The Negotiation Skills Company -- Newsletter May 2001
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The occasional newsletter of
The Negotiation Skills Company, Inc. (TNSC)
Number 16, May 2001
READ THE SMALL PRINT by Steven P. Cohen
Our website's advice section has grown to the
equivalent of over two hundred pages as people
from around the world have asked a tremendous
variety of questions. Nonetheless one issue keeps
arising whether the questions relate to problems
people are having with their work or as they buy
things as important as houses. It appears that
all too often people don't pay attention to
details in the contracts that come to embody the
agreements reached as a consequence of
negotiation.
One associate of mine got me very concerned when,
during a business meeting, he suggested I put my
pad of paper away. "Steve, you won't need to take
notes of our conversation," he said. He was doing
me a favor; my handwriting is bad enough that I
probably would never have been able to decipher
many of the notes I might have taken. As a
consequence I listened very carefully to every
word spoken during our meeting.
If you're in a negotiation, it is a cardinal rule
to listen actively. Pay attention to what is said
- and to what is not said. When issues occur to
you that another party may be failing to address,
ask questions. Don't be afraid to ask questions
until you are genuinely sure that you have
understood what the other party really means. The
best way to be sure you have understood is to ask
them, "Am I correct in my understanding that you
said 'xyz'?" There is no such thing as a stupid
question. It is crucial, however, to pay close
attention to the answers.
What does this have to do with paying attention to
the small print? In the negotiation process it is
crucial to pay constant attention to how the
ultimate agreement will be fulfilled by the
parties once the hands are shaken or the contract
has been signed. Paying attention to the small
details while negotiating protects you from
surprises once the agreement has been reached and
it is time for the parties to deliver on their
promises.
The small print is what we call those seemingly
inconsequential details folks throw into
agreements that can turn into monsters later on.
If we are dealing with people we don't know very
well or with people who are more sophisticated
than we are in that particular kind of business,
it is even more important to question details. An
even wiser move is to try to learn about 'their'
business, reputation, and follow-through by doing
research with other people with whom they have
reached similar deals.
Asking for references helps somewhat; but we have
to expect that no one in their right mind is going
to offer a dissatisfied client as a reference.
One needs to look for additional sources of
information. If the deal under consideration is
with a building contractor, it makes sense to talk
with the subcontractors on the job; find out
whether the contractor is cutting corners or is
using poor quality materials. One can also check
bank references or with trade associations to
learn about a party's reputation.
It is not realistic to think we can anticipate all
the possible problems that may arise during the
life of an agreement. Thus it is important to
negotiate fairly and with civility so that if
questions need to be raised during the life of the
contract, the relationship among the parties won't
stand in the way of dealing with what comes up
later on.
TNSC NEWS
Our website has been getting 'hits' at the rate of
about one million per year. People from all over
the world have been turning to
www.negotiationskills.com for information about
our programs and staff as well as advice and ideas
about negotiation. It also appears that some
people think that we offer advice on just about
any issue; several times we have had to suggest
that people should address their questions to more
qualified health, legal or other professionals
rather than a group that specializes in
negotiation. Some of the questions to which we are
uncomfortable responding have dealt with mental
health issues, assistance writing student papers,
and specific financial advice.
We hope you will visit the site often to review
new items in the advice section, meet our staff,
and review new programs and products we offer.
QUOTATION OF THE WEEK
"A half truth is a whole lie." (from The Big
Little Book of Jewish Wit and Wisdom)
Enjoy your negotiations,
Steve
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