What lies behind a negotiation between two parties? Reaching an agreement in the business world goes beyond simply defining what you want to achieve.
This is noted by Rodolfo Lazalde, a professor at Tecnológico de Monterrey’s Aguascalientes campus, who has more than 22 years of professional experience in the business sector.
According to the specialist, effective negotiation does not always mean closing a deal: “Sometimes the best decision is not to make a decision and to end the session without an agreement, rather than accepting something that would harm the organization,” he explained.
Lazalde teaches a course on negotiation for developing strategic partnerships at the campus and shared five key strategies for confidently approaching any negotiation.
1. Prepare your strategy before speaking
The instructor mentioned that entering a meeting without knowledge of the market, the other party’s culture, or one’s own limits would place anybody at an immediate disadvantage.
“Preparation is everything; if you don’t arrive well-prepared, the other party will have the advantage,” he warned.
Researching the other party’s value structure and language helps determine their strengths and actual power before the first meeting.
“Sometimes the best decision is not to make a decision and to end the session without an agreement, rather than accepting something that would harm the organization.”
2. Keep a cool head during tense moments
Lazalde said that self-control and empathy are decisive when numerical discrepancies or differences in information arise.
He emphasized that rushing to close the deal or reacting defensively can hinder the building of lasting business relationships.
3. Adapting tools to the digital world
The professor recommended conducting 80% of conversations via virtual platforms, as written follow-up prevents misunderstandings.
He also suggests sending a preliminary introduction with the agenda and, at the end of the session, drafting minutes that include commitments, those responsible for them, and deadlines.
“Preparation is everything; if you don’t arrive well-prepared, the other party will have the advantage.”
4. Avoid pressuring the other party
Constantly pressuring the other party, Lazalde noted, produces a negative effect and can end up blocking communication between the parties.
Furthermore, he mentioned that knowing when to stop persisting demonstrates respect for others’ time and keeps the door open for future opportunities.
5. Build a list of reactions
To overcome the fear of conflict, Lazalde advises mapping out the other party’s possible responses to each proposal in advance.
“Conflicts lead us to new opportunities. If you have an list of possibilities ready, you’ll know which direction to take without losing confidence,” he concluded.
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