Essay Post Negotiation Analysis

780 Words Apr 7th, 2015 4 Pages
Post Negotiation Analysis

I started the negotiation with a cordial conversation that I am interested in purchasing the restaurant, the conversation continued but I did not feel that I was gaining any trust or the owner was opening up to me. Noticing that I was still trying to figure out the actual motif and details for this sale, the owner made the first offer of 300k and starting justifying my BATNA of building new restaurant. I brushed off the first offer since my reservation price was 160k and we were no way closer to ZOPA in price. I took over the negotiation and anchored with my of 150k offer. Being confident and showed honesty with my numbers (40% of her salary, 60% overhead and plus another 50% for all the hard work she had put
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Portraying the trust that I am here not to take advantage of the owner’s situation gave me that deal. I learned that to gain other parties trust you have to first listen and trust what they say. Genuinely portray that you understand and begin to open yourself up to gain their trust. Moreover, I have to master the art of questioning to be a better communicator, just probing hard does not work.
I find that others behave similar to me, they have a perceived frame about you and they place you in this box. You or not they need to work hard to get out the box, once you do that or attempt to get out the box the rest of trust building process seems to be easy. I found out later that the owner did have a perceived frame put around me that I am the VP and will take any and all advantage whenever I can, that is the reason she did not open up. So being honest and opening up myself I can learn and deal with other parties’ behavior and thoughts.
In the case of bargaining, it was quite easy since I have clearly defined what I wanted to get out of this deal and what the concessions I needed to give are. Giving out early concession did not only move the negotiation forward but I did gain trust in showing what matters for the owner. Conflict on the other hand was hard because I had defined interest to achieve it. I learned that I need to