By James A. Baker
Founder and Chairman
Baker Communications
Negotiations are often a bit like the Energizer Bunny - they just keep going! and going! and going. Sometimes, with all the haggling and swapping concessions and bargaining and stonewalling and nibbling, it’s hard to figure out when and how to wrap things up and call it a done deal.
When all the real issues have been resolved and the minor concessions discussed to death, it may be obvious to one party that the negotiation is over, but not to the other. Perhaps one party is less experienced, or more stubborn, or doesn’t understand principled negotiations and is trying to manipulate or bulldoze their way to a better deal.
The goal of win-win negotiations is for both parties to walk away satisfied, so it is probably in your best interests to help the other party feel comfortable with the closing process.
5 Ways to Close a Negotiation
Even if you feel that it’s high time the negotiation wound down, you still have a couple of hurdles to face - getting the other side to agree that you are done, and drawing to a close that leaves both of you feeling satisfied.
Here are five approaches to help you tackle this potentially touchy transition period.
1. Drop a Hint
The other side may be reluctant to close because they just aren’t sure if it’s the right time. They might be able to get more out of you, or maybe there’s an issue they aren’t satisfied with yet. Let them know that you think you have reached agreement on everything, and tell them you believe the negotiations are finished. If you act like things are settled, they will probably start to move toward a close as well - even if that means bringing up a last-second nibble.
2. Shut It Down
If the other party keeps trying to drag things out, simply don’t agree to discuss any more concessions. Politely, but firmly, refuse to give anything else up, and make it clear that you aren’t interested. Once the other side realizes that they have gotten all the concessions they are going to get and won’t be getting anything else out of you, they will understand that the negotiation is effectively over.
3. Make it Final
Bring up some minor detail that needs to be agreed upon, like a delivery time, and say: “Let’s just settle this final issue.” This communicates to the other side that as far as you’re concerned, this is the last piece of business to take care of. Once it’s settled, you should be able to move to a close.
4. Find the Missing Piece
Ask the other party if everything is settled and whether you are finished. If they don’t agree that everything is settled, find out what the holdup is. Then you know exactly what you must resolve in order to conclude the negotiation. Address the issue they are concerned about, and then check again to see if they are now satisfied and ready to close.
5. Give Them a Choice
Give the other party two alternatives to choose from. If you have reached agreement on all but one item, or have established two good potential scenarios, lay out their options and let them choose one. Once they have committed to their choice, the negotiation is done.
The Neverending Negotiation
Nobody wants to get stuck in an Energizer Bunny negotiation, but when conducting principled negotiations, your goal is always to ensure that both parties walk away feeling satisfied with the way the negotiation turned out. This means that you must gain the other party’s agreement on when the negotiation is over, whether by making it clear that you are done, or asking what final issues the other party needs to see resolved. Otherwise you could both be stuck there forever!
Baker Communications offers leading edge Negotiation Training solutions that will help you address the goals and achieve the solutions addressed in this article. For more information about how your organization can achieve immediate and lasting behavior change that leads to bigger wins during negotiations in any setting, click here.
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