“To enhance your bargaining power in a negotiation, you must know your power source.” -Greg Williams, The Master Negotiator & Body Language Expert (Click to Tweet)
“Bargaining Power Dynamics – Beware
How To Triumph In Negotiations”
People don’t realize they’re always negotiating.
Bargaining power in negotiations can be elusive. In part, that is due to the shifting dynamics that occur. There are also the ever-changing perspectives that negotiators have per their interests versus their position.
So, with fluctuating dynamics altering a negotiator’s viewpoint throughout a negotiation, how might you enhance your efforts to increase your bargaining power? The answer to that question may not be that elusive.
Once you begin using the following negotiation techniques, you will increase your bargaining power. And your negotiation dynamics will allow you to triumph in more of the negotiation sessions in which you find yourself.
Negotiation Dynamics – Mission
Most negotiators never consider citing the mission of the negotiation. They begin discussions with an end goal in mind, but they overlook the value of having their counterpart’s buy-in before the engagement. That can prove to be costly in getting to the endpoint. And that does not consider the bumps along that path that may derail the negotiation.
To enhance your bargaining power, control the negotiation dynamics by stating its mission and getting your opposition’s agreement. Use words that paint pictures of how the parties involved will work towards their goals. And communicate those goals in a manner that eliminates ambiguity.
To enrich the process, tie your opponent’s mission to your best offers. That will ensure that he stays connected to your vision. In turn, your proposals will become the source of motivation that drives his actions. It will also give him the impression of moving towards the mission to cross the finish line.
Negotiation Dynamics – Interest Versus Position
In every negotiation, one must consider their interests and that of their counterpart. And, it would help if you made the same assessment about the position both of you adopted. Doing so will uncover how the dynamics of the negotiation may shift during your interactions. And that will influence the bargaining power that either of you will have at specific points throughout the talks.
To highlight the point of interest versus position in negotiations, two negotiators may have the same need but for different reasons. So, if you identified the reasoning behind their position, you would reveal their interest. Addressing that is what will allow you to alter the power dynamics of the negotiation.
As you can see, by uncovering the interest of individuals, you reach the core of a problem that may plague a negotiation’s progress. Thus, to enhance your bargaining power in a negotiation, understand the interest of those with whom you are negotiating.
Negotiation Dynamics – Style Of Negotiations
Before entering a negotiation, consider the negotiation style that will drive your interactions. Making that assessment will lend insight into the bargaining power you will have in the negotiation and the dynamics that will occur.
One style of negotiating is distributive, and another is integrative. The distributive form of negotiations is more of a win-lose approach. It tends to be more competitive, with negotiators using harsher tactics to reach their goals.
The integrative method of negotiating tends to be more win-win, with negotiators being more amenable to addressing one another needs. And, therein lies how the negotiation dynamics become impacted just by the style of negotiations negotiators use.
Negotiation Dynamics – Tactics
There are a few ways to alter someone’s perspective of value, wants, and needs. In some situations, you can provoke a negotiator to adopt a better position by your word choices. You may also encourage someone’s actions by the visual effects in the environment. For example:
The $100 Cookies
A homeowner was negotiating for the installation of an alarm system with a representative from the company. She did so while the scent of baking cookies wafted in the air.
They were about a hundred dollars from the point of settlement, and neither of them was willing to concede. Sensing an impasse, the homeowner asked the rep if he had eaten lunch before arriving at her home. He said no. Then she asked what they might do to overcome the impasse. The representative said he was not sure what he could do; the situation had his hands tied.
With that, the homeowner excused herself and retrieved the cookies. She sat them just outside the reach of the representative. After observing his widening eyes and him almost drooling over them, she modestly stated, come on, let us close this deal. Take a hundred dollars off the installation, and I will give you a cookie.
They both laughed. Silence pursued. And then, the representative gave her the discount. In turn, she gave him a cookie. And then said, “what the heck, you have been nice, please, take the whole batch.” She gave him the batch of cookies for future goodwill. She knew you’re always negotiating. And she planned to remind him of her gesture in their future interactions.
The point is, do not discount the power of using the right words and images at the appropriate time. That will help you maintain your bargaining power throughout the negotiation.
To triumph and increase your bargaining power, you must increase your power dynamics in a negotiation. And the way to do that is by implementing the suggestions outlined. Once you do, your negotiation efforts will bear more significant outcomes that create more substantial opportunities. And everything will be right with the world.
Remember, you’re always negotiating!
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