Get what you want.Help everyone win.Navigate to victory.
Opening My intention is to present you with: A framework for effective negotiation A way to integrate your experience within it A way to generate tools to drive your success in the future.
Our 3 classes together Class 1: Anatomy of Negotiation BATNAs, anchors and reservation price The negotiation Process Class 2: Interest-based negotiation Negotiating in the workplace How to overcome negotiating “walls” Class 3: Debrief, review, reflect, and workshop!
Objectives Learn the basic anatomy of any negotiation. PICO (People, Interests, Criteria and Options) Understand what a BATNA is. Best alternative to a negotiated agreement. Understand what an anchor point and reservation price is. Boundaries of any negotiation.
What’s in this for me? Clarify the elements and process You probably already do these things. Negotiating is a mental muscle. Spot elements sooner She who defines, wins. Assist on contract negotiation Jobs, home, auto or other major decisions or purchases. Negotiating conflict in your personal life Put the oxygen mask on yourself first.
Anatomy of a Negotiation Separate people P eople from problems. Identify issues at I nterests stake, including emotions. C riteria Decisions should be based on objective Options standards. Generate possibilities before deciding what to do.
Criteria, in more detail Objective criteria include: Fair market value Customs Expert opinions Laws Previous valuation Anchor Point Reservation Price Value attached by one Maximum amount making the offer other party can A beginning point spend, accept, etc. “Floor” Outer limit available “Ceiling”
Options, in more detail Best Alternative to a Negotiated Agreement “Walk away” or Contingency plan List alternative ideas to negotiation Translate ideas into practical alternatives Select the best option(s). Don’t forget the opportunity cost of agreeing to a negotiation. The better your BATNA, the stronger your position.
The Negotiation Process Analysis and Research Planning Decision Discussion
Scenario #1- eat in or go out? Tanya wants to make Mykle wants to go to a dinner at home. restaurant. How could they negotiate an agreement?
Scenario #2 – Velvet Elvis You make an amazing find at the local flea market. The vendor wants $45 for it. It’s a one-of-a-kind. You have $25 in cash in your pocket. You really want this painting. How could you negotiate an agreement?
Skill Check Can we diagram a negotiation? Can we spot and generate BATNAs? Can we spot and generate anchor points and reservation prices? Do we know what the negotiation process is?
What we learned today We learned in Negotiation 101: When to hold ‘em When to fold ‘em When to walk away When to run Anatomy of Negotiation BATNA Anchor points and reservation prices
Closing and Homework Looking forward to working together again next week! TUESDAY, JULY 3rd! (not Wednesday!) Tanya will email pairs with the homework assignment and worksheets. Practice with low risk situations in your life right now!We are limited only by our imagination!