The key negotiation skill required to unlock the most value from complex business negotiation environments is to identify and understand the interests of all the stakeholders affected by or taking part in the negotiation. In some cases, it is simple to understand both the positions & interests of players in the negotiation. In most cases, however, it is not only tricky to identify the interests of participants; it is also difficult to identify all the stakeholders.

How to negotiate in complex, multi-party negotiations?

1. Identify all the participants in the negotiation

This may seem obvious but in reality, it is often hard to identify and track all the stakeholders in a negotiation. In a business environment, we should at least try to identify the following stakeholders:

a. Financial stakeholders

These are the people or groups that will finance, underwrite or give permission to reach an agreement based on the financial terms suggested. It is key to identify all potential parties that may have an interest in the financial dimensions of the negotiation.

b. User/consumer stakeholders

These are the individuals or groups that will execute and support the outcome of the agreement that is reached. These are the parties that will live and work with the outcome of the negotiations on a day to day basis.

c. Technical & legal stakeholders

These are the parties or groups that will sign off and approve the technical and contractual aspects of the negotiations.

d. Guides/Gurus & other Influencers

These are the parties or groups that hold important influence over the pivotal decision makers involved in the negotiation.

2. Identify the interests of each participant in the negotiation

There are primarily two methods to identify an individual or group's interest in a negotiation. The first way is to put yourself in that individual or group's shoes and to try and see things from his/her/their point of view. What supporting data would you need? What precedents would come into play? What assumptions can you make, and validate? The 2nd way is to ask the individual or group a series of questions to help you (and them) to accurately identify their key interests. The most useful question to ask is "Why?" "Why is this negotiation important to you? Why are you assuming this position? Why is this option being explored?"

3. Create a frame that is appropriate for each stakeholder

Having identified the interests of each participant, you should now position the appropriate frame. Different people reach decisions for different reasons. It is not useful to highlight the same points to support decision making to all participants. You should focus on communicating the most useful frame to each stakeholder or potential stakeholder.

4. Create an effective management structure for the negotiation

If our counter parties think of us as rational, the odds are greatly increased that they will also respond to us in a rational fashion. We can only present a common and rational 'front' if we have thought about the roles & responsibilities within our negotiation team. Allocate the responsibility in the team between those that will manage the Relationship aspects, and those that will manage or be involved in the Task related aspects.

Negotiation skills training teaches us to create an agenda that addresses the interests of all potential participants. A successful way to simplify complex commercial negotiations is to add structure. We need to focus on the process aspects to ensure that we make progress at every level of the negotiation. You will discover that complexity can be managed with the use of an appropriate supporting structure.

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