A study conducted amongst students in the 1979 Harvard MBA Program makes for interesting reading. In that year the students were all asked the following question...."Have you set clear, written goals for your future and made plans to accomplish them"?

Only 3 percent of the graduates had written goals and plans, 13 percent had goals but they were not in writing and a whopping 84% had no specific goals at all. Ten years later the members of the class were interviewed again and the findings, whilst somewhat predictable, were nonetheless quite astonishing. The 13% of the class who had goals were earning, on average, twice as much as the 84% who had no goals at all. And what about the 3% who had clear, written goals? Well, they were earning, on average, ten times as much as the other 97%!

Although the context is slightly different, you should not dismiss the power of clearly defining your goals and objectives. In commercial negotiations, not clearly defining your goals and objectives will inevitably lead to you reaping less value and being more frustrated with your results.

One of the most common mistakes made by business people is that they get into negotiations not knowing what they really want. And then because they don't know what they want they keep changing their position - everything seems to be a response to the moment.

It's impossible to negotiate effectively if you don't know what your precise objectives are. If you can't tell where you're going to, how will you know if you've arrived? Also, without clear objectives, and the discipline to stick to them, it's too easy for you to bend under pressure - especially in the final moments of your negotiation.

It's during these final moments, weakened by fatigue and often feeling that you've invested so much in the process and 'are so close to a deal' that negotiators who don't possess a clear view of their bottom line give too much away. Instead of encouraging the other side to seek additional concessions from you, you want to focus the negotiation on your real interests and be very clear that your 'must have' and 'ideal' objectives are not continuously moving targets.

If you want to ensure that you are properly prepared for your negotiations, why not download our free negotiation preparation check list and completion guide below to help you get the most from your upcoming negotiations?

Click On The Check List Image To Download A Copy Of The BNS Negotiation Preparation Check List

Including Comprehensive Completion Guide & Sample Completed Check List