Negotiation Skills

It is about human interaction for

achieving better understanding
and agreement.
• Trust –
• The more trust you and the other party have in each other, the less
need there will be to negotiate.
• Trust only comes through time and the quality of interactions you
have had with the customer.
• Time –
• The more time you have before it’s necessary to finalize the deal, the
greater your leverage.
• If time is of the essence to you, do not allow the other party to know
what your timeframe is.
• A good negotiator will use it to their advantage by knowing timelines
the other party is dealing with – without revealing anything other
than what is necessary to help you close the negotiation.
• Tactics –
• People use tactics to negotiate when they do not have an
established level of trust with the other person or they don’t have
time working in their favour. The number and type of tactics a
person will use is in direct proportion to the lack of trust they place
in others.
Tips for Negotiation
• Understand the BDU and the specific roles.
• Hold a negotiation strategy meeting in your office.
• Prepare for the toughest question they may ask.
• Think about all the questions you need to ask the
other side. Go with learning mindset. Use WHY
more than WHAT.
• More than what happens if you lose the deal,
understand what happens to them if there is no
deal.
• Negotiate the process before substance.
• Don’t give up when you feel like losing or into lot of
arguments or going down.
• Do not hesitate to give the real picture or do not
accept something which you are sure of inviting a
problem at a later stage.
• Don’t show desperation.
• Don’t give unwanted concessions. Remember give
and take.
• Negotiate as a package. It is interlinked.
• Make multiple offers if possible.
• Initial reaction matters. Do not hesitate to convey if
the offer isnt acceptable.
• Understand and respect their constraints.
• Don’t end negotiation with NO.
• Follow phone calls and meeting with emails.
• Tell the TRUTH. Establish your credibility.
• Never negotiate with anyone who is not qualified to
negotiate.
• Know when to walk away and be confident in doing
so.
• Know at least 5 things the other person wants that
you can offer.
• Know at least 5 things you can say that will discount
what the other person is offering (price not
included).
• Always put the negotiated outcome in writing
immediately.
• Upon reaching an agreement, thank the other party,
but do not celebrate!