Deal Making Skills...

The first thing you do is to change the way you look at the encounter with whomover you're trying to 'make a deal'. You, or they, have a problem or there'd be no reason to be discussing a deal. That being so, you have to take a MUTUAL problem-solving attitude to the entire process. THAT's the real secret to reaching a consensus and the agreement that results in a deal.

There's a lot more to it than that, of course, but you now have a starting point at least.

I wrote an article quite some time back about negotiating. In it I detailed how a typical negotiation proceeds, the pitfalls and tricks that one or the other party may try and the proper response that tells them whether you're a pro or an amateur out of your league. Pros gain respect, amateurs have already lost the deal in one way or another.

Hate to say this but, the majority of the time, American negotiators haven't a clue and don't even recognize when they hold trump...especially in high stakes negotiating. They're learning but it's been a long time coming.

It's one thing to know the ropes and another to have the ability to pull the right one at the right time so knowledge doesn't necessarily equal skill but it sure helps.

Sandi Bowman

[Dien Rice]

Originally Posted by Sandi Bowman

Hate to say this but, the majority of the time, American negotiators haven't a clue and don't even recognize when they hold trump...especially in high stakes negotiating. They're learning but it's been a long time coming.

It's one thing to know the ropes and another to have the ability to pull the right one at the right time so knowledge doesn't necessarily equal skill but it sure helps.

Hi Sandi,

Thanks for sharing your insights!

It'd be great to also know some of the most common "mistakes" people make in negotiating, based on your experiences...

Cheers,

Dien

Hi, Dien,

I dug out "Negotiation Through Training" , copyright by Sandra Bowman. These are excerpts from the article I had published on one of my sites several years ago. It is difficult, because of the necessity of understanding what goes before, to cut into the middle of it and draw things out so they make sense to folks but for you I tried.

* Always go for a win-win position. Some negotiators fake it but it's not recommended and can backfire.

* Operate from a position of strength or don't waste your time or theirs.

* Each party to a negotiation effectively 'trains' the others how to negotiate with them by what they will and won't tolerate or agree to. If you allow them to bully and threaten you and still get your business, you have trained them to use this method with you. The reverse is also true.

* Respect protocol and time lines...both yours and theirs.

* Come to the table with a full agenda of:
l. Must haves (non-negotiable essentials)
2. If possibles (highly desireables)
3. Bargaining chips (to be used for point advantage as in give-to-get).

* Never 'lay all your cards on the table'. It tells them you're an amateur and don't understand the process.

* Never put your final offer as your first offer. You will be at a distinct disadvantage from the outset and will end up making concessions you can't afford or the negotiations will fail ultimately.

Some sharp negotiators will make a big display of 'laying the cards on the table' in an attempt to rush you into believing that their terms aren't really negotiable 'we've already cut the offer to the bone'. This is often accompanied by an air of impatience. Inexperienced folks often fall for it and expose their minimal settlement terms. Sharpie then uses your NON-negotiables as the 'starting point' for negotiations! It's a trap for the unwary.

How to respond? Offer to pospone the negotiations if they're pressed for time. Almost invariably they'll back down and begin negotiating in earnest. You have, with that response, trained them to negotiate properly and leave the games and posturing to the amateurs. You have informed them that you are wise to the usual negotiating tricks, required that they treat you wtih respect, and gained a good psychological advantage ultimately.

* Understand the process and set achievable goals for a win-win outcome.

Hope this helps, Dien. It's far from the entire scenario but hope it's enough to let you get a taste of the process.

Sandi Bowman

Sandi,

That was very informative and to the point. Thanks for sharing that with us.

Tom

[Dien Rice]

Originally Posted by Sandi Bowman

I dug out "Negotiation Through Training" , copyright by Sandra Bowman. These are excerpts from the article I had published on one of my sites several years ago. It is difficult, because of the necessity of understanding what goes before, to cut into the middle of it and draw things out so they make sense to folks but for you I tried.

Hi Sandi,

Thanks for sharing this! There's some great advice there...!

Best wishes,

Dien