During a negotiation, there will be times when you will be required to compromise.
The way you compromise signals the importance of some terms of the negotiation versus others.
How then should you compromise in a negotiation and what strategies should you employ?
The following are seven ideas to contemplate in your negotiations:
1. Most negotiators say that you should never compromise too quickly in a negotiation.
In general, that’s good advice. The way you compromise should be dependent on the situation and on what it is you are negotiating.
If you whimsically cast off an item as not being important, you can concede it haphazardly.
If on the other hand, you wish to convey the importance of an item, hang on to it like life itself.
Be dogmatic about compromising it and exact a high price in return for your acquiescence.
2. Consider using an implied compromise as a stalling tactic. This can give you more time to prepare and/or implement another strategy.
For example, say: “I think I can accommodate you, but I have to get the OK from my boss.”
3. Whenever you compromise, consider getting something as the result of giving something. 4. You can also utilise the compromising process as a decoy. You would employ such a tactic by giving more value to a part of the negotiation than it really possesses.
In doing so, you can divert attention away from an item that has more value for you.
5. By compromising easily, you can give the appearance that you are an easy person to negotiate with, which could cause the other negotiator to drop his guard.
6. Always ask yourself this question: “Is it worth it to negotiate if a loss is eminent?”
If there is a future strategic position that can be gained, consider how you will utilise compromises to attain that position.
After all, a loss can be a win, if you continue with the negotiation. Just be mindful of minimising your loss.
7. By being known for the way you compromise, you create an image of who you are.
When negotiating over a period of time, such an image can be beneficial to you. Sometimes, there will be situations that you know you can’t win, and yet it will be necessary for you to negotiate.
Why should you fight when you know the chances of winning are slim? You should consider doing so to position yourself for future negotiations, or the next phase of the negotiation.
Since compromise occurs in all aspects of life, by knowing how, when and the right environment to compromise, you can enhance your negotiation outcomes. Remember, you are always negotiating.