In the legal profession, negotiation is an obvious and intrinsic part of everyday life but it’s not a skill that is unique to our sector and it can be one of the most valuable tools anyone in business can develop writes Linda Fyffe, Managing Partner, Laurie & Co.
From agreeing commercial terms or supplier prices, to navigating property transactions or team dynamics the need to negotiate can arise in pretty much any business so it’s important to understand how to approach situations in a way that’s well informed and maximises your efficiency when trying to reach an agreeable position.
The ability to try and see a situation through someone else’s eyes can be fundamental to the success of any situation that requires negotiation. That doesn’t mean you should abandon your own objectives, but an empathetic view can help give you a more rounded perspective. It might also enable you to plan for when you might need to pivot your approach, and that’s why successful discussions often start with listening rather than talking.
It may sound counterintuitive but some of the best negotiators spend most of their time focusing not on their own perspective but trying to step into the other party’s shoes and trying to get under the skin of what the other side wants. Once you start to understand someone else’s standpoint, priorities or objectives it can be much easier to see where the middle ground might be. From there, you can start to map your route to achieving your desired position, or as near to it as possible, whilst understanding that negotiations are rarely linear or predictable in how they play out.
Pushing forward is often critical in a negotiation situation, but knowing when to walk away, or call in professional help, can also be important: sometimes stepping away isn’t failure but it may be the best commercial decision, especially if you risk accepting outcomes that don’t serve your interests in the long run.
In the end, negotiating is fundamentally based on understanding people and having the ability to approach situations by communicating clearly and confidently. With the right skills, you may become even better equipped to use the power of negotiation to build stronger relationships and create sustainable growth for your organisation.
At its core, negotiation is about trying to get the best possible outcome from a situation and that’s important for all of us in the business world.
To find out more, visit www.laurieandco.co.uk