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Question & Answer

Home > Resources > Q & A

Preparing for Negotiations

Alan Johnson Asks:

Is there a rule of thumb about the ideal amount of preparation for negotiations?


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Answer:

We know that in today’s global business environment the scarcest commodity is time. Most people will agree that preparation for negotiation is the most important contributor to optimising negotiated outcomes. I would recommend that you spend at least 2 or 3 times as long in preparation for negotiation as you plan to actually be engaged in live negotiations. Make sure that you cover each of the Four Pillars (Vision, Value, Process & Relationships) adequately in your preparation.

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The Negotiation Academy (TNA) – http://www.negotiationeurope.com - is a specialist business negotiation management consultancy headquartered in London. Committed to delivering both best and leading practice business negotiation solutions, TNA collaborates with clients to instil a world class negotiation capability. With deep industry experience in several market sectors, global resources and a proven track record, TNA is uniquely positioned to assist clients to avoid the losses associated with sub optimal negotiations. TNA has a core competency in sales negotiation training , purchasing negotiation training and executive negotiation training (mergers & acquisitions negotiation training, asset management negotiation training, corporate finance negotiation training etc.)