Negotiation Skills Training Courses
With
over twenty-five years of proven industry experience, the
Negotiations
Training Institute of America is the recognized leader in negotiations
training, consulting and performance coaching. Through public open
enrollment courses and private on-session training sessions, we
have helped leading corporations, non-profit organizations and governmental
agencies improve their ability to
negotiate
better outcomes for their constituencies.
First-time
negotiators as well as those with the greatest
competitive
drive and amount of first-hand experience and
negotiations
wisdom can benefit from our time-tested courses. Whether focusing
on
negotiating
a contract with a vendor or jumping in to the often-stressful
car buying process to
deal
with a dealership, our courses provide useful skills, proven techniques
and various classroom role plays to help you
become
more aware of negotiations that you must face on a daily basis.
For more information on our negotiation skills training courses please
contact us.
Business Negotiation Courses: The Five Basic Rules Every Business Owner Must Know
Over the years I've learned five really important rules for successful negotiations. I've personally used these rules in literally thousands of formal negotiation sessions and have written great deals and formed long term relationships because of them.
1. Make sure that both sides feel that they've accomplished something in the negotiations.
2. Don't fight for a small point so long you damage your ability to win the large ones.
3. Know going in what your 'must haves' are, the rest are optional.
4. Let the other person quote a number first.
5. Always... be in a position to walk away from the table if a good deal can't be struck.
Let me elaborate a little on each of the rules:
Rule 1
Negotiations are a give and take process. If you are trying to cultivate a relationship with someone and plan to do business with them again, be in a client project, buying a car or negotiating at a flea market, each party has to feel good about the process or it will be a onetime thing. If you drive such a hard bargain every time that the other party feels as though they were taken advantage of, word will quickly spread about your business tactics and sooner rather than later you will find it difficult to find someone willing to work with you. Give a little, get a little, and everyone gets a deal that they feel good about.
Rule 2
A long time ago I was in negotiations to buy someone out of a business arrangement. Every time we would leave the bargaining table with what we thought was a deal, the person would call or email the next day with 'one more thing' or a 'slight change'. To make matters worse, this person would not speak directly to me, instead they used their attorney who then contacted my attorney... driving up the cost of the process and making the lawyers rich. After this had happened four separate times, over items that were actually worth less than the attorney's fees we were being charged to talk about it, I called a final one-on-one, lawyer-free, negotiation session where we sat for three hours, did the give and take and then agreed that no more changes could be made without the deal being called off. The result... a good deal for everyone... except the attorneys.
Rule 3
Anytime you walk into a negotiation you need to know your bottom line, the one or two things you absolutely must get from the negotiation to satisfy your business needs, financial needs or in some cases your ego needs. You will most likely have a list of 5-10 things you'd like to have...only the 'must haves' are in concrete, the rest have to be negotiable. Rule 4 When you are in negotiation to buy anything, let the other person put out the number first. It's still amazing to me that when buying anything from a car, to a house, to a television, people answer the question posed by a salesperson "so, what do you want your monthly payment to be?" or the other version "what are you willing to spend for (____)?" My answer has always been "the absolute lowest one possible, now what's your price for (____)?" Do your research in advance, know what the price points should be and wait... a number will eventually be put on the table and often it's at or lower than you expected.
Rule 5
(My cardinal rule) Anytime I agree to enter into negotiations, I've already thought through the first four rules in my head and have my benchmarks set. I am always prepared to walk away from a deal, a project, a house or other purchase if my basic 'must have' benchmarks can't be met. Now let me be clear, I don't want to walk away from the deal, otherwise I wouldn't have agreed to sit and negotiate... but I'm prepared to if we can't create a good deal (See Rule #1). By putting yourself in the position to walk away from ANY deal, you avoid the sense of desperation that can cloud your judgment and get you into situations that you should have passed on.
Source: Bob Holdsworth Link
For Negotiation
Skills Seminar information please
contact
us.
Related:
Business Negotiation Coursess
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