It often happens that the talks drag on, the process drags on and there is no chance of closing the contract within a reasonable time.

Specialists from the Harvard Law School Program on Negotiation offer seven tips to help close a deal (the magnificent seven).

• Negotiate the process.

Before discussing specific issues regarding costs, percentages and deadlines, it is good to determine how the negotiations themselves should take place. What will be the rules? How much time do we expect for individual meetings and the entire process? Who organizes the meetings? Who writes and distributes the minutes?

Defining the process itself helps streamline negotiations and bring them to completion.

• Set standards and deadlines.

Going a step further, as part of negotiating the course of the process itself, you can set a schedule. Within the schedule, short-term goals and a realistic deadline. In case of delays, which are almost inevitable, plans and deadlines must be updated on an ongoing basis.

Negotiators sometimes get stressed about the deadline. However, it should be remembered that time pressure also affects the other side. Therefore, fixed deadlines can encourage both concessions and creative thinking on both sides.

• Shutdown movement.

If, when entering into negotiations, we expect that a more attractive offer from the competition could be an obstacle to closing the transaction, we can ask the other party for a limited, exclusive negotiation period (for example, a week).

During this time, our partners agree not to accept offers from competitors. To convince them to accept such exclusivity, you must, of course, offer some unique benefits (they may be non-financial).

• Take a break.

It may seem strange, but in some situations postponing negotiations pays off for both parties. Paradoxically, such a move may contribute to faster completion of the entire process.

A break allows negotiation participants to break away from the tense and stressful atmosphere. It allows you to rest for a while and, most importantly, gain a different perspective.

• Enter a trusted third party.

Sometimes negotiations are artificially prolonged or even stopped because one or both parties are reluctant to present their best offer. In such a situation, it may be suggested to obtain a neutral, trusted third party.

The help of such a person is based on an interview with both parties and finding a zone of possible agreement.

• Change the personal status of your own group.

If negotiations have reached an impasse, replacing a member or members of the group may help. A new element in the negotiation team will bring a fresh perspective and new ideas. Such a “breath of fresh air” usually helps to overcome an impasse.

• Create a conditional contract.

If the parties have problems with closing the deal, it may be suggested to sign a conditional agreement. Such a contract may regulate certain decisions that will occur in the future. It can also guarantee profits in the event of positive changes or penalties for situations when negative events provided for in the contract occur.

Source: 7 Tips for Closing the Deal in Negotiations’ By Katie Shonk – on February 21st, 2019.

Source:https://poradniknegocjatora.pl/wskazowki-jak-zamknac-negoje/

Supported by Norway through Norway Grants 2014-2021, in the frame of the Programme “Social Dialogue – Decent Work”.