Presentation on theme: "Four Keys to Negotiation 1. Aim High - the musts, the likes, the loss leaders 2. Know the other side’s priorities - use your preparation, experience -"— Presentation transcript:
Four Keys to Negotiation 1. Aim High - the musts, the likes, the loss leaders 2. Know the other side’s priorities - use your preparation, experience - probe and listen 3. Keep the whole package in mind - know interrelationships - anticipate tradeoffs 4. Remain flexible - everything is negotiable
AB Area of negotiation Building Bridges of Rapport A. Open discussions on a neutral subject to avoid hostility B. When holding back, reassure willingness to reach outcome C. Show respect for the other person and the process D. Refer back to areas of mutual concern and agreement E. Present value to other party F. Clarify explanation (justification) for complex issues
Trading Concessions 1. Always trade concessions reluctantly - I’ll only do it for you 2. Build up your concessions - it would really involve much more work - I would normally never do this - I really don’t know what my boss will say 3. Minimize their concessions - I guess its OK - Well that helps a little but … - I don’t really need that, but...
Preparation: Seven Key Stages 1. Set Clear Objectives - Specific, Measurable, Achievable,Realistic and Timely 2. Identify Other Person’s Needs 3. Identify Negotiation Elements - essential, extra or unimportant 4. Decide on Concessions and Their Worth - quantify the intangibles 5. Calculate the Overall Package - use ranges: minimums to maximums 6. Prepare Your Positions - estimate where each is likely to start 7. Prepare to Conduct Negotiations - look at items as values rather than costs - rehearse
Negotiation Techniques 1. Use Silence 2. Summarize Frequently 3. Take Notes 4. Promote Good Feelings 5. Read Between the Lines 6. Don’t Get Emotional 7. Keep Thinking 8. Wait Until Everything is on the Table 9. Don’t Have Deadlines 10. Everything is Flexible