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Presentation giving practical tips and advice on how to conduct successful business negotiations. Given at the Women Unlimited Thrive 2014 conference in London.
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Top Tips for Negotiating
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Top Tips for Negotiating
• Why improve Negotiating as a skill?• What is BATNA? • 6 Tips on how to Negotiate smarter• 8 Techniques that work
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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
Definition of Negotiate
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.
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Why improve Negotiating as a skill?
“ Everything is negotiable”
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Why improve Negotiating as a skill?
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I WINYou WIN
I win You lose
I lose You win
I lose You lose
Negotiation Strategy Matrix
It’s a Deal!
Smiley face
Lose/loseSad face
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People: Separate the people from the problem
Interest: Focus on interest, not positions
Options: Invent options for mutual gain
Criteria: Insist on an objective criteriajulialangkraehr.com@JuliaLangkraehr
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”
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Communication
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Tips on How to Negotiate Smarter
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Preparethe Structure
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Tips on How to Negotiate Smarter
ResearchYour PositionTheir Position
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Tips on How to Negotiate Smarter
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Practice Rehearse
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Tips on How to Negotiate Smarter
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Decideyour break-eventheir break-even
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Tips on How to Negotiate Smarter
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Patiencenever feel rushed
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Tips on How to Negotiate Smarter
Be Ready toWalk Away
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Tips on How to Negotiate Smarter
1. Prepare the Structure2. Research - your Position/their Position3. Practice - Rehearse4. Anticipate – Decide your break-even/their
break-even5. Patience – never feel rushed6. Be Ready to Walk Away
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Techniques that Work
Open at your maximum( that you can logically argue)
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Techniques that Work
Use Silence
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Techniques that Work
Offer Better Terms
Cash
Payment upfront
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Techniques that Work
Don’t give something without getting something in return
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Techniques that Work
Ask for something that’s valuable to you but doesn’t cost them
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Techniques that Work
Offer little small incentives versus large ones – (offer or ask)
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Techniques that Work
Hold back a fact/point to use as a close
Have something to offer to close
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What is the action you will take?
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Exercise – Find a Partner
One Minute (each) = Two Minutes total
1. One thing that’s unique about what you do?
2. One current negotiation you face? 3. What One Tip or Technique will you
use from today?julialangkraehr.com@JuliaLangkraehr
Resources:
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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
@JuliaLangraehr
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If you would like to find out more about the business support and coaching I offer, please do get in touch.