Negotiation Preparation Sheet

There are two major steps in preparing for a negotiation: preparing your own goals, and
preparing for the other party to the negotiation. Walking in a negotiating room with
knowledge of both these categories will increase your confidence, decrease your fear and
make the whole experience much more pleasant for all involved.

We’ll start with preparing for the other party. Fill out the following information about
the person you plan to negotiate with:

Name:__________________________________________________________________
Company:_______________________________________________________________

What is your relationship to this negotiator?____________________________________

How long with the organization?_____________________________________________
Future plans with the company?______________________________________________
If planning to leave, when?_______and to what sort of situation?___________________
How qualified is this person for this negotiation?________________________________
What company policies exist with regard to this type of negotiation?
________________________________________________________________________
How is the negotiator compensated? Is there an incentive program if money is saved on
this negotiation?__________________________________________________________
Is the compensation based on commission or straight salary?_______________________
What time constraints exist for the other side?___________________________________
What other pressures originate from the negotiator’s place of work?
________________________________________________________________________
Who else must this person consult before a final decision can be rendered?
________________________________________________________________________
Is there a cut-off to the negotiator’s authority? That is, is there a point under which the
negotiator is authorized to close the deal and over which higher authority is needed?
________________________________________________________________________
What is that point?________________________________________________________
How is the negotiator for the other side perceived by superiors?
________________________________________________________________________
What is the negotiator’s attitude toward you?___________________________________
Your company? ____________________________________________________
Your subject? ______________________________________________________
Who has made similar deals with this person in the past?__________________________
How can you contact that person? ____________________________________________
What does that individual have to say about this negotiator? _______________________
________________________________________________________________________
What is your overall assessment of this negotiator? ______________________________
________________________________________________________________________
Next, determine what you are looking for in this specific negotiation. For this step, use
my “Wish, Want, Walk” method (further explained in my book, Fearless Negotiating).
Fill out the table below with the issues that are important to you in the columns. Start
with the most important issue on the left-hand column and work your way to the right
(don’t worry if you have more or less categories than columns given – each negotiation
will be different). Then determine your Wish, your Want, and your Walk for each item.
Your Wish is the outcome you really want on that issue – your highest goal. Your Want
is where you think the negotiation will likely come out on that particular issue according
to market rates and/or previous similar negotiations. Your Walk is the point where the
deal is no longer a better option than no deal at all – the point at which you should walk
away from the deal.

Issue 1: Issue 2: Issue 3: Issue 4:

Wish
Want
Walk

Stretch for your Wish, and don’t be afraid to walk away from the deal if the other party
won’t offer terms that are beneficial to you or your company.

Now that you have prepared for the other party and prepared your own goals, you’re
ready to negotiate! Let your knowledge about the other party and your own goals and
limits guide you through the process. You will find that negotiating is nothing to fear
when you have clearly defined what you want and what you are willing to accept from
the other party before even entering the room. Good luck!