TOP 5 TIPS FOR NEGOTIATION PREPARATION 

 

1. Make sure you set aside time to prepare.

Even if it is only 10 minutes between receiving a phone call and having to return it, some preparation is better than none.

2. Think about an agenda for the negotiation.

What are the issues on the table? It may be valuable to set the agenda prior to the meeting commencing so that both sides can prepare effectively.

3. If you are about to negotiate on a set piece issue think about taking along a team with you.

The team should be prepared effectively and have set roles. A well drilled team creates an advantage when the meeting begins.

4. Practice your response.

In your team think about how you will respond to the various 'plays' that the other side might make.  Spend time developing 'what if' responses to how the other side may play their agenda.

5. Test any contentious issues with stakeholders.

Make sure you have the authority and backing to take any tough decisions you may need to take.

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Liar Liar Pants On Fire

“The trouble, Richard”, a prospective client once said to me, “is that I can get a better service elsewhere for less money” …the salesman’s worst nightmare! But I was desperate; I’d been trying to get this research proposal over the line for weeks and we really needed the revenue. I was ready to compromise and do (what I thought) was necessary. But that compromise (or unconditional concession as we professional negotiators like to call it) didn’t just cost me the arbitrary 15% discount to get the job. It set a precedent for subsequent jobs that overtime amounted to thousands of pounds.

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