Humpback whales instinctively return annually to the breeding grounds in Magdalena Bay. The whale hunters know when the whales return and to go to sea prepared for a good hunt.
Developing a working knowledge of the negotiating or mediation process is essential to mastering the art of negotiations. Understanding the issues at hand and the participants gives you the foundation to establish a strategic plan. Knowing what you need to achieve rather than what you may want establishes the base line parameters for your strategies.
Take the time to prepare adequately so you know your material, the facts, your opponent, and your needs and wants. Only then are you prepared and ready to engage in a settlement conference.
Without a plan, knowledge is of limited value. Knowledge becomes a powerful negotiating tool when it is used to develop a strategic plan. Knowing the value structure of a transaction is important but be sure to consider non-monetary aspects of the discussion. What may have little tangible value for you or the other person may have immense emotional or intangible value. Such intangible issues often are more important that the dollars and cents being discussed.
Knowledge is more than just knowing facts; it includes understanding the import of each element if the issue, problem or opportunity.
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