LECTU

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LIKE IT OR NOT, YOU ARE A NEGOTIATOR

PreparationPositioning

Patience &Practice

PREPARATION

• Have a position before you enter the room.

• Know what you want, and more importantly, what you need.

• Understand what kind of leverage you have.

POSITIONING

• Make sure your position is realistic.

• Compromises should be around shared interests.

• Always keep the big picture in mind.

PATIENCE• Don’t agree to a deal until your

team agrees.• Don’t rush to agree with a client

need. • Keep your dialogue humane,

respectful, and honest. • Be prepared to leave the table

at any point!

PRACTICEYou cannot practice too much

But practice all the steps:Preparation,

Positioning, Patience.

COMMON PITFALLS1. Poor planning.

2. Thinking the pie is fixed.

3. Not paying attention to your opposition.

4. Paying too much attention to anchors.

5. Caving in too quickly.

STANFORD GRADUATE SCHOOL OF BUSINESS