Hey there! Are you running a small business and dreading that next big negotiation? Are you lying awake at night, sweating about underselling your goods or signing up for something you cannot deliver? Or maybe you are just playing terrified of losing the deal and winding up in the financial doghouse. Well, you are in good company because I know that feeling quite well. In today’s video, I am going to show you how to use Chat CPT to gear up for any negotiation without losing your mind.
Having a strong framework for how to negotiate with clients, vendors, and staff can feel like a superpower. Stick around, and I will show you how to turn ChatGPT into an expert negotiation coach for these sticky situations. By the end of this short video, you will have a completely custom negotiation strategy doc that will have you walking into your next negotiation as cool as iced tea filled with ice cubes.
It all starts with preparation and planning. Here is the first prompt you can use to have a little back and forth conversation with ChatGPT in order to get a summary of the information about your negotiation into its working memory. This can also help you clarify your thoughts as well.
Next, it is on to the negotiation objectives. With this prompt, you can work with ChatGPT to clearly define the objectives you want to achieve from the negotiation. This will probably include price and specific terms you want to agree on, but it can also include creative objectives such as testimonials or a bonus structure for successful engagements.
Now we are moving on to the BATNA or the Best Alternative to a Negotiated Agreement. Use this prompt to understand your fallback plan if the negotiation fails. Your BATNA gives you power in a negotiation because you know exactly what your best course of action is should the negotiation fail. But caution, some negotiators consider this fallback as preparing for failure, so set it aside as a worst-case scenario only.
Next, it is time to decide your walk-away point. With this prompt, you can decide the least favorable point at which you are willing to accept a deal. Clearly understanding your walk-away point will protect you from making emotional decisions in the moment that are not in your best interest. It is crucial not to reveal this to the other party.
The next component of your plan is perhaps the most powerful: counter arguments and rebuttals. Use this prompt to anticipate the arguments the other party may have so you can prepare appropriate responses.
The research and information part of the process can help you uncover important missing pieces. Use this prompt to help you brainstorm on any additional information about the market, the other party, or any other aspect relevant to the negotiation. The more information you have, the better prepared you are.
Creating your concession strategy, this prompt will help you outline what you are willing to give up and when you might offer these concessions during the negotiation process. Ideally, you have built some wiggle room into your communications, and if not, make sure to do so the next time you begin a similar discussion.
Finally, comes the communication strategy. With this prompt, you can decide how you will present your case, what kind of language will help you close the deal, and how to respond to various reactions from the other side. Make sure ChatGPT understands the nuances of the other party.
Now it is time to bring it all together and create the negotiation strategy plan. Use this prompt to compile your conversation with ChatGPT into a concise format. Once you have this, you can drop it into a Google doc and circulate it with your team for additional thoughts or save it somewhere handy for when the negotiation actually takes place.
And there you have it, folks! Now, if you found this useful, head on over to my Patreon, where you can get a cheat sheet version of this with tons more on the subject, resources like risk management prompts, strategies for dealing with power imbalances, knowing when to use silence, and lots of other helpful stuff. You can get access to that and dozens of other cheat sheets just like it for less than the price of a fast food meal. And for those of you who want to take it a step further, I have got some coaching options too. So if you are hungry to take your AI skills to the next level, just head on over there and check that out.
But before we wrap up, I want to say a massive thanks for tuning in. Your support means a lot. If you enjoyed this video, go ahead and smash that like button, hit subscribe, and drop a comment below. I love to hear your thoughts. And until next time, folks, stay cool and negotiate smart!
