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Panels are teams. Whether or not panelists agree on all issues, they can and should work together to create an interesting discussion for the audience. If you are a panelist, play the part — prepare well and participate well. If you are the moderator, direct your team well, from the beginning of the session to the end.
Preparing for the panel
Panels can take many forms. When invited to be on a panel, ask about the format. What exactly will the discussion be about? Are you supposed to deliver a prepared statement to open the discussion, or are you only supposed to answer questions? Will someone introduce you, or are you supposed to introduce yourself? Who will be asking the questions: the audience, the moderator, or the other panel participants? Are some of the questions known in advance? Will the moderator designate who on the panel should answer a given question, or can any panel member offer a response? Most importantly, who are the other panelists? The answers to these questions will help you prepare appropriately.
As for a presentation, when preparing for a panel discussion, you can imagine the questions you will likely receive and be ready to answer them. Unlike for a presentation, however, you will be next to other people who may answer the same questions in different ways. Gathering your thoughts on the topic is, therefore, not enough: You should also research the other panelists' positions if you want to be ready for discussion.
Even if you cannot prepare an answer for every possible question, you can anticipate categories of questions and prepare, for each category, a few messages you would like to get across. As you select these messages, think of how you can convince your audience of them, such as by using evidence or examples. Because panel discussions are more like conversations, they lend themselves well to a slightly less formal tone than presentations. In particular, they are a good place for supporting messages with short but relevant stories (successes, failures, lessons learned, and so on).
Finally, even if you anticipate divergences of viewpoint, remember that a panel discussion is not a contest: You should work constructively with the other panelists to deliver an interesting experience to the audience. Try to meet the other panelists ahead of time so you can learn who is who, have a feel for who each panelist is, and build rapport. Even a brief chat just before the session will reduce your stage fright and help ensure a smoother discussion.