Whether you are participating in a business transaction or dispute resolution. If you plan on having a continued relationship with the person on the other side, it is imperative that you understand the principles of negotiation. I deal with small business owners looking to grow their business, or needing to resolve an issue with a current or former customer. I also work with husbands and wives interested in resolving family disputes through mediation. A common thread runs through these situations when the parties intend to have ongoing relationships after the negotiation is completed. Sometimes an ongoing relationship is not desired, but the situation requires long-term contact and communication.
This common thread is avoiding greed. In a situation where a small business owner wishes to grow his business by connecting with potential new clients, earning their trust, and gaining their business. It is essential to not come off as greedy, or in it only for your own benefit. Appreciation for their business, and an understanding that the relationship is mutual and not one sided helps to build loyalty and create a long-term relationship. The same goes for business and family disputes. If a dispute arises and you look to negotiate with the other party to resolve the issue, the other party must be able to see a benefit to working with you. There must be a reason why the solution you desire appeals to them or else negotiation efforts will break down. No one wants to feel taken advantage of, or duped into a solution they will not be happy with.
Check out Chris Myers’ article titled, 3 Overlooked Negotiation Skills Entrepreneurs Need To Master, published on Forbes.com, March 27, 2017. He has a great story of how he learned negotiation skills while becoming an entrepreneur.