Small Business

Unit 8 Learning Activity - Negotiation Process:

1. Determine what you are negotiating, what your collateral is, or points you have to negotiate

with.

2. Determine what cannot change – legal etc.

3. Before you start to negotiate, know what your bottom line is below which you are not willing to

relinquish.

4. Determine where the other side is coming from.

5. Then start discussing the subject with the other party. When you are ready, propose a

midpoint between where the other party wants to go and what you will ideally accept.

6. Be willing to compromise a bit to get some of what you want while allowing the other party to

save face and also to get some of what they want.

7. If you both have gotten some of what you wanted then it has probably been a successful

negotiation.