Every negotiation starts with opening the negotiation, setting up expectations and closing the deal. The negotiators need to be prepared on the following important steps to consider while participating in a negotiation −

Step 1: Opening the Negotiation

●      Know your commitments.

●      Discuss the depth of your concern.

●      Ensure that your position appears realistic

●      Keep your opening position flexible.

●      Make larger hand movements; it builds trust.

Step 2: Bargaining                                 

●      Question the others for information.

●      Make other sides justify their positions.

●      Question and challenge their commitment.

●      Highlight your most relevant concerns.

●      Summarize various arguments and seek possible mobility.

Step 3: End of Negotiation

●      Start on low priority items and look for high priority Items.

●      Never settle for just your WATNA.

●      Make concessions wisely.

●      Expect something and get something in return.

●      Make smaller movements while closing.

●      Focus on the benefits to all the parties.

●      Making a final offer carefully.

●      Ensure that all agreements have been documented and attested.