The goal of negotiation

This is quite surprising but quite Often people enter a negotiation without a clear
understanding of what they wish to achieve out of the same. What’s the end goal of a
negotiation? They don’t know what to achieve and it becomes quite frustrating &
confusing for both the parties since they don’t know which direction to go, or what
strategy to adopt.
And so It’s very important that you should be very clear & precise about the direction that
you’re going towards and the plan & strategy that you are gonna follow to accomplish
the desired outcome out of any negotiation.
You can always follow SMART Goals.
S – Specific
M – Measurable
A – Attainable
R – Relevant
T – Time-Bound

Let’s say you have a Goal to negotiate with a tech company for software acquisition.
Let’s say they are asking $500k for the technology. Now here It’s important that you don’t
create vague goals, like acquiring the product at half the asking price. You could follow
SMART. Keeping a Specific Number like let’s say $450k Dollars is your Specific target
price. It is Measurable since we are dealing with numbers. $100k is not achievable and
could be a vague goal & so it should be something that is attainable I.e $450k. It should
be relevant & should have time-bound. By Defining a goal of negotiation You can make better negotiations on Businees level. Even a good sales coaching training will also train you to make a better negotiations  In sales.

Leave a Comment