Host: How can I practice negotiation skills that let both sides win?
Sean McArdle: The most important thing in letting both sides win in negotiating is to understand upfront what it is that is most important about the negotiation to you. So, I always advise my students right from the gate go, write down exactly what you want, nothing less, do not except anything less. Number two- exactly, what am I willing to pay to get this and step number three is what do they expect and what are they willing to pay for it. So, you want to look at the other side as well.
So, in a Win-Win negotiation where each side gets something that they want, you have to clarify for yourself before you ever start in, This is what I want. Too many times people go into a negotiation, they get feeling let down like they are not getting what they want and they just cave into the other person s demands. I believe that if you have written out in advance exactly what it is I am willing to get, exactly what it is I am willing to pay for that thing, then you know that those are lines that you will not cross in the negotiation.
Now, that is win for you. In order to make it a win for them, you have to find out exactly what it is they want and exactly what it is they are willing to pay for it and see if you can live with that. If you can, then you have got a Win-Win, if not, you have got to keep negotiating until you get there.