Negotiation Strategy # 1: Prepare, prepare, prepare. Harvard Program on Negotiation professors, Martin Latz (founder of the Latz Negotiation Institute and coaches all emphasize the importance of preparation. John Wooden, the legendary UCLA basketball coach, said, "Failing to prepare is same as preparing to fail." Preparation is the key to successful negotiations. You must know the issues at … [Read more...]
Welcome to the Gregory Negotiation Report
"The purpose of the Gregory Negotiation Report is to help attorneys become better attorneys and more effective negotiators."
Attorney & Mediator
Negotiation Techniques: The First Offer Dilemma in Negotiations The first offer dilemma in negotiations - should you make the first offer? Few questions related to negotiation techniques have yielded more academic attention and debate among practitioners in negotiation research. One of the most common negotiation techniques: Don't make the first offer, or risk "showing your cards" and … [Read more...]
Most of us know by now that there is normally an anchoring bias associated with the first offer in negotiations. If the first offer for a house or to settle a dispute is $300,000, the first offer of $300,000 becomes an anchor with counter offers being above the offer if you are a seller and below the offer, if you are a buyer. Let us say that you are the seller and after consulting a real estate … [Read more...]
Preparation is essential to a successful negotiation. A critical part of preparation is to determine your alternatives to a negotiated agreement. What is your BATNA, best alternative to a negotiated agreement, or your best day in court? What is your WATNA, worst alternative to a negotiated agreement, or your worst day in court? What is your RATNA, realistic alternative to a negotiated agreement, … [Read more...]
This month's report is an article by Katie Shonk, Program on Negotiation, Harvard Law School. Katie explains that you must learn these skills to succeed. The most effective negotiators both create value and claim value. Analyze and cultivate your BATNA. In both integrative negotiation and adversarial bargaining, your best source of power is your ability and willingness to walk … [Read more...]