Negotiating is something that everyone does. Whether it’s with our parents, with our kids, with our friends, with our co-workers, theirs is always room for negotiation in some form or another. There are a number of ways to evaluate information as you’re going into and during a negotiation so that a smoother, more honest interaction will take place. Some of these tactics include:
Establish Trust – Convince the other party that you are entering the negotiation with good intentions and would like to seek a win/win condition where everyone benefits.
Ask Direct Questions – People, in general, do not like to lie, but they find it easier to withhold the truth. By asking direct questions, people are more likely to be upfront with the answer.
Listen carefully – Since it is easier to withhold information than to make something up, it’s important to understand what’s being said or not said. If something doesn’t make sense or hasn’t been stated, ask a direct question!
Keep records – People have forgetful memories, make notes of what people say so that they can’t claim they never said it. Putting things in writing also allows for better trust between parties.
Negotiation practices are important because our reputation dictates how future parties approach the negotiation table. Hoch and Kunreuther mention how Donald Trump has a very hard-liner negotiator tactic. (Hoch & Kunreuther, 2005) Parties are able to take this reputation and prepare for it, which probably end up taking advantage of Donald Trump more than he would like.
While I was deployed I had the opportunity to go off base and check out some of the local markets. One of the things that I really enjoyed doing was negotiating for fake watches. One such vendor mentioned how all the watches he sold were top-quality and fully functional. I had faith in the vendor that he was telling the truth, but unfortunately a day after I bought the watch it stopped working. Some could argue that I had an addiction with buying watches, so when I went off base again, I made sure to never visit the same vendor. Whilst he managed to get a short-term gain by selling me bad watch, he did lose on repeat business. Other vendors where I had better luck at with quality watches, I repeatedly went to.
References
Hoch, S. J., & Kunreuther, H. C. (2005). Wharton on making decisions. Hoboken, NJ: John Wiley & Sons Inc.
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