Negotiate for the Win-Win: Advice from a Fortune 50 Senior Exec

Do you dread formal negotiations?

Many of us do, but a great negotiation is a phenomenal boon. It can be hard work, yet the reward makes the effort worthwhile. And here’s a little secret:

The best negotiation rewards ALL the parties at the table.

That’s what this week’s podcast guest, Greg Moran, learned from his years negotiating as a senior executive for Ford, Chase, and other corporations. Forget about those cut-throat style negotiators who make the headlines; their battleground attitudes yield short-lived, often pyrrhic results. For long-term benefits, follow these guidelines instead.

1. Forego the Fear. Strong-arm tactics, bullying, pressure, and other tactics to induce fear in the other party limit your options and overall benefits. Instead of thinking clearly, Moran says, “They go into survival mode.” In that state, he notes, “Fear closes us off to the possibilities.” You won’t get the best deal possible because no one can fully see what’s possible.

2. Discipline yourself for a better mentality. It’s easy to view negotiation as conflict, so entering it with an aggressive, hunter-prey, winner-loser mindset. The real skill is maintaining a neutral, logical outlook: how would Spock negotiate? But the ultimate mindset, Moran found, is win-win. It can be the hardest to hold, in no small part because we’ve learned to treat business like a competitive sport. But you’re not going for the win; you’re going for the win-win. You might think of it as an abundance mindset, but the most enduring results happen when BOTH sides achieve their goals for the negotiation.

3. Do your homework. As the Scout motto says, “Be prepared.” Start with your own team before you think about the other party. What does success look like for you? Clearly define your goals and desired outcomes, both short and long-term. Once you know in detail what you want, find out what success looks like for the other side. What’s most important to them?

4. Look for the common ground. Often, the same things are important to both sides. Negotiating becomes much easier when goals are similar—it then becomes a simple process of hashing out how to reach those goals. If the goals aren’t similar, dig deep. Find out WHY they have a particular goal; you may be able to answer that with a different, even better, end result for them. There is always some kind of common ground from which you can build together.

These tips all stem from common sense, but so many negotiations bog down from a stereotypical combative, scarcity mindset in the dominant party. The best deals arise when you understand what’s important to all parties. For the optimal outcome, look across the table and simply ask: “How do we both succeed?”

This article was adapted by Dan Mushalko from our podcast episode The Three Steps for Successful Negotiation from a Former Ford Exec.

Thank you for reading our newsletter, where we bring you thought leaders and innovative ideas on leadership topics each week.

We strive to elevate the quality of leadership worldwide. Are you ready? If you are looking for help developing your leaders, explore our services.