Brad Blaicher is the co-founder and chief operating officer of Onsite Temp Housing Inc. The company provides travel trailers to the insurance, construction, and event industries. As part of his responsibilities, Brad Blaicher has negotiated contracts with the Coachella Festival, including a contract extension.
Negotiation is a discussion between parties with the objective of creating a binding agreement. Over the years techniques have been identified that go a long way toward ensuring successful negotiations.
One technique is making the first offer. Studies have shown that buyers who make the first offer end up with a lower final price, while sellers who make the first offer end up with a higher final price.
Negotiations should be used as an opportunity to build long-term relationships while crafting a good deal. In line with this, a win-win mindset is a good mindset to have while negotiating. Win-win means that a negotiator not only values coming up with a good deal for his or her side of the negotiating table, they also want the other party to have an acceptable final deal. This attitude builds relationships and opens the future to more mutually beneficial ventures.
Another technique involves awareness of emotions. When emotions run high during negotiations, judgments are clouded, tempers are frayed, and there is a high likelihood of an undesirable outcome, including a failure to come to terms. When emotions come into play, the able negotiator will suggest a temporary halt to the proceedings, and only propose a resumption after both parties have had a chance to cool off.
