Business Negotiation Techniques That Work

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Mediation/Arbitration

Business Negotiation Techniques That Work

It never fails. And even while negotiating virtually, via Zoom, the parties and their attorney reveal why they still have not settled their litigation case. They all have expressed wanting to resolve their matter; not wanting to go to a lengthy, expensive trial full of uncertainty. Yet they’ve made little to no progress negotiating. They are the problem.  Their approach is the problem.  And obviously, their negotiation approach prevents them from achieving better outcomes.

Negotiating positions to reach an amicable settlement agreement rarely happens when both sides have a “Sword-n-Shield” approach.  Mediation works. And when a skilled neutral empowers the parties through a “Bridge-n-Brick” approach, better outcomes are achieved.

Proven Negotiation Tips:

Here are some negotiating tips that may help adverse parties achieve better outcomes:

  1. Prepare Thoroughly: Understand your case inside and out before entering negotiations. Know the strengths and weaknesses of your case, as well as the strengths and weaknesses of the other party’s case.
  • Set Realistic Goals: Before entering negotiations, determine your goals and what you are willing to settle for. Be realistic about what you can achieve and what you are willing to give up. THINK OUT THE BOX
  • Listen Carefully: Active listening is crucial in negotiations. Pay close attention to what the other party is saying to understand their perspective and concerns. This will help you tailor your responses effectively.
  • Maintain Professionalism: Always maintain a professional demeanor during negotiations. Avoid escalating conflicts and focus on finding common ground to reach a resolution.
  • Focus on Interests, Not Positions: Instead of getting stuck on specific demands or positions, focus on the underlying interests of both parties. Try to find solutions that meet the interests of both sides.
  • Explore Creative Solutions: Be open to exploring creative solutions that may benefit both parties. Sometimes thinking outside the box can lead to a more satisfying resolution for everyone involved.
  • Stay Calm and Patient: Negotiations can be stressful, but it’s important to stay calm and patient throughout the process. Take breaks if needed to regroup and refocus.
  • Document Everything: Keep detailed records of all communications and agreements reached during negotiations. This will help prevent misunderstandings and provide clarity if disputes arise later.
  • Consider Alternatives: If negotiations are not progressing, consider alternative dispute resolution methods such as mediation or arbitration to help facilitate a resolution.
  1. Consult with Experts: If needed, seek advice from other legal experts or professional negotiators who can provide guidance/support during the negotiation process.

Remember that each case is unique, and these tips should be adapted to suit the specific circumstances of your negotiation/litigation.

Stanley Zamor is a Florida Supreme Court Certified Circuit/Family/County Mediator & Primary Trainer and Qualified Arbitrator.  Mr. Zamor serves on several federal and state mediation/arbitration rosters and mediates with the Agree2Disagree (ATD) Mediation Group. As an ADR consultant/professional he regularly lectures on a variety of topics from ethics to Family/Business relationships.  ZamorADRExpert@gmail.com ; www.effectivemediationconsultants.com; www.agree2disagree.com; www.LinkedIn.com/in/stanleyzamoradr. (954) 261-8600