My Five Golden Rules of Negotiation - Part 1 • Expert Negotiator (2024)

FAQs

What are the five 5 rules of negotiation? ›

In fact, there are five different negotiation styles: competing, collaborating, compromising, avoiding and accommodating. We've written about them before but thought it would be useful to revisit them here in a more “at-a-glance” format for those who may want to learn more about how they approach negotiations!

The negotiation process consists of five steps, each of which must consider elements of negotiation such as communication, party relationships, alternatives or options, legitimacy of the conflict, the interests of each party, and the commitment of each party to resolving the conflict.

These golden rules: Never Sell; Build Trust; Come from a Position of Strength; and Know When to Walk Away should allow you as a seller to avoid negotiating as much as possible and win.

Cross-Cultural Business Negotiations identifies the four Cs of negotiation: common interest, conflicting interest, compromise, and criteria. These are common to all business deals regardless of cultural nuances.

A best alternative to a negotiated agreement (BATNA) is a course of action that a party engaged in negotiations has determined should be taken if talks fail and no agreement can be reached.

During tumultuous times, it's more crucial than ever that the negotiation process fosters strong supplier relationships based on trust.

The three most basic rules for negotiations are: 1) Prepare, 2) Listen 3) Be Present. This sounds obvious, but how often do we not follow those three basic rules?

The 5+2 format, also known as the 5+2 talks, the 5+2 negotiations and the 5+2 process, is a diplomatic negotiation platform aimed at finding a solution to the Transnistria conflict between Moldova and the unrecognized state of Transnistria.

What is the five step sequence most negotiations follow? ›

What is the five step sequence most negotiations follow? Preparation, rapport-building, information-trading, deal-making and closing. Don't know? In any negotiation it is important to know who the decision-makers are on the other side of the bargaining table.

The Quivering Pen:

The quivering pen is more or less the same as the nibble, but the difference is that the quivering will be done before you shake hands on the deal, or before the deal is signed rather than after. This technique is a little bit dodgy (geslepen) but not dishonest.

Rule 1 – Don't (unless you need to)

Conflict - if there is no conflict don't negotiate. If you're a salesman sell high. If you're a buyer then buy on price. If you do not need an ongoing relationship with the other party then buy hard or sell hard.

Most people know intuitively that if they are to be convincing, they need to be confident, and if they are to be confident, they need to be comfortable (comfortable, confident, and convincing are what I term the three C's of negotiation).