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How to negotiate

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  1. Definition of the objectives
  2. Studying the enemy
  3. Adopt a strategy
  4. Predicting the course

We negotiate every day to get the best deal possible and to get better than we would have had without negotiation. The success of negotiation is due mainly to the quality of its preparation. Definition of the objectives: In this step we define clear and realistic objectives, while providing flexibility with a high estimate, an assumption and a low threshold that should not be crossed. Information plays a key role in negotiations. We must know the other party, and the players who will be present at the negotiating table. We should know what their issues, goals and strengths are. In order to do this, we must explore the personality and power of each actor. From these factors, the trader can get an idea of the power relationship between the two parties and determine a range of discussions.

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