Collaborative Negotiation: Setting the Pace
People often have a narrow view when negotiating important contracts. It isn't uncommon for people to only keep their own goals in mind, harboring an air of competition. This competitive tendency to dominate can often lead to hostility and hinder cooperative negotiations.
Collaborative approaches to negotiations recognize the other participant's desire to generate profit and encourage cooperation between parties. It's also known as principled, interest-based, or constructive negotiation. The approach considers the relationship to be a crucial element, prioritizing a fair and equitable agreement. In layman's terms, collaborative negotiation is a win-win situation for all.
The Advantages of the Collaborative Approach
Collaborative negotiations involve both parties taking a problem-solving approach. They put aside self-interest and work collectively to achieve something better than they could alone. Rather than viewing the counterpart as pure competition and nothing else, people who adopt a cooperative approach view others as opportunities for mutual growth. There are many advantages of the collaborative approach to negotiations.
The collaborative approach effectively looks to find a solution that benefits both parties. It can generate profit and benefits for everyone by sharing resources and working together. It ultimately contributes to longstanding partnerships and a widened professional network.
A Bigger Pie
In the study of negotiations, the pie represents the fixed value that is to be divided. Collaborative negotiations focus on creating value as opposed to merely claiming value. This increases the size of the proverbial pie, benefiting both parties.
Some of the most influential creations in human history were built on cooperative partnerships. Forming collaborative and productive relationships provides increased numbers of opportunities. Having a strong professional network can also protect against damage and loss, especially when liability is shared.
How to Encourage Cooperation
The first important thing to understand is that regardless of your own approach, your counterparty might have a different view entirely. If you seek to increase collaboration, you'll need to focus your efforts on understanding their view and steering it on a collaborative course.
Nobody likes it when others speak over them and simply tout their own ideas. People can easily detect when someone isn't interested in what they think. Make sure to really listen to what they're saying and see if you can incorporate their needs into a cooperative plan.
Show Willingness to Compromise
Compromise is a fundamental necessity when it comes to working alongside others. Show them that you're willing to sacrifice to make the relationship work and accommodate their needs. They'll appreciate this and will hopefully respond with reciprocity.
Suggest Collaborative Ideas
Simply saying that you'd like to collaborate with them isn't really giving them anything solid to go on. Generate actual ideas that demonstrate how you can both benefit from working alongside each other. You might want to prepare some ideas beforehand.
Presentation is Everything
Good presentation is important when presenting a contract proposal. You'll want to pay attention to detail when preparing it. Don't overlook small details such as formatting, font, and file type. It’s useful to convert a PDF to Word to have both file types available upon request.
Paving a Collaborative Future
Improving your negotiation skills and maintaining a focus on cooperation may prove to be highly beneficial over the long run. Keep these simple keys in mind when preparing for your next meeting.
If you're interested in topics like this, join your local chamber of commerce to engage in more business discussions.
This Hot Deal is promoted by Waterville Area Chamber of Commerce .