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

How to negotiate in complex, multi-party negotiations?

1. Identify all the participants in the negotiation

This may be stating the obvious but in reality, it is often hard to identify and keep track of all the stakeholders in a negotiation. In a business environment, we should at minimum attempt to identify the following stakeholders:

a. Financial stakeholders

These are the people or groups that will finance, underwrite or lend authorisation to reach an agreement based on the financial terms suggested. It is important to identify all potential individuals that may have an interest in the purely financial dimensions of the negotiation.

b. User/consumer stakeholders

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

c. Technical & legal stakeholders

These are the people or groups that will agree to and approve the technical and contractual dimensions of the negotiations.

d. Guides/Gurus & other Influencers

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

2. Identify the interests of each stakeholder in the negotiation

There are basically two methods to identify an individual or group's interest in a business negotiation. The 1st way is to put yourself in that individual or group's position and to attempt to see things from his/her/their point of view. What supporting data would you require? What precedents would come into play? What assumptions can you make, and validate? The 2nd way is to ask the individual or group a number of questions to help you (and them) to accurately identify their key interests. The best question to ask is "Why?" "Why is this negotiation important to you? Why are you assuming this position? Why are these options being explored?"

3. Create a frame that is appropriate for each stakeholder

Having identified the interests of each participant, you should now create the appropriate frame. Different people take 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 participant or potential stakeholder.

4. Create an effective management structure for the negotiation

If our counter parties experience us to be rational, the odds are significantly increased that they will also respond to us in a rational fashion. We can only present a unified 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 dimensions, 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 stakeholders. A successful way to simplify complex business 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 find that complexity can be managed with the use of an appropriate supporting structure.

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