09. Negotiation

Negotiation

Negotiation is all about trying to reach an agreement when there is conflict. As a PM, you will be negotiating everyday, whether it’s about what the product should do, who’s going to be working on the product, or timelines.

Strategies for negotiation:

• BATNA
• Focus on interests
• Make the pie bigger
• Use objective criteria
• Multiple solutions

QUIZ QUESTION::

Match the style of negotiation to the scenario

ANSWER CHOICES:

Working together to find a solution where everyone is happy

Getting exactly what I want

Not comfortable in situations where there’s conflict

Agreeing to something in order to preserve a relationship, even though it’s not in my best interest

Giving up some things in order to get some things in return

Style	Scenario
Competitive
Collaborative
Compromise
Avoidance
Accommodation

SOLUTION:

Style	Scenario
Collaborative	Working together to find a solution where everyone is happy
Competitive	Getting exactly what I want
Avoidance	Not comfortable in situations where there’s conflict
Accommodation	Agreeing to something in order to preserve a relationship, even though it’s not in my best interest
Compromise	Giving up some things in order to get some things in return

Which style of negotiation is best with your team and other teams at your company?

Competitive

Collaborative

Compromise

Avoidance

Accomodation

SOLUTION:

Collaborative

Tips for negotiating:

• Build strong relationships
• Use active listening
• Keep emotions in check
• Work together to find a solution

Further Research

• Negotiation Skills for Product Managers: 5 Things You Need to Know

• 5 Highly Effective Negotiation Tactics Anyone Can Use

• 4 Ways to Practice Your Negotiation Skills