In the world of business, negotiation is a crucial skill. Knowing when to lead and when to follow, understanding the other person's point of view, and coming up with creative solutions, all contribute to successful outcomes. Here are the main phases of a successful negotiation.

1. PHASES OF
NEGOTIATION

2. NEGOTIATION
The art of negotiation refers to the skillful and strategic
process of reaching an agreement or settlement between
two or more parties who have conflicting interests or
positions. It involves a series of interactions, discussions,
and compromises aimed at finding a mutually acceptable
solution that satisfies the interests of all parties involved.

3. PHASES OF NEGOTIATION
In the world of business, negotiation is a crucial skill.
Knowing when to lead and when to follow, understanding
the other person's point of view, and coming up with
creative solutions, all contribute to successful outcomes.
Here are the main phases of a successful negotiation.

4. STAGE 1
PREPARATION IS KEY
GATHER
INFORMATION
CREATE A CHECKLIST PREPARE NOTES BATNA
Know your goals,
constraints, and values.
Understand the other
person's needs and
perspectives by
researching their priorities
and interests.
Write down the topics you
want to discuss, prioritize
them, and assign a level of
importance to each. This
will help you stay on track
and reach your goals
without wasting time.
Take detailed notes on the
conversation. This will help
you remember key points
and follow up after the
meeting. Use a calculator
to run the numbers and
avoid mistakes.
Best Alternative To a
Negotiated Agreement. It is
defined as the most
advantageous alternative
that a negotiating party can
take if negotiations fail and
an
agreement cannot be made

5. STAGE 2
EXCHANGE OF INFORMATION
1 3
2
Pay attention to the other person's body
language, tone of voice and non-verbal
cues. Find out what they need, want and
expect from the negotiation. Paraphrase
what they say to make sure you
understand.
Start with a friendly greeting and explore
common ground. Use open-ended
questions to encourage the other person
to share their point of view.
Clearly and concisely state your position
without overwhelming the other person
with too much information. Stay flexible
and open to alternative solutions.
LISTEN ATTENTIVELY
SET THE TONE
EXPRESS YOUR POSITION

6. STAGE 3
CLARIFICATION
During the clarification step, both sides
continue the discussion that they began
when exchanging information by justifying
and bolstering their claims. If anyone has
any disagreement, they should discuss that
disagreement in calm terms to reach a
point of understanding.

7. Propose creative solutions that address
both parties' interests. Be specific, clear
and concise. Offer incentives and
benefits to make your proposal more
attractive.
Politely but firmly respond to their
arguments, explaining why they don't
meet your goals or are not acceptable.
Use factual evidence to support your
claims. Stay respectful and positive.
MAKE A PROPOSAL
RESPOND TO THEIR
ARGUMENTS
STAGE 4
BARGAINING
Offer a compromise that shows good
faith and a willingness to work
collaboratively. Be prepared to make
small concessions but don't sacrifice your
main goals.
RESPOND TO THEIR
ARGUMENTS
Stay alert to objections and red flags.
Know your limits and prepare alternatives
in advance. Stay flexible and look for
creative solutions.
ANTICIPATE OBJECTIONS

8. STAGE 5
CLOSING AND AGREEMENT
CONFIRM AGREEMENT
Summarize the agreement and
confirm it with the other person.
Make sure everyone is on the
same page and has a clear
understanding of the terms.
PUT IT IN WRITING
Put the agreement in writing
and have both parties sign it.
This will avoid any
misunderstandings or disputes
that may arise later on. Keep a
copy for your records.
CELEBRATE
Enjoy the sense of
accomplishment and celebrate
the successful negotiation with
the other person. This will
encourage a positive business
relationship in the future.

9. Make sure you follow up on any further
action items or commitments. This will
help cement the relationship and ensure
that future interactions are productive.
FOLLOW UP ON ACTION ITEMS
THE FINAL DETAIL
1
3
2
Stay in touch with the other person after
the negotiation. Create a professional
and friendly relationship that may lead to
future collaborations.
STAY CONNECTED
Take some time to reflect on the
negotiation process and what you
learned from it. Think about what you
could do to improve your negotiation
skills and become an even more effective
negotiator.
REFLECT ON THE PROCESS

10. Preparation is Key
Communication Skills
Count
Collaboration is the Key
to Success
CONCLUSION
Key points to remember