Negotiation Savvy: Using Precedents for Powerful Results
Negotiation isn’t starting from scratch. Past agreements, or precedents, can be powerful tools. Here’s how to leverage them strategically.
Strength in Past Agreements:
- Benchmarks & Expectations: Precedents set baselines for terms, pricing, and other key aspects. They help both sides understand what’s considered standard.
- Establishing Standards: Use past agreements to establish norms for deliverables, timelines, and other negotiation points.
Analyzing for Insight:
- Review Past Deals: Unearth patterns and successful terms in previous negotiations. Understand the reasoning behind past decisions.
- Strategic Insights: This knowledge helps you craft a stronger negotiation strategy for the present situation.
Adapting for Today:
- Context is Key: Precedents are valuable, but adapt them to your current situation. Market conditions and specific needs may differ.
- Balancing Continuity & Change: Respect established norms while acknowledging new needs. Pricing from a past deal might need adjustment for current market trends.
Negotiating with Precedents:
- Present with Context: Showcase adapted precedents that consider both the current situation and past agreements.
- Justification & Openness: Use precedents to justify your positions, but be open to discussing necessary deviations due to changing circumstances.
By using precedents strategically, you can build a stronger foundation for your negotiation strategy and achieve better outcomes. Remember, successful negotiation is about building on the past while adapting to the present.
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