Always look for a win-win solution
As Forbes states, your goal should not be just to seek compromise: ideally you should find a solution that is truly a win-win for everyone involved. Try to look at the whole issue from a new perspective and come up with a novel solution that maybe no one has thought of before but one that, if possible, will make everyone happy.
Be an active listener
Put aside your assumptions and, to some extent, your ego too. Instead try genuinely to listen actively to all participants in the negotiations (and especially to your opponent). Find out they really want, listen to their demands and emotions and try to read between the lines. Also show that you understand the position of others and take their views seriously.
Start your negotiating position from beyond where you are willing to go
This trick is an old but effective way to get the most out of negotiations and has been used since time immemorial. At the very start, make your demands greater than where you are willing to go. This will put you in a better bargaining position and open up room for negotiation.
Do not underestimate personal feelings
Negotiating is never just a numbers game. Even with seasoned managers and experienced leaders, emotions always come into play, as also do personal sympathies. Do not underestimate the rapport you build with the other participants in the negotiations and how well you get along. So devote enough energy to engendering mutual sympathy.
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