Negotiation is often seen as the art of deal making, but not all deals are meant to be made. When you find yourself at a point where a negotiation isn't culminating in a deal, how do you gracefully walk away from the negotiation table? In this article, we'll explore the key principles and strategies for mastering the art of graceful departures in negotiation, focusing on mindset, preparation, respectfully walking away, helping your counterpart save face, and leaving the door open for future negotiations.
Mindset: Not Every Deal is Meant to Be Made
Negotiation begins with the right mindset. Negotiation is really about the art of deal discovery, rather than deal-making. When you approach negotiations with the sole intention of making a deal, you may feel pressured to concede on your terms. The worst outcome in a negotiation isn't failing to reach a deal; it's being trapped in a deal that never should have been made.
Shifting your perspective to deal discovery alleviates the pressure, allowing you to lead with curiosity, understand your counterpart's needs, and clearly articulate your own. The negotiation becomes a collaborative effort to create a mutually beneficial deal. If it can be done, great. If not, that’s okay too. This mindset can take the desperation out of the negotiation process.
Preparation: The Power of a Strong BATNA
Before entering any negotiation, it's crucial to have a Best Alternative to a Negotiated Agreement (BATNA). It’s essentially your backup plan if a deal cannot be reached. A strong BATNA decreases the feeling of need in the negotiation. If you rely solely on one person or deal for your success, you may feel and appear needy, which can lead to unfavorable concessions.
In the world of negotiation, it’s important to distinguish an alternative from an option. AN alternative is something that works with or without the deal, while an option is a proposal presented during the negotiation. By improving your BATNA, you bolster your confidence at the table. You don't need to accept a deal that doesn't align with your interests because you have a better option on the back burner.
Read More: Achieving The Impossible: Tips From Negotiation Expert William Ury
For example, if you're negotiating for a raise, having a job offer with better terms serves as your BATNA. This empowers you to confidently discuss your current salary request, knowing you have an alternative. However, be cautious not to become overconfident, as persistence can sometimes hinder your success.
Respectfully Walking Away: When and How
Knowing when to walk away is an art in itself. While it's an imprecise science, considering your BATNA and the momentum of the negotiation is crucial. When concessions become smaller, and the momentum slows down, you may be approaching your counterpart's bottom line. It's time to evaluate whether a deal is achievable.
If you reach an impasse, it's essential to communicate your decision to walk away respectfully. Avoid burning bridges and remember that circ*mstances can change. For that reason, it may be beneficial to help your counterpart save face.
An easy way to do this is by saying, "Based on where we are right now, it doesn't look like we're going to come to an agreement, but I've enjoyed the process of negotiating with you. If anything changes on your end, please let me know, and I'll be happy to come back and see if we can make something work."
This approach leaves the door open for future negotiations while allowing your counterpart to exit with dignity.
Leaving the Door Open for Future Negotiations
Walking away from the table doesn’t always mean the end of the negotiation process.
Should the other side return to table, resist the temptation to gloat or accuse them of bluffing. Instead, seek to understand what changed on their end and why they now want to renegotiate. This information can provide valuable insights and potentially give you more leverage than you initially thought.
Remember, every offer comes with information. If your counterpart is willing to risk their reputation and return to the table, it may indicate that they need the deal more than they let on initially. However, stay true to your principles and boundaries. If a deal doesn't sit right with you emotionally, don't compromise for the sake of financial gain.
Finally, it’s important to avoid walking away as a bluff. This back easily backfire and place you in a vulnerable position.
Mastering the art of graceful departures from the negotiation table involves a combination of the right mindset, strong preparation, respectful communication, and strategic transparency. Not every deal is meant to be made, and recognizing when to walk away is as crucial as knowing how to stay engaged. Leaving the door open for future negotiations allows you to maintain positive relationships and opportunities for collaboration. Negotiation is about discovery, not just deal making, and by approaching it with the right mindset and strategy, you can achieve better outcomes and maintain your integrity in the process.
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