There are lots of areas of importance in a negotiation. This is part 3 in a five part series which focuses on the being clear about each of the five parts to creating and staying with an effective range. There are five interactive areas that make up the range: the Wish, the Aspiration, the Bottom Line, the BATNA, and the WATNA. See Parts 1 and 2 to learn about the Power of the Wish and Power of the Aspiration.
The Power of the Bottom Line:
The Bottom Line in negotiations is the least you will accept as a seller or the most you will pay as a buyer. I have asked hundreds of people in our Bold New Directions training programs if they have ever gone past their Bottom Line. 90% of people have in past negotiations. There is a reason it is called the Bottom Line. You have to do your prep work fully to know what your limits are prior to any negotiation. And if you have a limit, make sure it is your limit. In this case of negotiation, the limit is $335,000 from the seller’s perspective.
How to Learn More:
Want to learn more about negotiation skills and the key elements of range? Stay tuned for parts 4 and 5 of this series on creating range in your next negotiation. All five of these elements work together in successful negotiations. Look for future posts about the other three elements to broaden your negotiation skills. Use all of the negotiation tools and you will be much more successful in getting what you want in negotiations (while ensuring other parties are content too). For more information about negotiations skills or negotiations training courses please visit https://boldnewdirections.com or www.negotiationstraininginstitute.com today.
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About The Author:
Jim Hornickel is co-founder of Bold New Directions, a transformational learning company that works with companies to transform people and performance through training solutions including seminars, webinars, coaching and keynote events. Bold New Directions specializes in training solutions that build leadership skills, communication skills and resilience at work. Jim leads dynamic workshops that help professionals grow their negotiation skills. You can learn more about Jim Hornickel and the topic of Negotiations Training at Bold New Directions by visiting the company web site at www.boldnewdirections.com or at our negotiations training site www.negotiationstraininginstitute.com