Improve your bargaining outcomes with our comprehensive 'Negotiation Strategy Template', specially designed to guide you through a well-planned negotiation process.
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Identify the negotiation objectives
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Research and gather information about the other party
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Analyze the collected data
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Establish the best alternative to a negotiated agreement (BATNA)
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Decide on the negotiation approach and tactics to be used
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Approval: Negotiation approach
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Prepare negotiation arguments
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Plan responses to possible counter-arguments
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Define levels of concession
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Set clear deadlines for the negotiation process
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Build negotiation team
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Train negotiation team on planned strategy
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Approval: Training Evaluation
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Review negotiation ethics
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Schedule negotiation meeting
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Prepare all necessary documents
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Set agenda for the negotiation meeting
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Conduct pre-negotiation meeting with team
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Approval: Pre-Negotiation Meeting
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Communicate negotiation strategy to team
Identify the negotiation objectives
Clearly define the goals and objectives of the negotiation process. What are you trying to achieve? What outcomes are you looking for? How will these objectives impact the overall negotiation strategy?
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Research and gather information about the other party
Collect information about the other party involved in the negotiation. Who are they? What are their interests, needs, and priorities? What is their negotiating style? Understanding the other party will help inform your negotiation strategy.
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Collaborative
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Competitive
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Compromising
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Avoiding
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Accommodating
Analyze the collected data
Analyze the data and information gathered about the other party. Look for patterns, trends, and insights that may influence the negotiation strategy. Identify strengths and weaknesses, as well as potential areas of common ground.
Establish the best alternative to a negotiated agreement (BATNA)
Identify the best alternative option if a negotiated agreement cannot be reached. What is the alternative course of action? How does it compare to the desired outcomes? Understanding the BATNA will help determine the negotiation strategy.
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Decide on the negotiation approach and tactics to be used
Determine the approach and tactics to be used during the negotiation process. How will you interact with the other party? What strategies will you employ to achieve your objectives? How will you handle potential challenges?
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Active listening
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Building rapport
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Leveraging power dynamics
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Creating win-win solutions
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Using objective criteria
Approval: Negotiation approach
Will be submitted for approval:
Decide on the negotiation approach and tactics to be used
Will be submitted
Prepare negotiation arguments
Develop arguments and talking points to support your negotiation position. What evidence, reasons, and examples can you provide to justify your interests? How will you present your arguments persuasively?
Plan responses to possible counter-arguments
Anticipate possible counter-arguments from the other party and prepare responses. How might they challenge your position? What alternative perspectives might they present? How will you address and refute these counter-arguments?
Define levels of concession
Determine the levels of concession you are willing to make during the negotiation process. What is your threshold for compromise? What concessions are non-negotiable? How flexible are you willing to be?
Set clear deadlines for the negotiation process
Establish specific dates and times for various stages of the negotiation process. When will initial offers be made? When is the final deadline for reaching an agreement? Setting clear deadlines helps keep the negotiation on track.
Build negotiation team
Assemble a team of individuals to support the negotiation process. Who will be involved in the negotiation? What are their roles and responsibilities? How will the team work together?
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Lead negotiator
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Researcher
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Legal advisor
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Communications liaison
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Support staff
Train negotiation team on planned strategy
Provide training and guidance to the negotiation team regarding the planned strategy. What knowledge and skills do team members need to effectively execute the strategy? How will you ensure consistent understanding and application of the strategy?
Approval: Training Evaluation
Will be submitted for approval:
Train negotiation team on planned strategy
Will be submitted
Review negotiation ethics
Discuss and review ethical considerations related to the negotiation process. What ethical principles should guide the negotiation? How will you ensure fair and ethical treatment of all parties involved?
Schedule negotiation meeting
Plan and schedule a meeting for the negotiation process. When and where will the meeting take place? Who needs to be present? What are the objectives and agenda for the meeting?
Prepare all necessary documents
Gather and prepare all necessary documents for the negotiation process. What documents are required? Are there any legal or regulatory requirements? How will you ensure all relevant documents are available?
Set agenda for the negotiation meeting
Create a detailed agenda for the negotiation meeting. What topics and issues will be discussed? In what order? How much time will be allocated to each item? A clear agenda helps keep the meeting focused and productive.
Conduct pre-negotiation meeting with team
Hold a pre-negotiation meeting with the team to review the strategy, agenda, and roles. What are the key points to discuss? How will you ensure team members are prepared and aligned? What actions need to be taken before the negotiation meeting?
Approval: Pre-Negotiation Meeting
Will be submitted for approval:
Conduct pre-negotiation meeting with team
Will be submitted
Communicate negotiation strategy to team
Share the negotiation strategy with the team members. How will you communicate the strategy? What information and guidance will be provided? How will you address any questions or concerns?
