Monday, August 23, 2010

Ten Negotiation Techniques

This just in from the negotiating Linked In group...

Ten Negotiation Techniques

1. Prepare, prepare, prepare.

Enter a negotiation without proper preparation and you've already lost. Start with yourself. Make sure you are clear on what you really want out of the arrangement. Research the other side to better understand their needs as well as their strengths and weaknesses. Enlist help from experts, such as an accountant, attorney or tech guru.

2. Pay attention to timing.
Timing is important in any negotiation. Sure, you must know what to ask for. But be sensitive to when you ask for it. There are times to press ahead, and times to wait. When you are looking your best is the time to press for what you want. But beware of pushing too hard and poisoning any long-term relationship.

3. Leave behind your ego.
The best negotiators either don't care or don't show they care about who gets credit for a successful deal. Their talent is in making the other side feel like the final agreement was all their idea.

4. Ramp up your listening skills.
The best negotiators are often quiet listeners who patiently let others have the floor while they make their case. They never interrupt. Encourage the other side to talk first. That helps set up one of negotiation's oldest maxims: Whoever mentions numbers first, loses. While that's not always true, it's generally better to sit tight and let the other side go first. Even if they don't mention numbers, it gives you a chance to ask what they are thinking.

5. If you don't ask, you don't get.
Another tenet of negotiating is "Go high, or go home." As part of your preparation, define your highest justifiable price. As long as you can argue convincingly, don't be afraid to aim high. But no ultimatums, please. Take-it-or-leave-it offers are usually out of place.

6. Anticipate compromise.
You should expect to make concessions and plan what they might be. Of course, the other side is thinking the same, so never take their first offer. Even if it's better than you'd hoped for, practice your best look of disappointment and politely decline. You never know what else you can get.

7. Offer and expect commitment.
The glue that keeps deals from unraveling is an unshakable commitment to deliver. You should offer this comfort level to others. Likewise, avoid deals where the other side does not demonstrate commitment.

8. Don't absorb their problems.
In most negotiations, you will hear all of the other side's problems and reasons they can't give you what you want. They want their problems to become yours, but don't let them. Instead, deal with each as they come up and try to solve them. If their "budget" is too low, for example, maybe there are other places that money could come from.

9. Stick to your principles.
As an individual and a business owner, you likely have a set of guiding principles — values that you just won't compromise. If you find negotiations crossing those boundaries, it might be a deal you can live without.

10. Close with confirmation.
At the close of any meeting — even if no final deal is struck — recap the points covered and any areas of agreement. Make sure everyone confirms. Follow-up with appropriate letters or emails. Do not leave behind loose ends.

Friday, May 22, 2009

Back to Negotiating

Man, I've been busy lately, but I promise to get back to posting at least once per week.

Sorry about that!

I'll have a good post for you by Monday!

Wednesday, February 4, 2009

Got The Itch For a New Car?

I can't believe the new car deals out there! If you have the cash, now is the time to negotiate for a new set of wheels. We're cash-only buyers here at the Perry household so we're not quite ready, but maybe you are.

If so, Mike at Negotiation Dynamics has a great outline of HOW TO BUY A NEW CAR that I find thorough and very helpful.

If this helped you out, let us know!!!

Tuesday, February 3, 2009

A Magazine For Us!

Take a look at this site!

Negotiator Magazine


They offer a free subscription to Negotiator Magazine if you sign up. There is a lot of good information here and I'll be digging through it over the next few days. They also have book reviews.

Monday, February 2, 2009

Book Review - How To Negotiate Like a Child

How To Negotiate Like a Child
By Bill Adler

ISBN-10: 081447294X
ISBN-13: 978-0814472941



How to Negotiate Like a Child: Unleash the Little Monster Within to Get Everything You Want

Having a little negotiator running around my house, I did get a kick out of this book. While I'm not sure I'd use some of the tactics (it's a tactics book) I have had many of them used on me, including the temper tantrum.

Its a fun book with lots of interesting tidbits, but there is not much for the serious negotiator here.