Elucidate on the steps that can be employed to structure a negotiation so as to achieve a winning solution for both parties.
What will be an ideal response?
The four steps to structure a negotiation to achieve a winning solution for both parties are: prepare, position, propose, and pounce.
Prepare what is needed to achieve, what one is ready to give up, and what it takes to close rapidly once agreement is reached. Learn as much as one can about the other side, its track record, current situation, and possible needs.
Position by putting one's best foot forward, show confidence in one's self, firm, and prospects. One shouldn't lie or mislead, but also not apologize. Talks should be about where one could see his or her business in a couple of months or years.
Propose solutions that provide value and balance for both the parties. This is often the hardest part of the negotiating process, but it is also the aspect which has received the most attention.
Pounce when agreement on any part of the negotiation appears at hand; moving to close the deal on that issue. When one has an agreement, even on small issues, one should pounce on it as a positive outcome, an indicator of future deals to be made. Then getting the deal down in writing and when stalled, asking the other party how to move forward.
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