How to Tie Up Loose Ends After Negotiating

The negotiation is over and you can finally breathe a sigh of relief. While you might be done with the hard part, it’s not quite time to put your feet up and relax. The truth is, there is still work to be done after a negotiation. As it turns out, negotiating is a process and the real work begins after you shake hands and part ways. After the negotiation is over, it’s important to clarify things in writing and confirm your new timetable as soon as possible. You also want to check in with your counterpart to ensure that everyone is on the same page. If you want to ensure that your negotiation is successful from beginning to end, be sure and tie up your loose ends after an agreement is reached. 


Put Everything in Writing

If you and your counterpart reached an agreement, you will need to write down the details of the agreement. Be as specific as possible about each detail so you can be sure both parties are fully aware of what they are agreeing upon. Once you have outlined your agreement details, you will need to submit a copy of this agreement to your counterpart for review. This is important because it alleviates any misunderstandings and ensures that both parties are on the same page. You never want to leave gray areas and you certainly don’t want any surprises. A formal written agreement also increases the chances that both parties will follow through with their promises.


Clear Up Any Confusion

Once you have submitted a formal agreement it is advisable to answer and/or ask any questions that you or your counterpart might have. You want to be sure both parties feel like they have a clear understanding of the agreement. Be sure to go over any concessions that were agreed upon during the negotiation so there is no confusion about expectations. 


Revisit the Negotiation if Needed

In some instances an agreement may not have been reached. In this case, you would want to check back with the other party to revisit the negotiation. Perhaps the timing is now right to move forward with an agreement. In any case, keeping in touch allows you to maintain the relationship in case a new opportunity arises. 


Check In Regularly

It is always a good idea to check in every now and then to see if things are going well. This is an integral part of building a long term relationship. If possible, you might even consider holding regular meetings to discuss how things are going. Perhaps things need to be changed or modified in order to achieve the best results. Make sure your counterpart knows that you are committed to doing your part, and in turn, they should reciprocate with the same courtesy.