Data Can Impact a Negotiation

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Data is any information available about a given topic, person, commodity or situation. Having the discipline to gather, assess and use this data makes the difference between negotiating and begging. Preparedness is the key to a successful negotiation.

Typically information is readily available if you know how to seek it out.

If the information you are seeking is fact-based and in the public domain, the information may be available at the library, newspaper archives, from a title company, or off the Internet. If it concerns a payment that is in question, records from your accounting group or a copy of your personal check from your bank may be what you need. It may be troublesome to get the hard data, but it is difficult to refute and worth the extra effort.

Knowing the facts that help you is a good thing. Knowing those that hurt your cause is much better. When you conduct your fact-based research, don't narrow your search to the specific item. Be on the alert for related information that may be used against you or undermine your position. The search for data should be broad-based and inclusive to allow you to properly prepare for the moment of confrontation.

If your research is about the personality of the person you are confronting, seek the counsel of others who know the person, study previous negotiation results with the person or his company, casually discuss the person with his or her secretary, or read up on the person's activities. With a little sleuthing, there are usually some valuable insights available. As with data-based research, cast a wide net and collect as much information about the other person's interests, nature, and reputation as possible. You can use this collective pool of data to talk about his hobbies and interests to build a relationship or use it to be on the alert for his known stylistic tactics.

Take the time to fully prepare. If you do this, often as not you will be better prepared than the other person. As a result, you may be able to control the conversation and impact the outcome of the negotiation.