Available Time Part 1
Time does not only heal all wounds but is also the mother of (almost) all negotiating power. Is your negotiating partner in a hurry to conclude the negotiation because, for example, he urgently needs money for other projects? Then this is a great advantage for you. For example, you can trade acceleration in closing for a lower price. It is enough if your negotiating partner’s representative has little or no time to negotiate. A desk full of other pressing projects at your negotiating partner’s plays into your hands. How does it look on your side? If you can wait to close the deal, this exacerbates the problems for the one who is pressed for time. The time factor here refers not only to the entire negotiation, but also to the time available for a particular round of negotiations. Those who have an urgent follow-up appointment are at a disadvantage. And again, the more time you have, the more problematic time constraints will become for the other side.
Available or unavailable time not only has a direct effect on negotiating power, but also has an indirect effect on all other levers.
- The basis of information can also usually be improved considerably if time is available.
- Those who want to or must work on the alternatives lever should have a lot of time!
- If the relationship or connection is still weak, time helps to intensify it and strengthen the connection.
- Exerting influence through the environment or forging coalitions require time. Usually, the more time the better.
- For sanctions to work, it usually takes some time.
The development of negotiating power close to „deadlines” is tricky:
The closer a deadline approaches, the greater the negotiating power for the negotiating partner on the other side. When the deadline has passed and the damage, e.g., a penalty, has been incurred, the negotiating power of the other side is abruptly reduced. Deadlines are a classic closing technique in sales to bring negotiations to a conclusion: E.g., offers that are only valid until a certain date.
To successfully manage the issue of time in negotiations, a negotiation calendar has proven its worth: Which important negotiations are coming up for us in the next 24 months. If you want to optimise all the levers of negotiating power in your favour, you should think in terms of a multi-year rhythm. Think of money and other resources that are only budgeted on an annual basis.
With his hourglasses, Jan Myszkowski captures the levers of time very well. His book 50 Shades of Leadership: The Decisive Moments of Genius Leadership is a combination of experience, diverse education and creativity in which he puts current business challenges into a different, inspiring perspective.
