Variables to be aware of when negotiating

Negotiation is a vital skill in business and for success in life generally.

People define negotiation as the one ability that gives a better chance of making the most of success in business outcomes.

One may easily get overwhelmed with the scheme of negotiations. However, with a guide like The Negotiation Society, you can get valuable insights on how to make your negotiations go smoothly.

The Negotiation Society is a dynamic community of over 20,000 members, sharing and debating negotiation insights and opinion.

Following detailed research, the community has identified specific factors that should not be overlooked in the process of negotiation. These factors are referred to as variables.

Certain variables come to play to reach an agreement in every deal. It is essential to have an in-depth knowledge of which variables to consider and how to use them in ensuring favorable negotiation outcomes.

These variables often come up in all different negotiation styles. Know them and use them to broaden the scope of your agreement.

PRICE: Determining the amount involved in a deal is essential. Both parties must have clarification on the cost involved in an agreement and their financial commitments. It is advisable to feature various pricing structures, depending on the product, geography, and relationship. It is also ideal for the price to link to other variables.
VOLUME: This answers the question of how much or how many. It also tells what types of a product or service you both discussed. You will find that there is a direct correlation between the price involved and volume.
Be clear on what amount (in terms of size) to expect from a deal. When you are unaware of the quantity required, you may discover you are at a disadvantage, after the conclusion of negotiations.
CONTRACT DURATION: Consider factors such as the start, pauses, delays, and stop of the project. Also, highlight different scenarios that may arise to extend or terminate the deal period. Having the full scope of this variable allows you to control the terms of your negotiation. This is especially important when negotiating with freelancers.
TERMS OF PAYMENT: Break a deal down to include specific conditions. It prevents being caught unaware of financial commitments and expectations. Conditions such as when and how payment will be made, or advance deposit.
ALSO, BREAK DOWN TERMS TO INCLUDE: Paying by installments and waiver for delayed payment and penalty for defaulting payments. With this variable in check, you can make the deal even more valuable for yourself.
Negotiations involving terms of payment usually reduce the risk of a loss on both parties. The history of both party’s relationships and the conditions set by the dominant party in the negotiation determines the terms.
FEATURES AND SPECIFICATIONS: This references everything that determines the quality of the deliverable. Characteristics such as materials used in production affect the quality and result. Discussing what exact features to expect of the deliverables will clarify what to offer.
It also helps avoid conflicts arising from the delivered product or service, not meeting the expectation of the other party. The features and specifications of an item often have a direct link with the price. The more complex the procedure involved, the more the details expected, and the higher the quality of the product expected, the higher the cost of that product.

In most cases, the classic example of “expectation versus reality” could have been avoided, if variables in a negotiation are considered and thought through thoroughly.

When some factors are not reviewed or discarded as irrelevant, the result may be an unsatisfactory delivery, which dampens relationships. Inadequate deliveries and dampened alliance defeat the purpose of negotiation.

Know your facts, consider the variables in negotiation, and take control of your next deal.

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— Will Corry (@slievemore) May 3, 2019

Variables to be aware of when negotiating

Negotiation is a vital skill in business and for success in life generally.

People define negotiation as the one ability that gives a better chance of making the most of success in business outcomes.

One may easily get overwhelmed with the scheme of negotiations. However, with a guide like The Negotiation Society, you can get valuable insights on how to make your negotiations go smoothly.

The Negotiation Society is a dynamic community of over 20,000 members, sharing and debating negotiation insights and opinion.

Following detailed research, the community has identified specific factors that should not be overlooked in the process of negotiation. These factors are referred to as variables.

Certain variables come to play to reach an agreement in every deal. It is essential to have an in-depth knowledge of which variables to consider and how to use them in ensuring favorable negotiation outcomes.

These variables often come up in all different negotiation styles. Know them and use them to broaden the scope of your agreement.

VOLUME: This answers the question of how much or how many. It also tells what types of a product or service you both discussed. You will find that there is a direct correlation between the price involved and volume.

Be clear on what amount (in terms of size) to expect from a deal. When you are unaware of the quantity required, you may discover you are at a disadvantage, after the conclusion of negotiations.

TERMS OF PAYMENT: Break a deal down to include specific conditions. It prevents being caught unaware of financial commitments and expectations. Conditions such as when and how payment will be made, or advance deposit.

ALSO, BREAK DOWN TERMS TO INCLUDE: Paying by installments and waiver for delayed payment and penalty for defaulting payments. With this variable in check, you can make the deal even more valuable for yourself.

Negotiations involving terms of payment usually reduce the risk of a loss on both parties. The history of both party’s relationships and the conditions set by the dominant party in the negotiation determines the terms.

FEATURES AND SPECIFICATIONS: This references everything that determines the quality of the deliverable. Characteristics such as materials used in production affect the quality and result. Discussing what exact features to expect of the deliverables will clarify what to offer.

In most cases, the classic example of “expectation versus reality” could have been avoided, if variables in a negotiation are considered and thought through thoroughly.

When some factors are not reviewed or discarded as irrelevant, the result may be an unsatisfactory delivery, which dampens relationships. Inadequate deliveries and dampened alliance defeat the purpose of negotiation.

Know your facts, consider the variables in negotiation, and take control of your next deal.

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Negotiation is a vital skill in business and for success in life generally.

People define negotiation as the one ability that gives a better chance of making the most of success in business outcomes.

One may easily get overwhelmed with the scheme of negotiations. However, with a guide like The Negotiation Society, you can get valuable insights on how to make your negotiations go smoothly.

The Negotiation Society is a dynamic community of over 20,000 members, sharing and debating negotiation insights and opinion.

Following detailed research, the community has identified specific factors that should not be overlooked in the process of negotiation. These factors are referred to as variables.

Certain variables come to play to reach an agreement in every deal. It is essential to have an in-depth knowledge of which variables to consider and how to use them in ensuring favorable negotiation outcomes.

These variables often come up in all different negotiation styles. Know them and use them to broaden the scope of your agreement.

VOLUME: This answers the question of how much or how many. It also tells what types of a product or service you both discussed. You will find that there is a direct correlation between the price involved and volume.

Be clear on what amount (in terms of size) to expect from a deal. When you are unaware of the quantity required, you may discover you are at a disadvantage, after the conclusion of negotiations.

TERMS OF PAYMENT: Break a deal down to include specific conditions. It prevents being caught unaware of financial commitments and expectations. Conditions such as when and how payment will be made, or advance deposit.

ALSO, BREAK DOWN TERMS TO INCLUDE: Paying by installments and waiver for delayed payment and penalty for defaulting payments. With this variable in check, you can make the deal even more valuable for yourself.

Negotiations involving terms of payment usually reduce the risk of a loss on both parties. The history of both party’s relationships and the conditions set by the dominant party in the negotiation determines the terms.

FEATURES AND SPECIFICATIONS: This references everything that determines the quality of the deliverable. Characteristics such as materials used in production affect the quality and result. Discussing what exact features to expect of the deliverables will clarify what to offer.

In most cases, the classic example of “expectation versus reality” could have been avoided, if variables in a negotiation are considered and thought through thoroughly.

When some factors are not reviewed or discarded as irrelevant, the result may be an unsatisfactory delivery, which dampens relationships. Inadequate deliveries and dampened alliance defeat the purpose of negotiation.

Know your facts, consider the variables in negotiation, and take control of your next deal.

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