Pre-Negotiation Research

Thorough preparation and research are critical foundations for successful negotiations. This checklist will help you systematically gather and analyze key information about your counterpart, market context, and strategic opportunities before entering negotiations.

1.    Company and Market Analysis

• Research industry benchmarks and trends
  Analyze current market conditions, pricing norms, and industry standards to establish realistic baselines and identify market-driven opportunities or constraints.

• Review company financial health
  Examine annual reports, earnings calls, and investor presentations to understand the company’s financial position, priorities, and potential pressure points.
  • Map competitive landscape
    Identify key competitors, market positioning, and alternative options available to your counterpart to understand their BATNA and competitive context.
  • Analyze regulatory environment
    Review relevant regulations, compliance requirements, and legal constraints that might impact the negotiation or future partnership.

2.    Decision Maker and Stakeholder Intelligence

• Profile key decision makers
  Research professional backgrounds, previous roles, public statements, and conference presentations to understand their perspective and priorities.
  • Identify informal influencers
    Map both formal authority and informal influence networks within the organization to understand who shapes decisions behind the scenes.
  • Research organizational culture
    Understand the company’s decision-making style, risk tolerance, and cultural approaches to negotiation and partnership.

3.    Strategic Opportunity Assessment

• Analyze technology and innovation roadmap
  Review patent filings, R&D investments, and public statements about future direction to identify potential collaboration opportunities.
  • Evaluate supply chain relationships
    Map multi-tier relationships and dependencies to understand operational constraints and partnership possibilities.
  • Identify market expansion plans
    Research geographic expansion plans, new market entries, or product line extensions that could create mutual opportunities.

4.    Partnership Potential Analysis

• Document previous partnerships
  Research past collaboration history, joint ventures, and strategic alliances to understand their partnership approach.
  • Assess innovation potential
    Identify areas where combined capabilities could create new value through joint development or shared resources.
  • Evaluate operational synergies
    Look for opportunities to optimize processes, share resources, or create economies of scale through collaboration.

5.    Risk Assessment

• Identify potential conflicts
  Research pending litigation, competitive tensions, or historical conflicts that could impact negotiations.
  • Review public reputation
    Analyze media coverage, customer feedback, and industry reputation to understand potential reputational risks or benefits.
  • Assess financial risks
    Evaluate credit ratings, payment history, and financial stability indicators to understand potential partnership risks.

6.    Cultural and Communication Context

• Research cultural preferences
  Understand cultural approaches to negotiation, communication styles, and business practices, especially for international negotiations.
  • Review communication history
    Analyze past interactions, public statements, and communication patterns to inform your approach to discussions.
  • Document language considerations
    Identify any language barriers, translation needs, or cultural communication nuances that need to be addressed.

Remember to update this checklist regularly with new findings and insights throughout the pre-negotiation phase.