I wanted to share the same process that I use in every single case. (Special credit to my mentor Dale for helping me formualte this).
Step 1: The first step always entails figuring out exactly what the other party wants. It is of critical importance that this step comes first in the process.
The important thing is not to "know" what someone wants, but to ask them explicitly.
What someone wants can be both in way of of outcome and process. Some people want a certain type of structure in a deal, regardless of outcome.
If it is early in the process and in the relationship, I highly dissaude people from telling others what they should want.
Step 2: Taking a little time to process what was told in Step 1 and considering how to fit that into the strucure of Step 3.
Step 3: The next step entails figuring out what you want. This applies to every context. For example, it could be in the context of work environment, pay, future opportunities, etc.
Step 4: The next step entails telling the other party what you want in the context of what they want. The important distinction here is that you have to find a way to have your system fit into theirs. The biggest mistake here is that people fail to take into consideration the other party and simply vocalize their own desires. The problem with this is that if the other person doesn't see a way that your process can fit then there can be no negotiated agreement.
Step 5: Negotiating the details. This is a very important step. However, it is important to note that this step is purposefully completed in the final stage. Oftentimes, people want to negotiate before they know what the other party wants. This is the most common rookie mistake.
Conclusion
These steps work. This framework works. I would not recommend tweaking it too much until you have tried it once or twice.
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