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Win-Win: Mastering the Art of Negotiation

I've had various conversations over the past week with people where this has come up, so thought I'd include it this week in this section. Negotiation happens in our lives everywhere, not just in the boardroom. I even have to negotiate with my kids every night to get them to brush their teeth!


It's is an art that is often misunderstood. Whether you're discussing terms with potential investors, crafting deals with business partners, or simply engaging in day-to-day activities, the aim is always to create a mutually beneficial outcome with the other party. In other words, aim for the Win-Win.


The visual below outlines four primary negotiation outcomes, highlighting the spectrum from aggressive to passive approaches and their impact on outcomes and relationships.


How To Negotiate like a Boss:



a diagram of negotiation - i win, you lose, i win, you win, i lose, you lose, and i lose, you win


In negotiations, ‘I win, you lose’ may seem appealing in the short term, but it often leads to burnt bridges. On the flip side, the ‘I lose, you win’ approach can leave you undervalued and resentful. Striking a balance where both parties feel victorious is the cornerstone of maintaining positive relationships.


The least optimum outcome is where neither you nor the other party care about either the relationship or the outcome, resulting in passive aggressive actions. Remember, you are only ever in control of your approach, so a successful negotiation requires both parties to meet at a point of win-win.


But, a win-win outcome isn’t just about compromise; it's about finding synergies and understanding the underlying interests of both sides. It's about being assertive yet empathetic, ensuring that the end result benefits all involved, fostering trust, and setting the stage for future collaborations. It's also possible through approaching with a win-win attitude, for you to both to walk away, with your reputation intact.


This week, challenge yourself to approach negotiations with the win-win mentality. Whether it's with potential property investors or homeowners in the property space, or your boss or potential new customers at work.


Remember that successful negotiations are the ones where everyone walks away satisfied, and that you can only control you.


Here's to growing together💪


Thought For the Weekend #TFTW

"Some things are up to us, and some things are not up to us."
Epictetus

The great Stoic, Epictetus, reminds us of the fundamental dichotomy of control, urging us to focus on our own actions and attitudes, which are within our power.

This type of outlook sometimes helps people to reinforce their belief that they are a victim of the things that happen to them in their life, or that they can only react to what happens.


However, it should also affirm that we can shape our lives to some extent too.

We can think positively, and we can dream and imagine outcomes far beyond where we are currently.


These things are within our control, as much as the mundane actions we take each day.

We need to remember that when we suffer setbacks in our lives, or else we fall into a victim mentality where we are at the mercy of everything.


Don't try to control everything, because that is not a realistic outcome, but do all you can to achieve what you want, and let go of those things that you can't change.


If you liked the thought this week share it on the socials with #TFTW and tag me (@darren_green_coaching) so we can reach more people like you with this message!

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