Break It Up
When one side takes an all-or-nothing approach, negotiations can break down. Bypass that by breaking contracts into smaller pieces. Seek agreement on each article, and before you know it, you’ll have a complete understanding.
This step-by-step approach results in more durable deals since parties reached consensus on every little detail.
Find the Silver Lining
Negotiations are about more than dollars and cents. They’re also about relationships. When your counterpart is right about something, let them know. This establishes a friendly, collaborative tone that should lead to progress and a resolution that suits both sides.
If negotiations are spread over multiple meetings, try closing each on a positive note.
In Closing
Whether you run a small local company or a large multinational corporation, your ability to negotiate contracts is often the difference between the success and failure of your organization. By following the tips outlined in this article, you can maximize your chances of success during your next negotiation.