Salt Harbor Exercise
The Salt Harbor exercise was a real world negotiation exercise that added many factors into the decision making. In this exercise, Lukas and I were partners. Lukas was the buyer and I was the seller. In this negotiation, I had recently purchase some property that I wanted to build into a coffee shop. The neighbor, who is also the buyer, did not want me to build the coffee shop and instead wanted to purchase the property. Lukas stopped me from being able to build the coffee shop through legal channels. I was given the option to take my chances in court or attempt to tell the property to Lukas and open my coffee shop at another location.
This exercise was
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It was important to me to understand my opponent as best possible. In these exercises it was easy to negotiate downwards given the friendly nature of the negations. I wanted to find a win-win situation where we were both able to come out of the negotiation feeling good about it. On the other hand, I think Lukas just wanted to maximize his outcome and had no desire to help me win as well. This isn’t necessarily bad in a situation where we would never likely encounter each other gain. I noticed that he was very determined to get the most out of the negotiation. He made a very low offer which made me think that he had a lower reservation price. In general, the mood of the negotiation was very light hearted and open. We were able to discuss our positions and able to reach an agreement. Lukas and I were able to negotiate an agreement that made me satisfied with the outcome. It was a pleasant negotiation overall. If we were to negotiate again in the future, I would keep the lessons I learned in mind and fight harder to achieve a better than optimal outcome, knowing that Lukas will likely attempt to anchor my offer downwards.
Lessons: The primary lesson that I learned is to watch out for anchors and also to fight harder for my position. This is especially true if a future negotiation is unlikely to happen. I need to try and maximize the negotiation. An anchor is a powerful tool that affects the negotiation. In future, I will consider