Win-win Strategies

January 28, 2021

When one thinks of negotiating, the word “compromise” comes to mind, and most of us typically do not want to make large compromises. If you are someone who likes getting their way (because let’s face it, who doesn’t?), there is a negotiation process called win-win negotiating which involves both parties walking away with their desired outcome. To be more specific, win-win negotiating is a negotiation which involves each party walking away from the bargaining table with an outcome that satisfies all parties. Often the best approach is to ask yourself a simple question: How can I help the other party meet their needs?

The question now is, how do you ensure a win-win negotiation? You implement win-win strategies!

Win-win strategies are designed to increase your opponent’s satisfaction even as you achieve the outcome you desire. These strategies can be particularly useful when you are faced with unfavourable odds or powerful opponents.

Some examples of win-win strategies include:

Manage the expectations of your opponent prior to and during the negotiation;
Avoid making concessions too early in the negotiation to avoid increasing your opponents’ expectations;
Ensure your opponent perceives their outcome as beneficial by being modest about your gains from the deal, and always compliment your opponent for their hard bargaining;
Make sure that you give your opponent a voice in the decision process to ensure that you are acknowledging their perspective;
Invite your opponent to share their views or suggest alternatives; and
Enhance the perception of fairness after an outcome has been decided by providing detailed explanations for unappealing actions or outcomes.

If you need assistance with a negotiation or would like us to negotiate on your behalf, please contact our team at Chris Sheath & Associates by phoning 07 4638 5541 for further information.

Sources: The Program of Negotiation 2021, Win-win Negotiations, Massachusetts, viewed 20 January 2021, https://www.pon.harvard.edu/category/daily/win-win-daily/.

Latest Blogs

Joint Tenants vs Tenants in Common

If you have recently purchased a property or are in the midst of buying your first property with another person, you may have come across the terms “joint tenancy” and...

How To Stay Level-Headed During Negotiation

It is easier said than done to remain “calm, cool and collected” in a heated situation. When in a tense environment, staying level-headed is often difficult when emotions take control....

What you need to know about managing your BATNA

Your Best Alternative to Negotiated Agreement (BATNA), is defined as the most advantageous alternative that a negotiating party can take if negotiations fail and an agreement cannot be made. In...

6 Ways to Legally Protect Your Small Business

Have you been looking at ways to legally protect your small business? We have included six simple steps that we would recommend every business owner should follow when starting a...

Pets in Wills

Pets and companion animals are important parts of our lives and family. Did you know that without a relevant Will in place, your final wishes including plans for your pets...

How To Prevent Your Will From Being Contested

Over the past five years, we have seen a dramatic increase in the number of wills being contested. Factors contributing to this surge include Australia’s ageing population – with more...

Changes To The Enduring Power Of Attorney Regime

The Queensland Government is introducing new Enduring Power of Attorney and Advance Health Directive forms from 30th November 2020....

The most important advice you will receive before buying or selling your home

For many of us, the biggest investment we will make will be the purchase of property including our own home....

Supreme Court of Queensland confirms an attorney can enact a binding death benefit nomination

The Supreme Court of Queensland has recently confirmed the making of a binding death benefit nomination (BDBN) is a financial matter....

Chris Sheath & Associates listed as recommended Wills, Estates and Succession Planning Law Firm by 2020 Doyle’s Guide.

It seems that for many, deciding on a child’s education or even where to eat dinner is given more critical thinking than...