Time As A Negotiation Tool

There are three ways to make time work for you in negotiation.

1. Take your time and stay in the conversation.
2. Instead of making a single session do all the work, arrange a series of mini- conversations.
3. Impose a deadline for resolving issues before too much debate has occurred so that everyone can feel satisfied.

It takes timefor people to move away from an initial lukewarm response or a preliminary no to considering other options. Unfortunately, many of us go into negotiations wanting to get in and out as soon as possible. The rationale behind the quick hit and run negotiation approach is: let's get it over with, negotiating is beneath me, I’ll over pay to save time, or it's more important to be liked than to get a good deal.

Take the time to find out what each others' interests are and explore multiple options so that you can find the best solutions. Many of our goals are more complex than meets the eye. Studies show that quick settlement rates result in extreme outcomes of unstable highs or lows instead of a more satisfactory midrange. Quick negotiations also tend to favor the more skilled negotiator and can be exploitive to the other.

Arranging a series of mini-conversations is often more advantageous over trying to accomplish everything in one session. Under pressure, people often adopt either a defensive or offensive approach to the conversation. This can turn negotiations can into crisis management and lower gains for everyone.

Engaging in multiple conversations relieves the stress of chewing off too much. Instead, you can break your main goal into sub goals. Achieving smaller goals that are part of the larger goals builds up momentum for success.

Finally, if you don’t have a deadline for problem solving, establish one, even if it is arbitrary. It is well known that agreements usually occur at the eleventh hour, just before an established deadline expires. Deadlines create a needed tension to produce outcomes. Caution: When problem solving goes on too long, you can feel dissatisfied with the outcome, even if you got what you wanted.

Clearly, time is an effective negotiation tool. Take the time to explore each other's needs. Time allows us to modify initial responses. Allowing for a series of smaller negotiations can help us break down a problem into smaller parts. Finally, deadlines without rushing to premature conclusions help solve problems in a timely manner; then you are more likely to feel satisfied with the process.