Preparation is nine tenths of the law

Despite the numerous negotiating courses, books and websites available, in my long experience of negotiating and training, there is one thing that consistently puts one party ahead of another in any negotiation—preparation.

Muhammed Ali knew the importance of being prepared when he said, ‘the fight is won or lost, long before I dance under those lights.’ And this is good advice for negotiations; any preparation is better than none, therefore, even if I only have five minutes before a negotiation, I find the time to consider the following points and jot them down before I begin.

1) What do I have to have when I finish this discussion that I do not have now? What is it that I really need here? What can I not lose?

2) What would I like to get out of this discussion? What would make me jump for joy, a stretch target?

3) What is the least I can live with from this negotiation? What is my bottom line after which I might as well walk away?

Working this out might only take a few minutes, but it is effective in focusing anyone—regardless of their level of experience—upon the task in hand. It is the one thing that every top negotiator does without exception, and the one thing that every terrible negotiator skips.

An art and a science

So, now you have a clear idea of what  you want and need, the next step is to make some assumptions concerning the other party and their objectives. This can take some investigating, but if possible, and especially in an important negotiation, you should try and ascertain the above points for the other side.  

Obviously, they might not be willing to tell you, but surprisingly often they will and it is always worth asking. If not, some digging and detective work, such as looking at recent industry developments, company activity and the personalities involved, will help you build a picture which will ensure your ‘guesses’ are informed ones. Then it is a matter of testing those assumptions in your discussions.  

Even with no time to gather information, it is still worth, ‘walking a mile in their shoes’ as it were, and just for a few minutes putting yourself in the other party’s position. Ask yourself, what would I see if I was them? What would I want? What would I try to avoid? Remember, you cannot change someone’s mind unless you have an idea of what is in it, so make this step part of your routine preparation.

There is an art and a science to negotiating; both head and heart are needed to do it well. If nothing else, preparing methodically is key because it gives focus and clarification in an important and pressured discussion. Forcing yourself to consider the other party’s position and objectives gives insight into their goals and perspective, which often makes for an easier and more profitable discussion.

Entering a negotiation without even a small amount of preparation is like stepping into the ring without training for the fight. You might get lucky but better not to take the chance, especially when the stakes are high and the deal is important. So, before you “dance under the lights” at least think about what you are fighting for and against whom, because the ‘fight’ really is won or lost in the preparation, often long before the actual negotiating really begins.

Jenny Radcliffe is the founder of Negotiation Intelligence which offers training in body language and other negotiation techniques.