How Mutual Understanding is Key to Any Negotiation

When you sit down to hash out a business deal, you go in knowing what you want, but do you know where your partners are coming from and what result they’re aiming for?

 

In his recent article for Inc, talent and media attorney and BigSpeak EVP Ken Sterling shares his insights into how building a personal understanding of the party on the other side of the table leads to better outcomes for all. A veteran deal-maker with hundreds of negotiations big and small under his belt, experience has shown him that trust and understanding provide solid foundations in deal making, and lead to mutually positive results that leave all parties happy.

 

He recommends using three methods to better see where other parties are coming from:

  1. Listen to what the other party says, and exactly how they say it. This can also mean what people are not saying, such as using cues in tone and body language, to unearth below the surface doubts and pain points.
  2. Create a sense of community and allyship with business partners. Keeping things business and boardroom only can cause potential partners to feel they are being taken advantage of or seen as an opportunity only, not an equal partner in an important negotiation.
  3. Offer respect to all potential parties, even bad actors. White this may entail a little extra work on your part, taking the high ground in a business deal makes others more likely to view you as someone with integrity and someone they wish to build a genuine partnership with.