Top tips for negotiating

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Information about Top tips for negotiating
Business & Mgmt

Published on March 8, 2014

Author: JuliaLangkraehr1

Source: slideshare.net

Description

Presentation giving practical tips and advice on how to conduct successful business negotiations. Given at the Women Unlimited Thrive 2014 conference in London.

Top Tips for Negotiating @JuliaLangkraehr julialangkraehr.com

Top Tips for Negotiating • • • • Why improve Negotiating as a skill? What is BATNA? 6 Tips on how to Negotiate smarter 8 Techniques that work @JuliaLangkraehr julialangkraehr.com

Definition of Negotiate ne·go·ti·ate [ni-goh-shee-eyt] verb (used without object), ne·go·ti·at·ed, ne·go·ti·at·ing. 1. to deal or bargain with another or others, as in the preparation of a treaty or contract or in preliminaries to a business deal verb (used with object), ne·go·ti·at·ed, ne·go·ti·at·ing. 2. to arrange for or bring about by discussion and settlement of terms: to negotiate a loan. 3. to manage; transact; conduct: He negotiated an important business deal. 4. to move through, around, or over in a satisfactory manner: to negotiate a difficult dance step without tripping: to negotiate sharp curves. @JuliaLangkraehr julialangkraehr.com

Why improve Negotiating as a skill? “ Everything is negotiable” @JuliaLangkraehr julialangkraehr.com

Why improve Negotiating as a skill? @JuliaLangkraehr julialangkraehr.com

@JuliaLangkraehr julialangkraehr.com

Negotiation Strategy Matrix I WIN Sad face @JuliaLangkraehr You WIN You lose I lose I lose You win It’s a Deal! I win You lose Smiley face Lose/lose julialangkraehr.com

People: Separate the people from the problem Interest: Focus on interest, not positions Options: Invent options for mutual gain Criteria: Insist on an objective criteria @JuliaLangkraehr julialangkraehr.com

What is BATNA? Best Alternative To a Negotiated Agreement BATNA is the course of action that will be taken by a party if the current negotiations fail and an agreement cannot be reached. “Don’t accept a worse resolution then your BATNA” @JuliaLangkraehr julialangkraehr.com

Communication @JuliaLangkraehr julialangkraehr.com

Tips on How to Negotiate Smarter Prepare the Structure @JuliaLangkraehr julialangkraehr.com

Tips on How to Negotiate Smarter Research Your Position Their Position @JuliaLangkraehr julialangkraehr.com

Tips on How to Negotiate Smarter Practice Rehearse @JuliaLangkraehr julialangkraehr.com

Tips on How to Negotiate Smarter Decide your break-even their break-even @JuliaLangkraehr julialangkraehr.com

Tips on How to Negotiate Smarter Patience never feel rushed @JuliaLangkraehr julialangkraehr.com

Tips on How to Negotiate Smarter Be Ready to Walk Away @JuliaLangkraehr julialangkraehr.com

Tips on How to Negotiate Smarter 1. 2. 3. 4. 5. 6. Prepare the Structure Research - your Position/their Position Practice - Rehearse Anticipate – Decide your break-even/their breakeven Patience – never feel rushed Be Ready to Walk Away @JuliaLangkraehr julialangkraehr.com

Techniques that Work Open at your maximum ( that you can logically argue) @JuliaLangkraehr julialangkraehr.com

Techniques that Work Use Silence @JuliaLangkraehr julialangkraehr.com

Techniques that Work Offer Better Terms Cash Payment upfront @JuliaLangkraehr julialangkraehr.com

Techniques that Work Don’t give something without getting something in return @JuliaLangkraehr julialangkraehr.com

Techniques that Work Ask for something that’s valuable to you but doesn’t cost them @JuliaLangkraehr julialangkraehr.com

Techniques that Work Offer little small incentives versus large ones – (offer or ask) @JuliaLangkraehr julialangkraehr.com

Techniques that Work Hold back a fact/point to use as a close Have something to offer to close @JuliaLangkraehr julialangkraehr.com

What is the action you will take? @JuliaLangkraehr julialangkraehr.com

Exercise – Find a Partner One Minute (each) = Two Minutes total 1. 2. 3. One thing that’s unique about what you do? One current negotiation you face? What One Tip or Technique will you use from today? @JuliaLangkraehr julialangkraehr.com

Resources: @JuliaLangkraehr julialangkraehr.com

Conclusions • • • • • • Increase your business skills every day Know your BATNA “Measure twice, cut once” Use the 6 Tips on How to Negotiate smarter Use the 8 Negotiating Techniques Negotiating Smarter Adds Profit! @JuliaLangkraehr julialangkraehr.com

If you would like to find out more about the business support and coaching I offer, please do get in touch. jlangkraehr@gmail.com @JuliaLangraehr julialangkraehr.com

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