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Four Rules for Effective Negotiations

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Four Rules for Effective Negotiations …
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Anthony Tjan
On: Entrepreneurship, Strategy, Managing yourself Anthony Tjan

Anthony Tjan is CEO, Managing Partner and Founder of the venture capital firm Cue Ball. An entrepreneur, investor, and senior advisor, Tjan has become a recognized business builder.

Four Rules for Effective Negotiations
8:30 AM Tuesday July 28, 2009 | Comments (19)

I've been involved in many negotiations in my career. They've all been different in some ways, and alike in others. But through them all, I've identified four "golden rules" to be the most helpful towards productive negotiation outcomes. The rules parallel different stages of a negotiation: 1. The background homework: Before any negotiation begins, understand the interests and positions of the other side relative to your own interests and positions. Put these points down and spend time in advance seeing things from the other side. 2. During the process: Don't negotiate against yourself. This is especially true if you don't fully know the position of the other side. Much is learned about what the other side really wants during the actual negotiation process. Stay firm on your initial set of positions and explain your rationale but don't give in too early on the points. Wait to better understand which points are more important to the other side. 3. The stalemate: There will often come a point in a negotiation where it feels like there is zero room for either side to budge. Two sides are stuck on their positions and may have lost sight of the overall goals of the negotiation. Emotion may have overtaken logic at this point. If you recognize that...

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