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Become acquainted with the other party. The personal chemistry has to work in order to receive a successful result. Define the interpersonal dynamic. Summarize the background. Prepare an agenda. Lay the groundwork for bargaining.
Don't be afraid to ask for what you want. Shut up and listen. Do your homework. Always be willing to walk away. Don't be in a hurry. Aim high and expect the best outcome. Focus on the other side's pressure, not yours.
Negotiate the process. Set benchmarks and deadlines. Try a shut-down move. Take a break. Bring in a trusted third party. Change the line-up. Set up a contingent contract.
Remember, price is not everything. Have a walk-away number. Make strategic concessions. Know whom you're negotiating with. Do the homework. Consider making the first offer. Realize it's OK to walk away.
The negotiation phases differ in three main stages: preparation, development and closure.
Negotiation consists of five phases that include investigation, determining your PATNA, presentation, bargaining, and closure. Different negotiation strategies include the distributive approach (fixed-pie approach) and the integrative approach (expanding-the-pie approach).
The first, and often the most important step toward successful negotiation is planning and preparation. According to Thompson (2009), about 80% of negotiators' efforts should go toward the preparation stage. However, planning and preparation go beyond what negotiators should do before negotiation.
Introduce yourself and articulate the agenda. Propose - make your first offer. Check your understanding of the other party´s proposal. Remember your objectives. Discuss concepts and ideas. Consider appropriate compromises, then make and seek concessions.
Sometimes the initial offer will come in an email. Regardless of how they deliver the initial offer, you should answer something like this: Thank you so much for the offer. I would like to take a day or two to think it over before I respond.
DO familiarize yourself with industry salary trends. DON'T fail to build your case. DON'T stretch the truth. DO factor in non-salary benefits. DON'T wing it. DO know when to wrap it up. DON'T forget to get everything in writing. DON'T make it only about you.
She said even if you plan to take some time with your decision, you should always acknowledge the job offer promptly. “A general rule of thumb is that you can take two to three days for your final response,” she said.
TAKE YOUR TIME TO CONSIDER THE OFFER. DO YOUR RESEARCH. CONSIDER ACCEPTABLE NON-SALARY ITEMS. FOCUS ON YOUR VALUE. SUGGEST A FIGURE SLIGHTLY HIGHER SALARY THAN YOU'D ACCEPT. TALK ABOUT THE ACCEPTABLE AND NON-ACCEPTABLE PARTS OF THE JOB OFFER. DON'T FORGET TO SHOW ENTHUSIASM. DON'T USE DEMANDING OR CONFRONTATIONAL LANGUAGE.
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