For most individuals, the considered coming into a tense negotiation is sufficient to create panic. Fortunately, there are some simple guidelines anybody can profit from.
Victoria Husted Medvec, professor at Northwestern’s Kellogg College of Administration and CEO of negotiation agency Medvec & Associates, spoke reverse Pattie Sellers, a cofounder of the Most Highly effective Ladies franchise, at Fortune’s Most Highly effective Ladies Summit in California this week concerning the largest mistake individuals are likely to make whereas negotiating—and the best way to keep away from it.
The most effective ability of one of the best negotiator, Medvec went on, is their skill to scale back the selfish bias. The largest misstep, she mentioned, is a negotiator’s tendency to give attention to his or herself slightly than the wants of the opposite facet.
“It results in great issues,” Medvec mentioned. “When I’ve this give attention to myself, not the opposite facet, I don’t put the suitable points on the desk, as a result of I don’t take into consideration addressing their wants. I don’t take into consideration differentiating myself to handle their wants. I don’t set bold targets as a result of I’m fascinated with what I must have, not ‘what’s the weak spot of their alternate options?’”
When a negotiator isn’t contemplating the wants of the opposite facet at first, they’re failing to create story, Medvec mentioned. “Once I don’t take into consideration [the other side], I don’t take into consideration the truth that if I give them choices, they’ll really feel like they’re in management. I don’t use the suitable technique if I’m targeted on myself.”
If there’s one bottom-line takeaway, she advised the viewers, “one factor that may completely assist to scale back worry is to scale back your selfish bias: Concentrate on them, not your self, and you’ll all the time excel in negotiation.”
Kill them with choices
In any negotiation, Medvec mentioned, it’s key to go in with (at the very least) three choices on the desk.
These distinct choices every provide comparable worth to the particular person you’re negotiating with. “And so they’re three choices that you just’re comparatively detached between, however that the opposite facet won’t be [indifferent], as a result of it addresses their wants, their challenges, their short-term and long-term talents,” Medvec defined.
This array of choices is essential to success as a result of it makes the opposite facet suppose you’re “versatile and cooperative,” she mentioned. “It’s going to make them really feel higher. They’re going to be glad. They’re going to love you.”
The technique is known as A number of Equal Simultaneous Affords, or MESO negotiation. The concept is creating sufficient optionality that either side of the desk can get quantity of what they need within the deal—and in addition admire the flexibleness of the particular person making the provide, resulting in a decrease probability of dragged-out selections or hasty ultimatums.
