Negotiators (Mediators) who strike the worst deals are those who lack patience. Not only do they demonstrate weakness by their anxiety to wrap the process up, but they actually end up making concessions just to get negotiations concluded. They are weak negotiators and others see this. Good negotiators become even more demanding as the negotiation progresses.
KNOW YOUR OPENING OFFER
Your single most important tactical move in any negotiation is your opening offer or position and it must be justifiable/rational. Your opening offer has a direct and immediate impact on how (or if) the negotiation will proceed. At the offset you must determine the other side's perception of value from their opening offer. You want the opposing side to make their offer first; this requires patience. Your opening offer should engage the other side in the negotiation process
KNOW OUR STATUS
What is your status in relation to the other side? What is your status on the various issues? What is your status on dollar value acceptance? You must know when to end the negotiations. Do not let the negotiation redunce to an unhealthy environment.
"Lower Shields and Put Swors On The Table"
It is far easier to obtain concessionsfrom a negotiator and/or a participant in the negotiation if the relationship is not adversarial with the other side. Start with casual conversation before launching into negotiations. Try to stress your shared interest. Regularly review issues on which your both agree.
In effective negotiations the first 50 percent of the time should be spent asking questions and gathering information. Offer no positions until you have gathered and digested the necessary information, such aspositions, needs, perceptions and motivations from your opponent(s). Never ask a closed ended question if you can help it. Have a side meeting to discuss and ponder the information received prior to using it.
LIMIT YOUR AUTHORITY
The most common misconception about negotiating is that having authority to close a deal gives us power at the negotiation table. Exactly the opposite is the case. The least powerful person at the table has the most power (persuasion) since they cannot be pinned down. Always seek to find out the authority of the person you are negotiating with. Always speak to the least authoritative person.
NEVER REWARD INTIMIDATION TACTICS
"When engaging in combat with an ememy never try to defeat ineffective conduct. Only try to defeat effective conduct" by Thomas Cleary. DO NOT RETURN INTIMIDATION!
KNOW YOUR BOTTOM LINE
The most powerful information that you can have about your own negotiating position is your bottom line. Negotiators who know their bottom line know when to deadlock the negotiation and when not to deadlock.
FLOAT TRIAL BALOONS
Trial Baloons are essential what-if scenarios. The more possibly acceptable scenarios you can place on the table, the more engaged the other side will be and the greater the chances for success. Don't just float one, float several the are acceptable to you. Try to present them in a positive way. Be sure the other side knows that these are what-ifs.
THE NIBBLE (Bate is in His Mouth)
Time to attempt to close. You have done your selling, NOW CLOSE THE DEAL. Ask: What do I need to make the deal? What do I need to make it work better? Be careful not to give up important elements.