The art of negotiation: How to get what you want in business

Ihor Bauman was hosted on the PATCA podcast, where he spoke about how to get what you want in business. He shared strategies for improving consulting skills that apply to consultants, coaches, and independent professionals. His insights are founded on leveraging expertise, improving client communication, and employing innovative problem-solving techniques.

The following are the main takeaways from this podcast:

Historical Insight into Negotiations

Mr. Bauman highlights three major historical events that demonstrate the intricacies and potential outcomes of negotiations:

• Camp David Accord (1978): Resulted in two landmark peace agreements.

• Cuban Missile Crisis: Emphasized clear communication and understanding of the interests of all parties.

• Dayton Agreement: Led to the establishment of Bosnia and Herzegovina.

Essence of Negotiations: The primary goal of any negotiation is a beneficial outcome for all parties, emphasizing the 'win-win' approach. Investing in current relationships is more cost-effective than seeking new ones.

Top tips for successful negotiations

• Preparation is Key: Thorough research and clear objectives are essential. This includes understanding your position, needs, market standards and identifying when to retreat from a deal.

• Managing Emotions: Emotions have a significant influence on negotiations. Recognizing your feelings and the sentiments of the other party can direct the negotiation favorably.

• Prioritizing your negotiation points: Focus on primary objectives first, then move to secondary priorities.

• Transparency and Integrity: Always be sincere. Avoid discussing matters you're not genuine about.

• Anchoring: The initial offer can set the tone for the negotiation. This anchor can influence subsequent offers.

• Cultural Considerations: Understand the decision-making processes unique to the culture of your potential partner. Research how decisions are made based on cultural backgrounds.

In essence, the podcast emphasizes the importance of preparation, understanding, and strategy in enhancing one's consulting capabilities. Mr. Bauman offers a comprehensive guide based on historical examples and personal experiences to assist professionals in navigating the complexities of negotiation and achieving a win-win outcome.

Watch the full podcast here