Although identifying your own critical wants and needs is an essential step in the negotiation planning process, it will serve you well to work through what you think the other side’s wants and needs might be. Ask yourself two questions:
|1.||What are you trying to accomplish in this negotiation?|
|2.||What are they trying to accomplish?|
Answering these questions leads you to two types of negotiation objectives:
Business (or substantive): Increase revenue, gain market share, reduce costs, acquire a key customer, get resources from another department, buy a decent house at a reasonable price, get a fair property settlement.
Personal: Enhance a reputation within the industry or community, maintain a strong relationship with the other party, look good to management, increase the individual’s power in future negotiations.