Key Points

To determine your objectives for a negotiation, ask:

- What are you trying to accomplish in this negotiation?

- What are they trying to accomplish?

There are two types of objectives: (1) business (substantive) and (2) personal.
Determining wants helps explore needs leading to objectives and positions.
Effective negotiators develop a settlement range that includes:

- Desired settlement point.

- Opening position.

- Walk-away point.

Using additional currencies can close the gap in the settlement range and enhance the overall value of the deal to both parties.

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