Medium or large? Stranger Things or The Office? Standard or premium?
Although we may not see it, we’re negotiating all the time in life. Whether it be with other people or internally, momentous and minuscule negotiations happen every day.
When it comes to the big negotiations of the sports world, Molly Fletcher is a champion. A titan of sports marketing, Molly is also CEO of The Molly Fletcher Company and Game Changing Negotiation Training, an author, and a renowned keynote speaker.
We knew she’d be the perfect person to offer negotiation tips and tricks.
Here’s what we’re unpacking today:
- Different styles of negotiators
- Two tools for negotiating
- Two challenges Molly suggests to focus on
This post is based on a podcast with Molly Fletcher. If you’d like to listen to the full episode, you can check it out here and below.
Negotiation styles
Through her experiences in sports negotiations, Molly has concluded that oftentimes, people aren’t difficult, they’re just different. She’s found that most people fall into one of four categories of negotiation styles:
- Logistical
- Strategic
- Relational
- Financial
By understanding your negotiation style and that of the other person, you’ll be able to approach the negotiation with heightened awareness. You can respond more readily using the language the other person prefers. At the same time, you can stay authentic to yourself by having a greater knowledge of your style.
Tools for negotiating
Molly points out two proven tools to use for effective negotiation.
1) EWOC analysis
The EWOC analysis is a tool for negotiation preparation. EWOC is an acronym standing for:
- Everything – Identify everything that can be negotiated.
- Want – Be crystal clear about what you want from the negotiation.
- Options – Offer flexibility and multiple options.
- Concede – Keep in mind what you’re willing to concede.
Using the EWOC Analysis should equip you with everything necessary for any upcoming negotiation.
2) The pause
The pause within a negotiation can be tricky to master. Molly emphasizes that a pause in dialogue can be even more powerful than words. She suggests building a strong enough relationship with the individual you’re negotiating with to feel comfortable using silence to your advantage.
Combined with your understanding of negotiation styles, these tools will help you drive more influential discussions.
Challenges for deal-makers
Molly left us with two ideas to help improve our negotiating skills.
- Recognize that negotiations are all around us. You have more chances to practice negotiating than you may realize. Keep your eyes open for organic opportunities to sharpen your negotiation skills.
- Practice asking for what you want in a way that drives connection. We are relational beings, no matter what your negotiation style is. Pay attention to your confidence and situational awareness when you’re asking for something. You can use these characteristics to build a deeper connection with the other person.
Negotiations are everywhere
Having a grasp on negotiation styles and powerful tools will help you yield more successful conversations. Keep in mind that negotiations pop up everywhere in life; don’t miss your chance to practice.
