With this positive framework in mind, to generate better outcomes in your negotiations:
1. Understand the four possible outcomes from each negotiation
Negotiations can only logically result in four possible outcomes:
Lose-Lose - neither party achieves their aims
Win-Lose - one party is happy, the other is not
Win-Win - both parties are happy with the end result
No outcome - no consequences, positive or negative
Do everything you can to create Win-Win outcomes from each and every negotiation you enter into.
2. Learn the relationship between time, information and power
The three critical elements of any negotiation are:
Time - the period in which the negotiation takes place
Information - the more you have, the better
Power - which comes in many different forms
If you analyze and understand the relationship between these elements, you'll achieve better outcomes in your negotiations.
3. Ask questions which succeed in uncovering
The key to creating Win-Win outcomes is to know and understand your counterpart's motivations and intentions. To uncover those, ask good questions and then listen with empathy to the answers they give.
4. Become a skilled listener (to both verbal and nonverbal clues
The best negotiators are always the best listeners. They pick up on the verbal and nonverbal clues their counterparts offer that others simply gloss over. They also look for the meaning behind what's said consistently and thoroughly.
5. Learn how to build trust when negotiating
Unless you can make your counterpart trust you, the negotiation will go nowhere. Win-Win outcomes are only possible if your counterpart knows you will deal with them honestly, with integrity and in a reliable manner.
6. Understand the different styles of negotiation strategy
In addition to having a positive attitude, subject knowledge and an understanding of the negotiation process, accomplished negotiators also have a keen appreciation for the negotiating style and preferences of their counterparts. Generally speaking, there are four distinct negotiating styles:
1. Amiables - who focus on building the relationship
2. Drivers - who are bottom-line results oriented
3. Analyticals - who prefer methodically exploring all options
4. Blends - people who have no clear preferences
7. Prepare well for each negotiation
To achieve spectacular results in negotiating, be prepared to do your homework in advance. The more information you have - even if you don't end up using it all - the more likely it becomes that you'll be able to be successful. The challenge is to avoid trying to cut corners and skimping on your preparation.
Source: The Only Negotiating Guide You'll Ever Need by Peter Stark and Jane Flaherty