V Panel Debate: Can there ever be true partnership when money is changing hands? Panellists: Rob...
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Transcript of V Panel Debate: Can there ever be true partnership when money is changing hands? Panellists: Rob...
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VPanel Debate:
Can there ever be true partnership when money is changing hands?
Panellists:Rob ManningBob BannisterSteve GladwinLucy Jeynes
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V
Lucy Jeynes, Larch Consulting
The Art of Intelligent Negotiation:
“Getting To Yes”
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V Preparation
“If I had six hours to cut down a tree, I’d spend the first four sharpening the axe”. (Abraham Lincoln)
– What are your relative rankings?– What’s the current relationship?– Do you need to maintain a relationship in the future?– Are you buying or selling?– Can you be a good negotiator without losing touch
with your principles and values?
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V Goals
• What do you want to get out of the negotiation?
• What do you think the other person wants?
• Think about and map these outcomes
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V Trades
• What do you and the other person have that you can trade?
• What do you each have that the other wants?• What are you each comfortable giving away?
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V Alternatives
• If you don’t reach agreement, what are the alternatives?
• Are these good or bad?• How much does it matter if you don’t agree?• Does failure to reach agreement cut out future
opportunities?• What alternatives does the other party have?
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V Relationships
• What is the history?• How will this history impact the negotiation?• Are there any hidden issues?• How will you handle these?
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V Outcomes
• What outcome will people be expecting from this negotiation?
• What precedents have been set in the past?
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V Consequences
• What are the consequences for you of winning or losing?
• What are the consequences for the other person?
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V Power
• Who holds what power in this relationship?• Who controls resources?• Who loses most if agreement isn’t reached?• What power does the other party have to
deliver what you hope for?
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V Compromises
• What possible compromises might there be?• How can each party come away from the
negotiation feeling positive?
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V Exploration
• Negotiation is a careful exploration of your position and the other person’s position
• The goal is finding a mutually acceptable compromise that gives you both as much of what you want as possible
• Ideally, the other person wants what you are prepared to trade, and you are prepared to give what the other person wants
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V What’s your style?
• Be confident and authentic• Don’t assume it’s a battle!• Be prepared – think things out• The nice guys don’t always come last
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V Five Tips
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V Learn to Flinch
• A visible reaction to the offer or price• Makes the other person feel uncomfortable
about the offer they’ve presented• Leave them to respond
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V Ask for more
• Ask for more than you expect to get• (Be cheeky rather than insulting)
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V Do your research
• The person with the most information usually does better
• You need to learn as much as possible about the other person’s situation, motivation, wants and needs
• If you are selling - know as much as possible about your competition and their offer too
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V Practice
• Practising all the time will help you become more confident
• It will help you to see that there is more scope for negotiation than you think
• Good situations to practice?
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V Be ready to walk away
• Make sure you have an alternative• The most powerful negotiating position is the
one where you don’t need to do a deal
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V
RE-CAP
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V Preparation
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V Five Tips
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“My job is to make it better than it was when I got here”. Lee Iacocca
@LarchLucyLucy Jeynes [email protected]
WWwwww.larch.co.uk
larch.co.uk [email protected]