish relationship1. Start with high expectations1. Invest in the relationship - remember, it matters most1. Assign roles - have an observer
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2. Ask questions about interests.2. Anchor high2. Explore their interests as long as possible. Probe emotions and needs.2. Periodically check in and provide progress reports
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3. Look for contradictions or examples of bad faith -- ask direct questions if you sense a mistruth.3. Set deadlines that work for you.3. Define a shared goal to measure progress so you can measure proposals and overall progress?3. Use Win-Win or WinLose approach, depending on the interest.
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4. Ask: "Is that the best you can do?"4. Make offers to help advance shared interests
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5. Be quiet and listen. 5. Create requests that would help you but never offer them early in the negotiation. Focus on the other side's needs.
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6. Table contentious issues for last
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ClosingAre you sure you want to deal with this person?Offer something back instead of being unfair embrace genorousity.)If you have created many shared gains closing is more certain
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Increasingly small concessions signal an end.A Letter of Intent is 50% of the way to close.
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DocumentationYou generally only get three rounds before deal fatigue sets in
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A Letter of Intent is 50% of the way to close.
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Post ClosingRun away and warnyour friends!Offer gratitude. Next time may be a Win-WinOffer something back
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Tips:
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1. You gotta care, but not that much!
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2. Frame the issues and you win.
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3. Always draft the documents.
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4. Many negotiations move from Win-Win to Win-Lose to Lose-Lose as misunderstanding grow - offer patience and generousity to move towards Win-Win
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