Preparing for a successful negotiation
From identifying your objectives and priorities to knowing when you will walk away, here are seven steps to prepare for a negotiation.

Step #1: Establish the context
Know what you're going after and why. Stay focused on the objective and don't get drawn into an ego-match.

Step #2: Identify needs and wants
The needs are necessary for success. The wants are improvements that build upon your needs.

Step #3: Understand what will happen if you don't reach an agreement
Brainstorming these outcomes could lead you to solutions that you had not even considered.

Step #4: Establish the importance of the negotiation outcome
Are you negotiating with a critical vendor whose service greatly impacts the outcome of a project? Or are you in a position where the outcome of the negotiation has little strategic impact?

Step #5: Understand the importance of the relationship with the other party
Will you have a long-term relationship with the person that you are negotiating with or is it likely to be a short-term interaction?

Step #6: Determine the Zone of Possible Agreement (ZOPA)
This is the place in which you are in agreement. You should think about this prior to your negotiation and then try to quickly clarify it, early in your meeting.

Step #7: Be clear on where you won't compromise
What are issues that would make you Get Up And Leave (GUAL)? Often it is illegal or unethical behavior or it can be a proposal that is preposterous to your team. Think about what would make you Get Up and Leave before you enter the negotiation.

Don't forget to breathe and hold the caffeine.
Now, all you need to do is relax and breathe, and you're ready to take on your next negotiation challenge. Eat some protein, avoid the caffeine and carbs, and remember using the tips in this article take the time to prepare and think through your negotiation strategy.

Diane Poremsky is the president of CDOLive LLC and a Microsoft Outlook MVP. She's author of Teach Yourself Outlook 2003 in 24 Hours (Sam's, 2003) and coauthor of OneNote 2003 for Windows (Visual QuickStart Guide). For questions or suggestions for future columns, write her at outlook@cdolive.com.