OLYMPIC VALLEY, CA—During the GlobeSt. Women of Influence conference, the panelists emphasized the significance of becoming a skilled negotiator capable of adapting versatile techniques to any situation. They highlighted six essential steps applicable to all negotiation scenarios.
First and foremost, thorough research plays a pivotal role in negotiations. Panelists stressed that one can never conduct enough research, as it builds trust and forms a critical foundation for the negotiation process.
The second step involves establishing personal limits and a clear walk-away point. As the workforce landscape evolves, honing these skills has become increasingly vital, panelists said. "Understanding what holds high value for oneself and low value for the other party is crucial," said Kelly Cantley, SVP of construction at Bozzuto Construction.
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Amy Calandrino, CEO of Beyond Commercial, emphasized the importance of knowing who should be present in the negotiation room. Gathering information about their working style and preferences is essential for effective sit-down negotiations, as it empowers the negotiation process with valuable insights.
Creating a meaningful discussion point comes next, according to Cantley. Calandrino added that identifying common ground and articulating one's perspective with well-prepared bullet points is key. "Recognizing the concerns and priorities of the other party is essential to navigate through the negotiation successfully," Calandrino said.
Chintimini Keith, Senior Vice President of Corporate Communications at Bozzuto, highlighted that focusing solely on personal wins and motivations is counterproductive. Instead, understanding the other party's interests lead to a mutually beneficial outcome.
The subsequent step, according to Cantley, involves conducting a dry run to develop a comprehensive tactical plan for the negotiation. "Once prepared, it's time to enter the negotiation room and put the plan into action."
The panelists acknowledged that being in the moment during negotiations can be challenging due to its nuanced nature. They advised adhering to some finite rules, like knowing the walk-away point and not accepting the first offer. "To achieve a favorable outcome, one must adeptly combine these rules and be prepared for various scenarios," panelists said.
Role-playing different scenarios and delving into the specifics of how to apply negotiation rules are essential, according to Keith. Emphasizing the power of silence, she advised resisting the urge to fill pauses and instead master the art of stating the desired points succinctly and allowing space for the other party to respond. "Practice your poker face."
Check back with GlobeSt.com for more from the Women of Influence conference and check out the stories below for what you might have missed.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
