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Negotiation Skills Training: Preparing For And Dealing With Complicated Business Negotiations Using Best Practice Preparation Techniques
The critical negotiation skill required to unlock the best value from complex commercial negotiation environments is to identify and understand the interests of all the stakeholders affected by or taking part in the negotiation. In some cases, it is easy to understand both the positions & interests of parties in the negotiation. In most cases, however, it is not only difficult to identify the interests of stakeholders; it is also difficult to identify all the key players.
How to negotiate in complex, multi-party negotiations?
1. Identify all the stakeholders in the negotiation
This may seem obvious but in reality, it is often hard to spot and track all the stakeholders in a negotiation. In a business environment, we should at least attempt to identify the following stakeholders:
a. Financial stakeholders
These are the individuals or groups that will finance, underwrite or give permission to reach an agreement based on the financial terms proposed. It is key to identify all potential parties that may have an interest in the purely financial aspects of the negotiation.
b. User/consumer stakeholders
These are the individuals or groups that will execute and support the outcome of the agreement that is reached. These are the parties that will live and work with the result of the negotiations on a day to day basis.
c. Technical & legal stakeholders
These are the individuals or groups that will sign off and approve the technical and contractual dimensions of the negotiations.
d. Guides/Gurus & other Influencers
These are the people or groups that hold significant influence over the pivotal decision makers involved in the negotiation.
2. Identify the interests of each participant in the negotiation
There are primarily two methods to identify an individual or group's interest in a commercial negotiation. The first way is to put yourself in that individual or group's shoes and to attempt to see things from his/her/their perspective. What supporting data would you need? What precedents would come into play? What assumptions can you make, and validate? The second way is to ask the individual or group a series of questions to help you (and them) to accurately identify their key interests. The most useful question to ask is "Why?" "Why is this negotiation important to you? Why are you assuming this position? Why are these options being explored?"
3. Create a frame that is appropriate for each stakeholder
Having identified the interests of each stakeholder party, you should now position the appropriate frame. Different people reach decisions for different reasons. It is not useful to highlight the same points to support decision making to all participants. You should focus on communicating the most appropriate frame to each stakeholder or potential stakeholder.
4. Create an effective management structure for the negotiation
If our counter parties think of us as rational, the odds are significantly enhanced that they will also respond to us in a rational fashion. We can only present a common and rational 'front' if we have thought about the roles & responsibilities within our negotiation team. Allocate the focus in the team between those that will manage the Relationship aspects, and those that will manage or be involved in the Task related activities.
Negotiation skills training teaches us to create an agenda that addresses the interests of all potential participants. A successful way to simplify complex business negotiations is to add structure. We need to focus on the process elements to ensure that we make progress at every level of the negotiation. You will discover that complexity can be managed with the use of an appropriate supporting structure.
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