Negotiate Like a CEO 
Master the Art of Negotiation with Proven Methods and Frameworks 

Negotiation is a vital skill in business and life. Whether you're finalizing a deal, resolving conflicts, or setting terms, effective negotiation ensures mutual success. This guide outlines key strategies, frameworks, and practical tips to help you negotiate like a CEO.

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1. The 4 Phases of Negotiation 
(h/t Roy Lewicki) 

Breaking negotiations into structured phases improves clarity and outcomes. 

The Four Phases: 

• • Preparation: Research thoroughly, set clear goals, and define your BATNA (Best Alternative to a Negotiated Agreement).
  • Exchange Information: Share your needs and understand the other party's priorities.
  • Bargaining: Propose solutions, counteroffers, and negotiate terms.
  • Commitment: Finalize the agreement and define next steps clearly.

 

Why It Matters: Structure provides focus and ensures no critical step is overlooked. 

Example in Practice: 
A startup negotiates funding with investors: 
- Preparation: The founders research the investor's portfolio and define the minimum funding amount they need. 
- Exchange Information: They outline their growth potential and listen to the investor's expectations. 
- Bargaining: Counteroffers are made to align valuations. 
- Commitment: The final deal is signed with clear milestones. 

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2. The BATNA Strategy 
(h/t Roger Fisher and William Ury) 

What is BATNA? 
BATNA stands for the "Best Alternative to a Negotiated Agreement." It represents your fallback plan if the negotiation fails. 

How to Use BATNA: 

• • Identify your best alternative if the negotiation fails.
  • Use your BATNA to establish your walkaway point.
  • Assess the other party's potential BATNA to gauge their flexibility.

 

Why It Matters: 
Knowing your BATNA ensures you don't settle for less than you deserve and strengthens your position. 

Example in Practice: 
A freelancer negotiating a contract with a client has a competing offer from another client. Knowing their BATNA, they set clear minimum rates and are prepared to walk away if the client doesn't meet their expectations. 

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3. The Negotiation Matrix 
(h/t Lewicki and Hiam) 

The Negotiation Matrix helps you adapt your approach based on the importance of outcomes and relationships. 

Quadrants of the Matrix: 

• • Avoiding: Use when stakes are low or deferring is strategic.
  • Accommodating: Prioritize relationships when collaboration matters more than the outcome.
  • Compromising: Seek a middle ground to balance relationships and results.
  • Collaborating: Aim for win-win solutions to maximize trust and value.
  • Competing: Prioritize results when stakes are high.

 

Why It Matters: 
Different scenarios require different approaches. The matrix provides a framework to adjust strategies