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The Art of Negotiation in 535 words > NetSparsh - Viral Content you Love & Share

The Art of Negotiation in 535 words

I want to get better at negotiation, but where to start? UK Amazon currently has 2332 books on negotiation. Google indexed nearly 4 million relevant (yeah right) pages. All I need is a simple, straightforward model that I can put to use now.

Phased by the glut of information, I went within and remembered the wise teachings from a senior manager in my early working life. So, come closer, listen up, because he was very wise indeed?

He said "Do you know your LIMits?"

"My what? said I cautiously, wondering if he was asking about my drinking capacity, driving speed or something equally off the wall.

Being worldlier than I, he noticed my confusion and helped me out.

"Lyndsay, if you want to be successful in life, you need to know your LIMits. Let me explain. What would you Like to have? What do you Intend to have? What Must you have? What are your LIMit's?"

Slowly it dawned on me that he was talking the strange management language of mnemonics.

He wrote down the word for me like this.

L
I
M
I
T
S

And next to the letters he wrote

L ? like to have: your number 1, top of the pile, best outcome
I ? intend to have: your realistic, shoot for the stars but reach the moon outcome
M ? must have: your bottom line. Deal is off if this is not met.

(The I,T and S are irrelevant, just convenient additions to prevent asking what your LIM are!)

Testing the Theory

And so ended his lesson. Off I scampered like the eager young graduate I was, itching to put this into practice. Thinking about a possible secondment opportunity I wrote the following:

Like ? 10% bonus, new laptop, mentoring with new senior manager
Intend ? 5% bonus, attendance at special course, return to new job after secondment
Must ? same pay, relocation expenses paid, credit in my appraisal

The final deal I struck landed somewhere between Like and Intend, with a few perks I had not even considered, so I felt it was a success.

Why Negotiation Works

There are a couple of reasons why simple models are useful but often forgotten.

The LIMits negotiation model encourages flexible thinking in that there are 3 potential good outcomes. Compare this with the most common alternative - success or failure ? and you can see there is only 1 measly good outcome. You don't have to be a gambling pro to work out which approach is best! The secret of the LIMits model is if you don't meet all the criteria for success, then the opposite is not failure, just a different outcome.

The other benefit of using the LIMits negotiation model is it forces you to prepare, gaining you vital spare capacity when you are in the thick of the negotiation. You will be clear about your position and better able to get that across.

Information overload

As I demonstrated, simple models are forgotten because we seek out newer, shinier ideas in books, the internet or from other sources. Reduce information overload by re-using what you already know or recycling an old idea into one that works today. Old knowledge is not always redundant.

So, negotiate that new job, better deal or contract. All you need is to know your LIMits.

Lyndsay Swinton is an experienced team leader, people manager and business coach. Her website is www.mftrou.com - 'Management for the rest of us'. Subscribe to her free no-nonsense Management Tips newsletter at mftrou.com today.

In The News:

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New York Times

Grassley Extends Negotiation Deadline for Christine Blasey Ford
New York Times
WASHINGTON — After a tense night of legal brinkmanship, the chairman of the Senate Judiciary Committee late Friday told lawyers for the woman who has accused Judge Brett M. Kavanaugh of sexual assault that they can have until 2:30 p.m. Saturday to ...
Trump Attacks Kavanaugh Accuser By Name Amid Negotiations For HearingNPR

all 18,892 news articles »

Farm Futures

US and Canada in 'continuous negotiation'
Farm Futures
U.S. Trade Representative Robert Lighthizer and Canadian Foreign Minister Chrystia Freeland met Thursday in Washington, negotiating while a prominent Canadian union leader stood outside and sounded the alarm over deal-breaker issues. Thursday was ...
Freeland returns to Canada empty-handedPolitico

all 167 news articles »

Los Angeles Times

Review: Sluggish South Korean crime drama 'The Negotiation' fails to create sparks
Los Angeles Times
Marked by its lack of intensity, the South Korean crime drama “The Negotiation” stars Son Ye-Jin as no-nonsense Seoul police inspector Ha Chae-youn, who specializes in defusing hostage situations, and Hyun Bin as charming arms dealer Min Tae-gu.


Harvard Business Review

Research: Simple Prompts Can Get Women to Negotiate More Like Men, and Vice Versa
Harvard Business Review
Do we lie to get what we want out of negotiations? That depends, according to forthcoming research I conducted with Jason Pierce of the University of North Carolina, Greensborough. We found that the likelihood of engaging in unethical behavior during ...


Born2Invest

How to negotiate as if your life depended on it
Born2Invest
Rather he suggests renovating the art of negotiation to “never split the difference.” In his situations, splitting the difference meant losing lives. According to Voss, the only successful negotiation is when your counterpart believes giving you ...


Hiring process for Rantoul administrator still in negotiation phase
Champaign/Urbana News-Gazette
RANTOUL — The hiring of a new Rantoul village administrator remains "in the negotiation phase." The new hire would fill the position currently held by Rick Snider, whose contract runs through this month. "The (finalist for the post) and I have met. We ...


United Steelworkers warns US Steel that negotiation time is running out: union
S&P Global Platts
Earlier in September, union members unanimously authorized a strike against US Steel if negotiations failed. A strike would require 48-hour notice to the steelmaker to insure a safe suspension of operations. "Time is running out. From day one, US Steel ...

and more »

New York Times

Christine Blasey Ford Opens Negotiations on Testimony Next Week
New York Times
The surprise offer was the latest twist in an on-again, off-again negotiation between Dr. Blasey and Senate Republicans, who have scheduled a hearing for Monday and set Friday as a deadline for Dr. Blasey to tell them whether she would attend. “She ...

and more »

Fast Company

All the things you're doing wrong in negotiations
Fast Company
Most of us think we know what matters most to the other party before we even sit down to negotiate, and that getting what we want comes at the expense of others. Based on these assumptions, the value we create for ourselves and other parties involved ...


euronews

How to negotiate anything, according to neuroscience
euronews
According to Swart, science (findings from neuropsychologist Ian Robertson cited in his book, "The Winner Effect", for example) says you're more likely to come out ahead if you've just won at something else, even if completely unrelated to the ...

Google News

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