Research and Planning

Essential Negotiation Skills

The foundation of effective preparation is solid research and smart planning. Here’s how to approach it:

1. Know Your Objectives

Start by defining what you want from the negotiation.

Ideal Outcome: The best-case scenario.
Acceptable Outcome: What you’re willing to settle for.
Walk-Away Point: The minimum terms you’re prepared to accept. Anything less = no deal.

If you don’t know where you’re going, you’ll settle for anything.

2. Identify Your BATNA

Your Best Alternative to a Negotiated Agreement is your backup plan.

What will you do if this negotiation fails?
How strong is your alternative compared to the deal on the table?

A strong BATNA:

Increases your bargaining power.
Gives you confidence to say “no” to bad deals.
Helps you avoid desperation.

Never enter a negotiation without knowing your BATNA.

3. Understand the Other Party

Research the other person or organization as thoroughly as possible:

What are their likely goals and constraints?
What is their BATNA?
What pressures are they facing (deadlines, competitors, internal politics)?
What do they value most — money, time, relationships, reputation?

Sources of insight:

Public records, social media, company websites
Industry trends or market conditions
Personal or professional networks

Good negotiators don’t just know their side — they prepare both sides.

4. List Your Priorities and Trade-Offs

Not all issues carry the same weight. Before the negotiation:

List what matters most to you (e.g., price, delivery time, payment terms).
Identify areas where you can be flexible.
Consider where you might trade low-priority items for things you value more.

Focus your energy on high-value items and prepare alternatives for the rest.

5. Prepare Your Strategy

Think ahead about your negotiation tactics and communication style:

Will you open first? If so, what’s your anchor?
How will you respond to pushback?
What language or tone will you use?
How will you build rapport and manage conflict?

Also, prepare your evidence: Data, examples, or benchmarks to support your proposals.

Go into the conversation with a script — but stay flexible to improvise as needed.

6. Plan the Logistics

Finally, don’t overlook practical details:

When and where will the negotiation take place?
Who needs to be involved?
Will it be in person, over the phone, or virtual?
How long might it take?

Small things like timing, environment, and setting can subtly influence outcomes.

Conclusion: Prepare to Win

Negotiation is not a battle of dominance — it’s a game of readiness. The better prepared you are, the less reliant you are on luck or charm. You’ll be able to think strategically, stay composed, and pursue outcomes that truly work for you.