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(Adapted from J. Keith Murnighan, The Dynamics of Bargaining Games, Prentice Hall, 1991)
- "Know thyself." Know what you are willing to do and not do in a negotiation. Know how much value you place on the issues you will be negotiating.
- Do as Well as You can for Yourself. Expect the other person to do the same. If you both get what you want, you have probably done very well. You may actually hinder the effectiveness of the negotiations by being too concerned about the other person. If you know yourself, you will know what to do to get as much as you can of what you want out of the negotiation.
- Get as much information as you can about a negotiation before you begin.
- Stay calm, cool, and collected. Be professional when you negotiate. Respect your own position, the position of the other parties, and the situation. Present yourself in a positive light, and expect respect from the other parties.
- Don't be competitive just for competition's sake -- you shouldn't need to beat the other person to feel that you have done well. Just do as well as you can for yourself. (See Rule #2)
- Differentiate among bargaining situations. Some call for competitive behavior; some work better if you're cooperative. Knowing when you can afford to pursue a cooperative strategy is tremendously important.
- Work within your own position. If you have little or no power, don't act as if you do. If you have power, you don't have to flaunt it to be effective.
- The most important outcome of a negotiation may not be monetary. Realize what is important to you in the situation and do as well as you can. (See Rules #1 and #2)
- Think strategically: What should you do next? What is the other person saying now and what do his or her words and actions suggest, indicate, or imply? Evaluate your performance afterwards. Were your strategies effective? How could you have improved? Give feedback to yourself to help prepare for the next negotiation.
- Once it's over, it's over. Don't worry about outcomes that you didn't achieve. It's enough to think actively while you negotiate and to reflect on the negotiation process afterwards. Don't harp on your mistakes -- Everyone makes them. Experience will make you a better bargainer.
