How can you ‘create’ power and leverage for yourself in negotiations? Is there a way that you can counter the power held by your counterparts in negotiations? There is a way that you can consistently create power for yourself whilst at the same time countering the power of your counterparts. If you consistently apply this technique, you will be rewarded with a significant improvement in the quality of the deals that you close.Find additional information at highspark negotiation training.Much has been written about the power that can be found in negotiations. Here are some examples of the things that might provide you with some power: – Status & position (you or your position may be held in high regard) – Physical appearance (you may be very big physically or be deemed to be physically attrractive) – Organisational position (your organisation may be considered powerful)
Whilst the aforementioned are examples of some of the things that may confer power on you or your counterpart in negotiations, without a shadow of a doubt, the single most effective way to create power for yourself in negotiation is to create alternatives. You will never have as much power in a negotiation as you will have if you are not restricted to one option only. If you can place yourself in a position where all you have to do is choose between options, then you will always ensure that you have both power and leverage in negotiations.
The funny thing is that whilst we do think of other options when we negotiate we tend to make 2 key mistakes: We think about the alternative options too late in the negotiation process. Typically, we only start think about alternatives when we realise that we are in a deadlock or in a difficult position. The problem with thinking about alternatives late in the negotiation process is that we might find ourselves in a position where we have no time left and then we may be forced to accept an outcome we would have preferred to avoid.
The key to successfully developing alternatives is to do so even before you start negotiating. We do not really invest ourselves in creating alternatives. Whilst we may think about alternatives, often we do not put in place specific actions to develop these alternatives. It is very important that once we’ve identified possible alternatives that we actually actively engage in exploring these alternatives.If you want both power and leverage in your negotiations, then you will have no option but to explore fully all the alternatives available to you. As a matter of fact, you may even have to invent some alternatives if there seems to be no alternatives available. Remember that successful negotiations and creativity go hand in hand.
Here’s a word of warning though. You should carefully think about whether you should let your counterparty know about the alternatives that you at your disposal. If you are in a very competitive negotiation environment then there is not much harm in letting your counterpart know that you have many alternatives available. However, if you are in a collaborative environment, it may be best to not openly reveal the alternatives available to you as this may have a counterproductive impact on your relationships.